Millennium Management LLC Buys 206,395 Shares of Insmed, Inc. $INSM

Millennium Management LLC lifted its stake in Insmed, Inc. (NASDAQ:INSM) by 9.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,336,112 shares of the biopharmaceutical company’s stock after buying an additional 206,395 shares during the quarter. Millennium Management LLC’s holdings in Insmed were worth $336,423,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stone House Investment Management LLC bought a new stake in Insmed in the third quarter valued at $29,000. SBI Securities Co. Ltd. raised its stake in Insmed by 404.9% during the third quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Insmed by 59.6% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 81 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Insmed by 169.7% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 151 shares in the last quarter. Finally, RiverPark Advisors LLC acquired a new stake in shares of Insmed in the 3rd quarter valued at $38,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on INSM shares. Citigroup reaffirmed an “outperform” rating on shares of Insmed in a report on Thursday, December 18th. Barclays began coverage on shares of Insmed in a research report on Tuesday, January 27th. They issued an “overweight” rating and a $231.00 price target on the stock. Morgan Stanley set a $166.00 price objective on shares of Insmed in a research note on Friday, February 20th. UBS Group dropped their price objective on shares of Insmed from $223.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, January 6th. Finally, Jefferies Financial Group assumed coverage on shares of Insmed in a research note on Monday. They issued a “buy” rating and a $228.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $205.57.

Insmed Stock Performance

Shares of NASDAQ:INSM opened at $144.60 on Tuesday. The business has a fifty day moving average of $154.57 and a 200-day moving average of $166.22. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.54 and a current ratio of 3.83. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $212.75. The firm has a market cap of $31.17 billion, a PE ratio of -22.56 and a beta of 1.13.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.47). Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The company had revenue of $263.84 million for the quarter, compared to analyst estimates of $263.97 million. During the same quarter last year, the company earned ($1.32) EPS. The firm’s quarterly revenue was up 152.6% on a year-over-year basis. On average, equities research analysts predict that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Insider Transactions at Insmed

In other news, insider Orlov S. Nicole Schaeffer sold 87,290 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $175.20, for a total transaction of $15,293,208.00. Following the transaction, the insider directly owned 41,754 shares in the company, valued at approximately $7,315,300.80. This represents a 67.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Lewis sold 19,215 shares of the stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $169.00, for a total transaction of $3,247,335.00. Following the sale, the chief executive officer directly owned 306,891 shares in the company, valued at $51,864,579. This trade represents a 5.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 189,651 shares of company stock valued at $31,784,545. Insiders own 3.00% of the company’s stock.

Insmed Company Profile

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.