Brighton Jones LLC Makes New Investment in Insmed, Inc. $INSM

Brighton Jones LLC bought a new position in shares of Insmed, Inc. (NASDAQ:INSM) in the third quarter, Holdings Channel reports. The firm bought 10,311 shares of the biopharmaceutical company’s stock, valued at approximately $1,177,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Candriam S.C.A. lifted its holdings in shares of Insmed by 4.7% in the third quarter. Candriam S.C.A. now owns 581,069 shares of the biopharmaceutical company’s stock valued at $66,566,000 after purchasing an additional 25,938 shares in the last quarter. Ethic Inc. boosted its position in Insmed by 109.9% during the 3rd quarter. Ethic Inc. now owns 10,498 shares of the biopharmaceutical company’s stock worth $1,198,000 after acquiring an additional 5,496 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Insmed by 44.0% during the 3rd quarter. Pictet Asset Management Holding SA now owns 1,757,541 shares of the biopharmaceutical company’s stock worth $200,845,000 after acquiring an additional 537,188 shares during the last quarter. AlphaCentric Advisors LLC boosted its position in Insmed by 4.2% during the 3rd quarter. AlphaCentric Advisors LLC now owns 12,195 shares of the biopharmaceutical company’s stock worth $1,392,000 after acquiring an additional 496 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Insmed by 5.4% in the 3rd quarter. Parallel Advisors LLC now owns 2,275 shares of the biopharmaceutical company’s stock valued at $260,000 after buying an additional 117 shares during the last quarter.

Insmed Trading Up 1.1%

INSM opened at $120.75 on Thursday. The company has a quick ratio of 2.59, a current ratio of 2.86 and a debt-to-equity ratio of 0.77. Insmed, Inc. has a twelve month low of $90.39 and a twelve month high of $212.75. The company has a 50-day simple moving average of $111.10 and a 200 day simple moving average of $123.78.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, October 29th. The biopharmaceutical company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.08). Insmed had a negative return on equity of 96.38% and a negative net margin of 39.85%. The company had revenue of $524.43 million during the quarter, compared to the consensus estimate of $500.36 million. During the same period last year, the company posted ($1.75) EPS. The firm’s revenue was up 268.4% compared to the same quarter last year. On average, research analysts predict that Insmed, Inc. will post -1.86 earnings per share for the current fiscal year.

Insider Transactions at Insmed

In related news, Director David Brennan sold 25,000 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $124.00, for a total value of $3,100,000.00. Following the completion of the sale, the director directly owned 39,238 shares in the company, valued at $4,865,512. This represents a 38.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. UBS Group restated a “buy” rating on shares of Insmed in a research note on Thursday, October 8th. Barclays dropped their price objective on Insmed from $237.00 to $207.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 30th. Wells Fargo & Company increased their price objective on Insmed from $161.00 to $169.00 and gave the company an “overweight” rating in a report on Friday, August 7th. JPMorgan Chase & Co. decreased their target price on shares of Insmed from $179.00 to $175.00 and set an “overweight” rating for the company in a research note on Monday, August 10th. Finally, HC Wainwright assumed coverage on shares of Insmed in a report on Wednesday, November 4th. They set a “buy” rating and a $220.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Insmed currently has an average rating of “Moderate Buy” and a consensus price target of $196.52.

Insmed Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing treatments for serious diseases, including respiratory and rare conditions. The company is based in Bridgewater, New Jersey, and is led by President and Chief Executive Officer William H. Lewis Jr. Its commercial products include ARIKAYCE, an inhaled amikacin treatment for certain adults with refractory Mycobacterium avium complex lung disease, and BRINSUPRI (brensocatib), an oral treatment for non-cystic fibrosis bronchiectasis.