Clearbridge Investments LLC Makes New Investment in Insmed Incorporated (NASDAQ:INSM)

Clearbridge Investments LLC purchased a new position in shares of Insmed Incorporated (NASDAQ:INSM) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 930,409 shares of the biopharmaceutical company’s stock, valued at approximately $25,242,000. Clearbridge Investments LLC owned approximately 0.63% of Insmed at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of Insmed during the 4th quarter worth $25,000. Fidelis Capital Partners LLC purchased a new position in shares of Insmed during the 1st quarter worth approximately $34,000. Headlands Technologies LLC acquired a new position in shares of Insmed during the 1st quarter worth approximately $59,000. Quarry LP purchased a new stake in Insmed in the 4th quarter valued at approximately $116,000. Finally, Assetmark Inc. grew its holdings in Insmed by 23.3% during the 4th quarter. Assetmark Inc. now owns 5,915 shares of the biopharmaceutical company’s stock valued at $183,000 after buying an additional 1,116 shares during the last quarter.

Insmed Price Performance

NASDAQ INSM traded down $1.56 during mid-day trading on Wednesday, hitting $74.43. The company’s stock had a trading volume of 1,580,206 shares, compared to its average volume of 2,561,476. The firm has a market capitalization of $11.06 billion, a P/E ratio of -14.26 and a beta of 1.16. Insmed Incorporated has a 52-week low of $20.16 and a 52-week high of $78.87. The stock’s fifty day simple moving average is $58.40 and its two-hundred day simple moving average is $38.26.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.16. The business had revenue of $75.50 million during the quarter, compared to analysts’ expectations of $77.76 million. During the same period in the prior year, the business posted ($1.17) EPS. The business’s revenue was up 15.8% on a year-over-year basis. On average, equities analysts forecast that Insmed Incorporated will post -4.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

INSM has been the topic of several recent research reports. StockNews.com upgraded Insmed from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. JPMorgan Chase & Co. raised their price target on shares of Insmed from $55.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Barclays boosted their price objective on shares of Insmed from $40.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Evercore ISI raised their target price on shares of Insmed from $42.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Finally, The Goldman Sachs Group raised their price objective on Insmed from $74.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.50.

Insider Transactions at Insmed

In related news, insider John Drayton Wise sold 5,088 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.47, for a total transaction of $129,591.36. Following the sale, the insider now directly owns 123,259 shares in the company, valued at approximately $3,139,406.73. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Roger Adsett sold 7,857 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.50, for a total value of $200,353.50. Following the completion of the transaction, the chief operating officer now directly owns 155,220 shares in the company, valued at $3,958,110. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Drayton Wise sold 5,088 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total transaction of $129,591.36. Following the sale, the insider now directly owns 123,259 shares of the company’s stock, valued at $3,139,406.73. The disclosure for this sale can be found here. Insiders sold 295,842 shares of company stock valued at $13,762,062 over the last quarter. Company insiders own 4.60% of the company’s stock.

Insmed 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.