Louisiana State Employees Retirement System Invests $2.32 Million in Insmed, Inc. $INSM

Louisiana State Employees Retirement System bought a new stake in Insmed, Inc. (NASDAQ:INSM) in the first quarter, HoldingsChannel reports. The fund bought 14,200 shares of the biopharmaceutical company’s stock, valued at approximately $2,322,000.

Several other hedge funds have also modified their holdings of INSM. OP Asset Management Ltd acquired a new position in Insmed during the 1st quarter worth approximately $3,634,000. Banque Cantonale Vaudoise grew its position in Insmed by 116.1% in the first quarter. Banque Cantonale Vaudoise now owns 3,923 shares of the biopharmaceutical company’s stock valued at $641,000 after acquiring an additional 2,108 shares in the last quarter. PKO Investment Management Joint Stock Co grew its position in Insmed by 4.4% in the first quarter. PKO Investment Management Joint Stock Co now owns 11,800 shares of the biopharmaceutical company’s stock valued at $1,930,000 after acquiring an additional 500 shares in the last quarter. Values First Advisors Inc. raised its stake in shares of Insmed by 7.1% during the first quarter. Values First Advisors Inc. now owns 2,203 shares of the biopharmaceutical company’s stock valued at $360,000 after purchasing an additional 146 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Insmed by 105.4% during the first quarter. SG Americas Securities LLC now owns 137,149 shares of the biopharmaceutical company’s stock worth $22,427,000 after purchasing an additional 70,387 shares in the last quarter.

Wall Street Analyst Weigh In

INSM has been the subject of several analyst reports. Raymond James Financial assumed coverage on shares of Insmed in a research note on Friday, April 10th. They issued an “outperform” rating and a $200.00 target price for the company. Leerink Partners lifted their price target on shares of Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 24th. Wells Fargo & Company cut their price objective on shares of Insmed from $177.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Bank of America upped their price objective on shares of Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Finally, Guggenheim lowered their target price on Insmed from $230.00 to $226.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.86.

Insmed Stock Up 1.3%

Shares of NASDAQ:INSM opened at $104.74 on Tuesday. The firm has a market cap of $22.70 billion, a PE ratio of -18.22 and a beta of 0.79. The company has a fifty day simple moving average of $112.14 and a 200 day simple moving average of $142.82. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. Insmed, Inc. has a 12-month low of $90.39 and a 12-month high of $212.75.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. The firm had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm’s revenue was up 229.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.42) EPS. On average, equities research analysts anticipate that Insmed, Inc. will post -2.55 EPS for the current fiscal year.

Insider Activity at Insmed

In other news, CFO Sara Bonstein sold 2,404 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $245,857.08. Following the transaction, the chief financial officer owned 69,082 shares of the company’s stock, valued at approximately $7,065,016.14. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Alexander Smith sold 1,806 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $95.82, for a total transaction of $173,050.92. Following the transaction, the insider directly owned 37,648 shares in the company, valued at $3,607,431.36. The trade was a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 153,349 shares of company stock worth $22,321,619. Company insiders own 2.10% of the company’s stock.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.