Rice Hall James & Associates LLC lowered its position in shares of Insmed Incorporated (NASDAQ:INSM) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 276,454 shares of the biopharmaceutical company’s stock after selling 6,730 shares during the period. Rice Hall James & Associates LLC’s holdings in Insmed were worth $5,590,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Alps Advisors Inc. grew its stake in shares of Insmed by 23.5% during the third quarter. Alps Advisors Inc. now owns 136,333 shares of the biopharmaceutical company’s stock worth $2,757,000 after purchasing an additional 25,931 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Insmed during the third quarter worth $452,000. Northern Trust Corp grew its stake in shares of Insmed by 3.1% during the second quarter. Northern Trust Corp now owns 987,228 shares of the biopharmaceutical company’s stock worth $23,348,000 after purchasing an additional 30,064 shares in the last quarter. MetLife Investment Advisors LLC grew its stake in shares of Insmed by 12.4% during the second quarter. MetLife Investment Advisors LLC now owns 37,652 shares of the biopharmaceutical company’s stock worth $890,000 after purchasing an additional 4,160 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new position in shares of Insmed during the second quarter worth $1,656,000.
INSM has been the subject of a number of analyst reports. Credit Suisse Group boosted their target price on shares of Insmed from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, October 1st. HC Wainwright reiterated a “buy” rating and set a $43.00 target price on shares of Insmed in a research note on Friday, August 3rd. Zacks Investment Research upgraded shares of Insmed from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Wednesday, July 4th. ValuEngine downgraded shares of Insmed from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 4th. Finally, Goldman Sachs Group set a $25.00 target price on shares of Insmed and gave the stock a “hold” rating in a research note on Wednesday, September 19th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Insmed has an average rating of “Buy” and a consensus price target of $38.14.
Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($1.00) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.08. On average, equities analysts predict that Insmed Incorporated will post -4.05 EPS for the current fiscal year.
Insmed Incorporated, a biopharmaceutical company, focuses on the development and commercialization of therapies for patients with rare diseases. The company's lead product candidate is amikacin liposome inhalation suspension, which is in late-state development for adult patients with treatment refractory nontuberculous mycobacteria lung disease caused by mycobacterium avium complex.
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