Pictet Asset Management Holding SA Buys 537,188 Shares of Insmed, Inc. $INSM

Pictet Asset Management Holding SA grew its stake in Insmed, Inc. (NASDAQ:INSM) by 44.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,757,541 shares of the biopharmaceutical company’s stock after purchasing an additional 537,188 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.80% of Insmed worth $200,845,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Sei Investments Co. grew its stake in Insmed by 56.8% in the first quarter. Sei Investments Co. now owns 1,395,794 shares of the biopharmaceutical company’s stock worth $228,239,000 after purchasing an additional 505,624 shares in the last quarter. NWI Management LP raised its stake in Insmed by 2.6% during the first quarter. NWI Management LP now owns 1,014,000 shares of the biopharmaceutical company’s stock valued at $165,809,000 after buying an additional 25,540 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Insmed by 18.8% during the 1st quarter. Principal Financial Group Inc. now owns 916,464 shares of the biopharmaceutical company’s stock worth $149,860,000 after buying an additional 145,106 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Insmed by 480.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,266,788 shares of the biopharmaceutical company’s stock worth $144,591,000 after buying an additional 1,048,518 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Insmed during the 2nd quarter worth approximately $139,966,000.

Analysts Set New Price Targets

Several research analysts have recently commented on INSM shares. Jefferies Financial Group reiterated a “buy” rating and issued a $175.00 target price on shares of Insmed in a research report on Thursday, August 6th. Bank of America reissued a “buy” rating and set a $207.00 price target on shares of Insmed in a research report on Monday, October 12th. Evercore restated an “outperform” rating and set a $170.00 price objective on shares of Insmed in a research note on Friday, August 7th. UBS Group restated a “buy” rating on shares of Insmed in a research note on Thursday, October 8th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Insmed in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Insmed has a consensus rating of “Moderate Buy” and a consensus target price of $196.52.

Insmed Price Performance

INSM opened at $114.40 on Monday. The firm has a market cap of $25.10 billion, a price-to-earnings ratio of -40.57 and a beta of 0.83. Insmed, Inc. has a fifty-two week low of $90.39 and a fifty-two week high of $212.75. The company’s 50-day moving average price is $111.21 and its 200 day moving average price is $124.36. 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 (NASDAQ:INSM) last issued its earnings results on Thursday, October 29th. The biopharmaceutical company reported ($0.46) earnings per share (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 business had revenue of $524.43 million during the quarter, compared to the consensus estimate of $500.36 million. During the same period in the prior year, the business earned ($1.75) EPS. The business’s revenue was up 268.4% on a year-over-year basis. As a group, sell-side analysts expect that Insmed, Inc. will post -1.86 earnings per share for the current year.

Insider Buying and Selling at Insmed

In other news, Director David Brennan sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $124.00, for a total transaction of $3,100,000.00. Following the sale, the director directly owned 39,238 shares in the company, valued at approximately $4,865,512. This represents a 38.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.10% of the company’s stock.

About Insmed

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.