Wealth Enhancement Advisory Services LLC Takes $256,000 Position in Insmed Incorporated (NASDAQ:INSM)

Wealth Enhancement Advisory Services LLC acquired a new stake in Insmed Incorporated (NASDAQ:INSM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,823 shares of the biopharmaceutical company’s stock, valued at approximately $256,000.

A number of other institutional investors have also recently added to or reduced their stakes in INSM. CWM LLC boosted its position in Insmed by 11.0% during the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 155 shares in the last quarter. RVW Wealth LLC acquired a new position in shares of Insmed during the 2nd quarter worth $284,000. Transcend Capital Advisors LLC purchased a new stake in shares of Insmed in the 2nd quarter worth about $314,000. Comerica Bank grew its stake in Insmed by 3,984.1% in the 1st quarter. Comerica Bank now owns 49,540 shares of the biopharmaceutical company’s stock valued at $1,344,000 after acquiring an additional 48,327 shares during the last quarter. Finally, Kennedy Capital Management LLC purchased a new position in Insmed during the 1st quarter valued at about $267,000.

Analyst Ratings Changes

Several brokerages have issued reports on INSM. Bank of America reaffirmed a “buy” rating and issued a $83.00 price target on shares of Insmed in a report on Friday, July 5th. UBS Group increased their target price on Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, August 9th. Guggenheim upped their price objective on Insmed from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. The Goldman Sachs Group lifted their price objective on Insmed from $74.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Insmed currently has an average rating of “Moderate Buy” and an average target price of $79.19.

Insider Transactions at Insmed

In related news, CFO Sara Bonstein sold 220,564 shares of Insmed stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $50.00, for a total transaction of $11,028,200.00. Following the transaction, the chief financial officer now owns 117,481 shares in the company, valued at approximately $5,874,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Insmed news, CFO Sara Bonstein sold 220,564 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $50.00, for a total value of $11,028,200.00. Following the transaction, the chief financial officer now directly owns 117,481 shares of the company’s stock, valued at $5,874,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Martina M.D. Flammer sold 21,195 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $55.00, for a total value of $1,165,725.00. Following the transaction, the insider now owns 106,134 shares in the company, valued at approximately $5,837,370. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $75.21 on Tuesday. The firm has a market capitalization of $11.18 billion, a PE ratio of -14.38 and a beta of 1.16. Insmed Incorporated has a 12 month low of $21.21 and a 12 month high of $80.53. The business has a 50-day moving average of $72.44 and a two-hundred day moving average of $46.06.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The company had revenue of $90.34 million for the quarter, compared to analysts’ expectations of $87.95 million. During the same period in the previous year, the business posted ($1.78) earnings per share. The business’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, research analysts anticipate that Insmed Incorporated will post -4.71 earnings per share for the current 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.