Oak Ridge Investments LLC Trims Position in Insmed, Inc. $INSM

Oak Ridge Investments LLC trimmed its position in Insmed, Inc. (NASDAQ:INSM) by 35.3% in the 3rd quarter, Holdings Channel reports. The firm owned 22,136 shares of the biopharmaceutical company’s stock after selling 12,052 shares during the quarter. Oak Ridge Investments LLC’s holdings in Insmed were worth $3,188,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Insmed during the second quarter worth about $194,728,000. Orbis Allan Gray Ltd bought a new stake in shares of Insmed during the 2nd quarter valued at about $153,389,000. Qube Research & Technologies Ltd purchased a new position in shares of Insmed during the second quarter worth about $108,898,000. HRT Financial LP bought a new position in shares of Insmed in the second quarter worth approximately $73,426,000. Finally, Alkeon Capital Management LLC purchased a new stake in Insmed in the second quarter valued at approximately $50,320,000.

Insmed Trading Up 1.3%

NASDAQ INSM opened at $161.42 on Friday. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $212.75. The firm has a market capitalization of $34.43 billion, a PE ratio of -26.08 and a beta of 1.08. The company has a quick ratio of 4.34, a current ratio of 4.63 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average is $187.73 and its 200 day moving average is $154.36.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.40). The business had revenue of $142.34 million during the quarter, compared to analysts’ expectations of $114.33 million. Insmed had a negative return on equity of 183.55% and a negative net margin of 264.83%.The firm’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.27) earnings per share. Research analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Mizuho set a $212.00 price target on shares of Insmed in a report on Thursday, December 18th. Morgan Stanley set a $157.00 target price on Insmed in a report on Thursday, January 8th. Cowen set a $241.00 price target on shares of Insmed in a research report on Thursday, December 18th. The Goldman Sachs Group upped their price objective on shares of Insmed from $225.00 to $258.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Finally, Jefferies Financial Group set a $269.00 target price on Insmed in a research note on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.77.

Insider Activity at Insmed

In related news, Director Elizabeth M. Anderson sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $195.87, for a total transaction of $1,958,700.00. Following the completion of the sale, the director owned 63,729 shares of the company’s stock, valued at $12,482,599.23. This trade represents a 13.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 87,290 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $175.20, for a total value of $15,293,208.00. Following the completion of the transaction, the insider owned 41,754 shares of the company’s stock, valued at $7,315,300.80. This represents a 67.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 286,100 shares of company stock worth $52,595,894 over the last quarter. 3.00% of the stock is currently owned by company insiders.

Insmed 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.