Insmed Incorporated (NASDAQ:INSM) Stake Lessened by Arizona State Retirement System

Arizona State Retirement System cut its stake in Insmed Incorporated (NASDAQ:INSM) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,189 shares of the biopharmaceutical company’s stock after selling 657 shares during the period. Arizona State Retirement System’s holdings in Insmed were worth $1,183,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Assetmark Inc. boosted its holdings in Insmed by 10.7% during the third quarter. Assetmark Inc. now owns 4,799 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 463 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Insmed by 12.1% during the second quarter. PNC Financial Services Group Inc. now owns 5,579 shares of the biopharmaceutical company’s stock worth $118,000 after buying an additional 604 shares in the last quarter. Diversified Trust Co boosted its holdings in Insmed by 4.2% during the third quarter. Diversified Trust Co now owns 19,634 shares of the biopharmaceutical company’s stock worth $496,000 after buying an additional 792 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in Insmed by 11.8% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 8,354 shares of the biopharmaceutical company’s stock worth $167,000 after buying an additional 881 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Insmed by 6.5% during the third quarter. Victory Capital Management Inc. now owns 15,486 shares of the biopharmaceutical company’s stock worth $391,000 after buying an additional 948 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on INSM shares. Barclays raised their price objective on shares of Insmed from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Guggenheim raised their price objective on shares of Insmed from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. StockNews.com raised shares of Insmed from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. UBS Group assumed coverage on shares of Insmed in a research note on Tuesday, February 27th. They issued a “buy” rating and a $46.00 price objective for the company. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $55.00 target price on shares of Insmed in a research report on Monday, April 1st. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.64.

Insmed Trading Down 1.6 %

Insmed stock opened at $26.82 on Tuesday. The company has a market capitalization of $3.98 billion, a P/E ratio of -5.02 and a beta of 0.92. The firm’s fifty day simple moving average is $27.64 and its 200-day simple moving average is $27.03. Insmed Incorporated has a 1-year low of $16.81 and a 1-year high of $32.00.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.15). The firm had revenue of $83.70 million for the quarter, compared to analyst estimates of $82.15 million. The company’s quarterly revenue was up 41.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.20) EPS. On average, equities research analysts predict that Insmed Incorporated will post -4.65 earnings per share for the current 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.