Insmed Incorporated (NASDAQ:INSM) Shares Acquired by MML Investors Services LLC

MML Investors Services LLC lifted its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 36.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,201 shares of the biopharmaceutical company’s stock after purchasing an additional 5,897 shares during the quarter. MML Investors Services LLC’s holdings in Insmed were worth $1,621,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Darwin Global Management Ltd. acquired a new stake in shares of Insmed during the second quarter worth $237,076,000. Principal Financial Group Inc. boosted its holdings in shares of Insmed by 12.9% during the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock worth $136,648,000 after purchasing an additional 214,130 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Insmed by 76.8% in the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after acquiring an additional 714,539 shares during the last quarter. Vestal Point Capital LP boosted its holdings in Insmed by 113.3% in the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after acquiring an additional 850,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Insmed by 10.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,444,266 shares of the biopharmaceutical company’s stock valued at $105,431,000 after acquiring an additional 137,670 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Insmed in a report on Friday, November 1st. Truist Financial reiterated a “buy” rating and issued a $105.00 target price (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a report on Monday, September 9th. JPMorgan Chase & Co. lifted their target price on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Bank of America lifted their target price on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.67.

Insmed Stock Up 0.6 %

Shares of NASDAQ INSM opened at $73.85 on Wednesday. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $80.53. The firm has a market cap of $13.21 billion, a price-to-earnings ratio of -13.31 and a beta of 1.10. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The stock’s 50-day simple moving average is $72.44 and its 200-day simple moving average is $71.56.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. During the same quarter last year, the firm posted ($1.10) earnings per share. The business’s revenue was up 18.1% on a year-over-year basis. As a group, equities analysts anticipate that Insmed Incorporated will post -5.44 earnings per share for the current fiscal year.

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.