Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in Insmed Incorporated (NASDAQ:INSM)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Insmed Incorporated (NASDAQ:INSM) by 9.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 76,904 shares of the biopharmaceutical company’s stock after buying an additional 6,383 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.05% of Insmed worth $2,383,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Insmed by 7.7% in the 3rd quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company’s stock worth $362,224,000 after buying an additional 1,024,956 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Insmed by 4.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,977,911 shares of the biopharmaceutical company’s stock worth $199,358,000 after buying an additional 429,664 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Insmed by 3.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,374,675 shares of the biopharmaceutical company’s stock worth $167,327,000 after buying an additional 307,913 shares during the last quarter. Palo Alto Investors LP boosted its stake in Insmed by 0.3% in the 1st quarter. Palo Alto Investors LP now owns 5,889,491 shares of the biopharmaceutical company’s stock worth $100,416,000 after buying an additional 18,200 shares during the last quarter. Finally, Bellevue Group AG boosted its stake in Insmed by 0.9% in the 1st quarter. Bellevue Group AG now owns 3,551,776 shares of the biopharmaceutical company’s stock worth $83,467,000 after buying an additional 30,915 shares during the last quarter.

Insmed Stock Down 5.3 %

INSM stock opened at $24.80 on Friday. Insmed Incorporated has a 52-week low of $17.41 and a 52-week high of $32.00. The stock’s 50 day moving average is $27.53 and its two-hundred day moving average is $27.03. The company has a market capitalization of $3.68 billion, a PE ratio of -4.64 and a beta of 0.92.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.15). The business had revenue of $83.70 million during the quarter, compared to the consensus estimate of $82.15 million. During the same quarter in the previous year, the company earned ($1.20) EPS. The firm’s revenue was up 41.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Insmed Incorporated will post -4.65 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Guggenheim raised their price target on Insmed from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. UBS Group assumed coverage on Insmed in a research note on Tuesday, February 27th. They issued a “buy” rating and a $46.00 price objective on the stock. Wolfe Research assumed coverage on Insmed in a research note on Thursday, February 15th. They issued an “outperform” rating and a $42.00 price objective on the stock. StockNews.com raised Insmed from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Finally, Barclays lifted their price objective on Insmed from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.64.

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.