Jennison Associates LLC Has $98.88 Million Holdings in Insmed, Inc. $INSM

Jennison Associates LLC grew its holdings in Insmed, Inc. (NASDAQ:INSM) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 604,694 shares of the biopharmaceutical company’s stock after purchasing an additional 42,398 shares during the period. Jennison Associates LLC’s holdings in Insmed were worth $98,880,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in INSM. CIBC Private Wealth Group LLC boosted its holdings in shares of Insmed by 42.1% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 53 shares during the period. EverSource Wealth Advisors LLC increased its stake in Insmed by 10.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 69 shares during the period. ORG Partners LLC lifted its position in Insmed by 12.7% in the 4th quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 74 shares in the last quarter. Private Advisor Group LLC lifted its position in Insmed by 1.8% in the 1st quarter. Private Advisor Group LLC now owns 4,749 shares of the biopharmaceutical company’s stock worth $777,000 after buying an additional 82 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Insmed by 20.5% during the 4th quarter. Allworth Financial LP now owns 635 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 108 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Morgan Stanley upgraded shares of Insmed from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $166.00 to $212.00 in a report on Monday, March 30th. Stifel Nicolaus lifted their price objective on Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Roth Capital reissued a “buy” rating on shares of Insmed in a research report on Monday, June 8th. Leerink Partners boosted their target price on Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a research note on Tuesday, March 24th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $207.00 target price on shares of Insmed in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Insmed presently has an average rating of “Moderate Buy” and a consensus price target of $211.05.

Insider Buying and Selling

In other Insmed news, CFO Sara Bonstein sold 2,404 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $245,857.08. Following the completion of the sale, the chief financial officer owned 69,082 shares of the company’s stock, valued at $7,065,016.14. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Roger Adsett sold 2,370 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $242,379.90. Following the transaction, the chief operating officer owned 98,603 shares in the company, valued at approximately $10,084,128.81. This trade represents a 2.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 54,590 shares of company stock worth $5,793,738. Insiders own 2.10% of the company’s stock.

Insmed Stock Performance

INSM stock opened at $108.32 on Monday. The firm has a 50 day moving average of $105.72 and a two-hundred day moving average of $135.63. Insmed, Inc. has a 12 month low of $90.39 and a 12 month high of $212.75. The company has a market capitalization of $23.48 billion, a price-to-earnings ratio of -18.84 and a beta of 0.78. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. During the same quarter last year, the firm earned ($1.42) EPS. Insmed’s revenue for the quarter was up 229.7% on a year-over-year basis. As a group, equities analysts anticipate that Insmed, Inc. will post -2.43 EPS for the current fiscal year.

Insmed Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.