16,303 Shares in Insmed Incorporated (NASDAQ:INSM) Purchased by EP Wealth Advisors LLC

EP Wealth Advisors LLC acquired a new stake in shares of Insmed Incorporated (NASDAQ:INSM) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 16,303 shares of the biopharmaceutical company’s stock, valued at approximately $442,000.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Insmed by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock valued at $393,636,000 after acquiring an additional 383,714 shares in the last quarter. Norges Bank purchased a new stake in Insmed during the 4th quarter valued at about $45,029,000. Principal Financial Group Inc. grew its stake in Insmed by 5.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,439,280 shares of the biopharmaceutical company’s stock valued at $39,048,000 after acquiring an additional 79,717 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Insmed by 325.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,211,560 shares of the biopharmaceutical company’s stock valued at $32,870,000 after acquiring an additional 927,040 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Insmed by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,128,436 shares of the biopharmaceutical company’s stock valued at $34,970,000 after acquiring an additional 28,629 shares in the last quarter.

Insmed Stock Up 0.1 %

Insmed stock traded up $0.04 during mid-day trading on Friday, reaching $74.54. 1,423,882 shares of the company’s stock were exchanged, compared to its average volume of 2,531,316. The company has a market cap of $11.08 billion, a P/E ratio of -14.25 and a beta of 1.16. Insmed Incorporated has a twelve month low of $20.33 and a twelve month high of $78.87. The company has a fifty day moving average of $61.37 and a 200-day moving average of $39.07.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.16. The business had revenue of $75.50 million for the quarter, compared to analyst estimates of $77.76 million. Insmed’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the company earned ($1.17) earnings per share. Equities research analysts expect that Insmed Incorporated will post -4.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Sara Bonstein sold 220,564 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $50.00, for a total transaction of $11,028,200.00. Following the completion of the transaction, the chief financial officer now owns 117,481 shares in the company, valued at $5,874,050. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Martina M.D. Flammer sold 21,195 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $55.00, for a total transaction of $1,165,725.00. Following the transaction, the insider now directly owns 106,134 shares of the company’s stock, valued at approximately $5,837,370. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sara Bonstein sold 220,564 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $50.00, for a total transaction of $11,028,200.00. Following the transaction, the chief financial officer now directly owns 117,481 shares in the company, valued at $5,874,050. The disclosure for this sale can be found here. Insiders have sold a total of 295,842 shares of company stock worth $13,762,062 in the last ninety days. 4.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

INSM has been the subject of several research reports. Mizuho upped their price objective on shares of Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, June 7th. JPMorgan Chase & Co. increased their price target on shares of Insmed from $55.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. TD Cowen increased their price target on shares of Insmed from $45.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Barclays increased their price target on shares of Insmed from $40.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th. Finally, Truist Financial increased their price target on shares of Insmed from $68.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 1st. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and an average price target of $74.50.

About Insmed

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.