Insmed Incorporated (NASDAQ:INSM) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in Insmed Incorporated (NASDAQ:INSM) by 672.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 147,140 shares of the biopharmaceutical company’s stock after purchasing an additional 128,098 shares during the period. Victory Capital Management Inc. owned about 0.10% of Insmed worth $9,858,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of INSM. Vanguard Group Inc. lifted its stake in Insmed by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock worth $393,636,000 after acquiring an additional 383,714 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Insmed by 15.2% in the second quarter. Principal Financial Group Inc. now owns 1,657,760 shares of the biopharmaceutical company’s stock valued at $111,069,000 after purchasing an additional 218,480 shares during the period. Capital International Investors acquired a new position in shares of Insmed in the first quarter valued at approximately $43,973,000. Norges Bank purchased a new stake in Insmed during the 4th quarter worth approximately $45,029,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Insmed by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,128,436 shares of the biopharmaceutical company’s stock worth $34,970,000 after buying an additional 28,629 shares during the period.

Insiders Place Their Bets

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value of $2,686,612.50. Following the completion of the sale, the insider now directly owns 100,100 shares of the company’s stock, valued at $7,157,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.60% of the stock is currently owned by corporate insiders.

Insmed Trading Up 1.0 %

NASDAQ INSM opened at $74.66 on Friday. The firm’s fifty day moving average price is $74.65 and its 200 day moving average price is $50.44. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53. The company has a debt-to-equity ratio of 25.05, a current ratio of 2.71 and a quick ratio of 2.53. The company has a market capitalization of $12.83 billion, a price-to-earnings ratio of -14.28 and a beta of 1.11.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The business had revenue of $90.34 million during the quarter, compared to the consensus estimate of $87.95 million. During the same quarter last year, the firm posted ($1.78) earnings per share. The business’s revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts expect that Insmed Incorporated will post -5.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on INSM shares. The Goldman Sachs Group boosted their price target on shares of Insmed from $74.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. StockNews.com downgraded Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Evercore ISI lifted their price objective on Insmed from $42.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Morgan Stanley upped their target price on shares of Insmed from $60.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. Finally, Guggenheim lifted their price target on shares of Insmed from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and an average price target of $79.19.

About Insmed

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.