Resona Asset Management Co. Ltd. Invests $10.53 Million in Insmed, Inc. $INSM

Resona Asset Management Co. Ltd. purchased a new position in shares of Insmed, Inc. (NASDAQ:INSM) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 60,381 shares of the biopharmaceutical company’s stock, valued at approximately $10,528,000.

Other institutional investors have also modified their holdings of the company. Artisan Partners Limited Partnership boosted its stake in shares of Insmed by 49.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after acquiring an additional 1,623,342 shares in the last quarter. Atika Capital Management LLC purchased a new stake in Insmed in the 3rd quarter valued at approximately $13,681,000. iA Global Asset Management Inc. lifted its stake in Insmed by 15,973.5% in the 4th quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company’s stock valued at $4,644,000 after buying an additional 26,516 shares in the last quarter. Nordea Investment Management AB purchased a new stake in Insmed in the 4th quarter valued at approximately $3,492,000. Finally, Keybank National Association OH lifted its stake in Insmed by 76.7% in the 3rd quarter. Keybank National Association OH now owns 16,716 shares of the biopharmaceutical company’s stock valued at $2,407,000 after buying an additional 7,257 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms recently issued reports on INSM. Wells Fargo & Company reduced their target price on Insmed from $177.00 to $160.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Bank of America upped their target price on Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Jefferies Financial Group began coverage on Insmed in a research note on Monday, March 16th. They issued a “buy” rating and a $228.00 target price on the stock. Royal Bank Of Canada reduced their target price on Insmed from $220.00 to $205.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Finally, Barclays upped their target price on Insmed from $231.00 to $237.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $210.95.

Insmed Trading Up 0.5%

Shares of INSM opened at $107.91 on Thursday. The stock has a fifty day moving average of $139.24 and a two-hundred day moving average of $161.82. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. The company has a market capitalization of $23.39 billion, a PE ratio of -18.77 and a beta of 0.89. Insmed, Inc. has a fifty-two week low of $64.85 and a fifty-two week high of $212.75.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.14. The company had revenue of $305.96 million during the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.Insmed’s revenue was up 229.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.42) EPS. As a group, analysts forecast that Insmed, Inc. will post -2.52 EPS for the current year.

Insider Buying and Selling at Insmed

In other Insmed news, CEO William Lewis sold 10,699 shares of the business’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $143.97, for a total value of $1,540,335.03. Following the completion of the transaction, the chief executive officer directly owned 301,185 shares in the company, valued at approximately $43,361,604.45. The trade was a 3.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Alexander Smith sold 19,638 shares of the business’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $150.98, for a total value of $2,964,945.24. Following the completion of the transaction, the insider owned 51,871 shares of the company’s stock, valued at $7,831,483.58. This trade represents a 27.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 150,494 shares of company stock worth $23,846,784. Insiders own 2.10% of the company’s stock.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.