Insmed Incorporated (NASDAQ:INSM) Shares Bought by Arizona State Retirement System

Arizona State Retirement System increased its position in shares of Insmed Incorporated (NASDAQ:INSM) by 5.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 39,491 shares of the biopharmaceutical company’s stock after acquiring an additional 2,140 shares during the period. Arizona State Retirement System’s holdings in Insmed were worth $2,646,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Rafferty Asset Management LLC raised its position in Insmed by 17.4% during the fourth quarter. Rafferty Asset Management LLC now owns 321,087 shares of the biopharmaceutical company’s stock worth $9,950,000 after acquiring an additional 47,563 shares during the last quarter. Kingdon Capital Management L.L.C. purchased a new stake in Insmed in the 4th quarter valued at approximately $12,551,000. Artia Global Partners LP acquired a new stake in Insmed during the 4th quarter valued at $2,322,000. Norges Bank purchased a new position in Insmed during the fourth quarter worth $45,029,000. Finally, Clearbridge Investments LLC acquired a new position in shares of Insmed in the first quarter worth $25,242,000.

Insmed Stock Performance

Shares of NASDAQ:INSM opened at $71.82 on Tuesday. The business has a 50-day moving average of $73.85 and a two-hundred day moving average of $49.02. The firm has a market capitalization of $12.34 billion, a PE ratio of -13.73 and a beta of 1.11. The company has a debt-to-equity ratio of 25.05, a current ratio of 2.71 and a quick ratio of 2.53. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The company had revenue of $90.34 million for the quarter, compared to analysts’ expectations of $87.95 million. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted ($1.78) earnings per share. As a group, research analysts forecast that Insmed Incorporated will post -5.42 earnings per share for the current year.

Wall Street Analyst Weigh In

INSM has been the topic of a number of analyst reports. Evercore ISI increased their price objective on Insmed from $42.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a report on Monday. StockNews.com lowered shares of Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of Insmed in a research report on Thursday, August 29th. Finally, Morgan Stanley boosted their price target on Insmed from $60.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.19.

Insmed 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.