Oppenheimer Asset Management Inc. Grows Stake in Insmed Incorporated (NASDAQ:INSM)

Oppenheimer Asset Management Inc. raised its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 115.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,449 shares of the biopharmaceutical company’s stock after purchasing an additional 7,751 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Insmed were worth $1,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Darwin Global Management Ltd. purchased a new stake in Insmed during the 2nd quarter valued at $237,076,000. Capital International Investors bought a new stake in shares of Insmed in the 1st quarter worth about $43,973,000. Clearbridge Investments LLC purchased a new position in shares of Insmed during the 1st quarter worth about $25,242,000. Fiera Capital Corp bought a new position in Insmed during the 2nd quarter valued at about $40,570,000. Finally, Farallon Capital Management LLC purchased a new stake in Insmed in the 2nd quarter worth about $38,056,000.

Insmed Stock Performance

Shares of NASDAQ:INSM opened at $66.61 on Tuesday. The company has a market capitalization of $11.92 billion, a price-to-earnings ratio of -11.84 and a beta of 1.12. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $80.53. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The firm has a 50 day moving average of $72.13 and a 200 day moving average of $64.97.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.10) earnings per share. On average, sell-side analysts predict that Insmed Incorporated will post -5.42 earnings per share for the current fiscal year.

Insider Transactions at Insmed

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the transaction, the insider now directly owns 100,100 shares of the company’s stock, valued at approximately $7,157,150. This represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the transaction, the insider now directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. The trade was a 29.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,882 shares of company stock valued at $5,765,446. Corporate insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on INSM shares. Stifel Nicolaus upped their target price on Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Bank of America upped their price objective on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. StockNews.com downgraded shares of Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. Finally, Truist Financial reaffirmed a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Insmed presently has an average rating of “Moderate Buy” and an average price target of $83.07.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.