Endurant Capital Management LP boosted its stake in Insmed Incorporated (NASDAQ:INSM – Get Rating) by 85.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 165,280 shares of the biopharmaceutical company's stock after acquiring an additional 76,069 shares during the period. Insmed accounts for approximately 1.0% of Endurant Capital Management LP's holdings, making the stock its 26th biggest holding. Endurant Capital Management LP owned 0.14% of Insmed worth $3,884,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new stake in Insmed in the fourth quarter valued at $45,000. Advisor Group Holdings Inc. boosted its holdings in shares of Insmed by 56.4% during the 4th quarter. Advisor Group Holdings Inc. now owns 2,140 shares of the biopharmaceutical company's stock valued at $58,000 after buying an additional 772 shares in the last quarter. First Republic Investment Management Inc. boosted its holdings in shares of Insmed by 10.7% during the 4th quarter. First Republic Investment Management Inc. now owns 8,583 shares of the biopharmaceutical company's stock valued at $234,000 after buying an additional 832 shares in the last quarter. Duality Advisers LP bought a new stake in shares of Insmed during the 1st quarter valued at $209,000. Finally, Calton & Associates Inc. boosted its holdings in shares of Insmed by 15.7% during the 1st quarter. Calton & Associates Inc. now owns 9,801 shares of the biopharmaceutical company's stock valued at $230,000 after buying an additional 1,331 shares in the last quarter.
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Analysts Set New Price Targets
A number of analysts have recently commented on INSM shares. Morgan Stanley dropped their target price on shares of Insmed from $46.00 to $41.00 and set an "overweight" rating on the stock in a report on Friday, July 15th. Credit Suisse Group boosted their target price on shares of Insmed to $58.00 in a report on Tuesday, August 9th. Finally, The Goldman Sachs Group dropped their target price on shares of Insmed from $56.00 to $48.00 and set a "buy" rating on the stock in a report on Tuesday, May 24th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $50.86.
Insmed Trading Up 1.8 %
NASDAQ INSM opened at $25.28 on Tuesday. Insmed Incorporated has a 52 week low of $16.41 and a 52 week high of $34.44. The company has a quick ratio of 5.34, a current ratio of 5.93 and a debt-to-equity ratio of 18.24. The company has a 50-day moving average price of $24.40 and a 200-day moving average price of $22.54.
Insmed (NASDAQ:INSM – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.09. Insmed had a negative net margin of 188.04% and a negative return on equity of 154.14%. The firm had revenue of $65.20 million during the quarter, compared to analyst estimates of $58.92 million. During the same quarter in the prior year, the firm earned ($0.94) EPS. The business's revenue for the quarter was up 43.6% compared to the same quarter last year. As a group, analysts predict that Insmed Incorporated will post -3.4 EPS for the current year.
Insider Activity
In related news, CEO William Lewis sold 216,800 shares of the business's stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $27.84, for a total transaction of $6,035,712.00. Following the completion of the transaction, the chief executive officer now directly owns 256,716 shares in the company, valued at approximately $7,146,973.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold 314,355 shares of company stock valued at $8,279,853 in the last quarter. 4.40% of the stock is currently owned by insiders.
About Insmed
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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.
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