Westfield Capital Management Co. LP Decreases Position in Insmed, Inc. $INSM

Westfield Capital Management Co. LP cut its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 11.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 432,521 shares of the biopharmaceutical company’s stock after selling 55,406 shares during the period. Westfield Capital Management Co. LP’s holdings in Insmed were worth $75,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in Insmed during the 4th quarter worth $506,625,000. Vanguard Group Inc. increased its holdings in Insmed by 13.0% during the 3rd quarter. Vanguard Group Inc. now owns 19,935,820 shares of the biopharmaceutical company’s stock worth $2,870,957,000 after purchasing an additional 2,291,328 shares during the period. Artisan Partners Limited Partnership increased its holdings in Insmed by 49.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after purchasing an additional 1,623,342 shares during the period. Orbis Allan Gray Ltd purchased a new position in Insmed during the 2nd quarter worth $153,389,000. Finally, Darwin Global Management Ltd. increased its holdings in Insmed by 5.8% during the 3rd quarter. Darwin Global Management Ltd. now owns 20,457,445 shares of the biopharmaceutical company’s stock worth $2,897,797,000 after purchasing an additional 1,112,824 shares during the period.

Insmed Stock Up 1.0%

Insmed stock opened at $104.92 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The stock has a market capitalization of $22.74 billion, a price-to-earnings ratio of -18.25 and a beta of 0.79. Insmed, Inc. has a 1-year low of $70.57 and a 1-year high of $212.75. The business has a fifty day moving average price of $131.53 and a 200-day moving average price of $155.38.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. The firm had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business’s quarterly revenue was up 229.7% on a year-over-year basis. During the same quarter last year, the firm earned ($1.42) EPS. Equities research analysts forecast that Insmed, Inc. will post -2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on INSM shares. Wells Fargo & Company reduced their price objective on Insmed from $177.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Barclays raised their price objective on Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a report on Wednesday, April 1st. Bank of America raised their price objective on Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Royal Bank Of Canada reduced their price objective on Insmed from $220.00 to $205.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Finally, Mizuho increased their target price on Insmed from $204.00 to $206.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.95.

Insider Transactions at Insmed

In other news, CEO William Lewis sold 10,699 shares of the firm’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $143.97, for a total value of $1,540,335.03. Following the completion of the sale, the chief executive officer owned 301,185 shares of the company’s stock, valued at $43,361,604.45. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Alexander Smith sold 6,149 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $108.47, for a total value of $666,982.03. Following the completion of the sale, the insider directly owned 41,613 shares of the company’s stock, valued at $4,513,762.11. The trade was a 12.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 145,944 shares of company stock valued at $22,951,391 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

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.