Hennion & Walsh Asset Management Inc. Buys 8,877 Shares of Insmed Incorporated (NASDAQ:INSM)

Hennion & Walsh Asset Management Inc. lifted its position in Insmed Incorporated (NASDAQ:INSM) by 6.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 146,912 shares of the biopharmaceutical company’s stock after purchasing an additional 8,877 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Insmed were worth $3,986,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Rhumbline Advisers lifted its stake in Insmed by 2.1% in the 3rd quarter. Rhumbline Advisers now owns 197,643 shares of the biopharmaceutical company’s stock worth $4,990,000 after purchasing an additional 4,081 shares in the last quarter. Federated Hermes Inc. purchased a new stake in shares of Insmed in the third quarter worth $418,000. Northern Trust Corp boosted its stake in Insmed by 1.7% during the third quarter. Northern Trust Corp now owns 1,346,432 shares of the biopharmaceutical company’s stock valued at $33,997,000 after buying an additional 21,875 shares during the period. Teza Capital Management LLC bought a new position in Insmed in the 3rd quarter worth about $368,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Insmed in the 3rd quarter valued at about $5,136,000.

Analysts Set New Price Targets

INSM has been the topic of a number of research analyst reports. Bank of America increased their price target on shares of Insmed from $62.00 to $83.00 and gave the stock a “buy” rating in a report on Friday. Truist Financial upped their price objective on Insmed from $48.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. JPMorgan Chase & Co. raised their price objective on Insmed from $55.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. HC Wainwright upped their target price on Insmed from $52.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research note on Thursday, June 20th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.06.

Insiders Place Their Bets

In other news, insider John Drayton Wise sold 5,088 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total transaction of $129,591.36. Following the sale, the insider now owns 123,259 shares in the company, valued at approximately $3,139,406.73. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Insmed news, insider Martina M.D. Flammer sold 21,195 shares of Insmed stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $55.00, for a total transaction of $1,165,725.00. Following the completion of the transaction, the insider now owns 106,134 shares in the company, valued at $5,837,370. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Drayton Wise sold 5,088 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total value of $129,591.36. Following the transaction, the insider now owns 123,259 shares of the company’s stock, valued at $3,139,406.73. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 295,842 shares of company stock worth $13,762,062. 4.60% of the stock is owned by corporate insiders.

Insmed Stock Performance

Shares of Insmed stock opened at $67.00 on Friday. Insmed Incorporated has a 52 week low of $19.74 and a 52 week high of $70.65. The business has a 50 day moving average of $42.54 and a 200 day moving average of $33.15.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.06) EPS for the quarter, topping the consensus estimate of ($1.22) by $0.16. The company had revenue of $75.50 million during the quarter, compared to analysts’ expectations of $77.76 million. During the same quarter last year, the business earned ($1.17) earnings per share. The business’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, equities research analysts forecast that Insmed Incorporated will post -4.58 EPS for the current fiscal year.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.