Raymond James & Associates Sells 3,098 Shares of Insmed Incorporated (NASDAQ:INSM)

Raymond James & Associates lessened its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,116 shares of the biopharmaceutical company’s stock after selling 3,098 shares during the period. Raymond James & Associates’ holdings in Insmed were worth $1,274,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Almanack Investment Partners LLC. bought a new position in Insmed during the 3rd quarter worth $25,000. State of Wyoming bought a new position in shares of Insmed in the 4th quarter valued at $31,000. Quantbot Technologies LP increased its stake in shares of Insmed by 2,170.4% in the 2nd quarter. Quantbot Technologies LP now owns 2,452 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 2,344 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Insmed by 106.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,698 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 1,910 shares during the last quarter. Finally, Vestcor Inc bought a new position in shares of Insmed in the 4th quarter valued at $75,000.

Analysts Set New Price Targets

Several brokerages have recently issued reports on INSM. Barclays lifted their price target on Insmed from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Guggenheim lifted their price target on Insmed from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Wolfe Research started coverage on Insmed in a research note on Thursday, February 15th. They issued an “outperform” rating and a $42.00 price target on the stock. UBS Group started coverage on Insmed in a research report on Tuesday, February 27th. They set a “buy” rating and a $46.00 price objective on the stock. Finally, StockNews.com upgraded Insmed from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.64.

Insmed Trading Down 1.9 %

Shares of INSM opened at $24.32 on Friday. The company has a market capitalization of $3.61 billion, a PE ratio of -4.55 and a beta of 0.92. Insmed Incorporated has a 12 month low of $17.41 and a 12 month high of $32.00. The stock’s 50-day moving average price is $27.37 and its two-hundred day moving average price is $27.03.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.15). The business had revenue of $83.70 million during the quarter, compared to analysts’ expectations of $82.15 million. The company’s revenue for the quarter was up 41.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.20) earnings per share. Equities research analysts predict that Insmed Incorporated will post -4.65 EPS for the current fiscal year.

Insmed Company Profile

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.