Oppenheimer Asset Management Inc. Invests $449,000 in Insmed Incorporated (NASDAQ:INSM)

Oppenheimer Asset Management Inc. purchased a new position in Insmed Incorporated (NASDAQ:INSM) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,698 shares of the biopharmaceutical company’s stock, valued at approximately $449,000.

Other hedge funds also recently bought and sold shares of the company. EntryPoint Capital LLC bought a new position in shares of Insmed in the first quarter worth approximately $33,000. Fidelis Capital Partners LLC bought a new position in Insmed in the 1st quarter valued at approximately $34,000. First Horizon Advisors Inc. lifted its position in Insmed by 83.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 287 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Insmed during the 1st quarter valued at $59,000. Finally, CWM LLC increased its holdings in shares of Insmed by 11.0% in the 2nd 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.

Wall Street Analysts Forecast Growth

Several research firms recently commented on INSM. Mizuho increased their price objective on Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Truist Financial reduced their price target on shares of Insmed from $88.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Wells Fargo & Company increased their price objective on shares of Insmed from $55.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Bank of America reiterated a “buy” rating and set a $83.00 target price on shares of Insmed in a research note on Friday, July 5th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $81.40.

Insmed Trading Down 1.0 %

Insmed stock opened at $74.21 on Friday. The company has a current ratio of 2.71, a quick ratio of 2.53 and a debt-to-equity ratio of 25.05. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $80.53. The firm has a market capitalization of $11.03 billion, a price-to-earnings ratio of -14.19 and a beta of 1.11. The firm has a 50 day moving average of $74.68 and a 200 day moving average of $51.87.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The firm had revenue of $90.34 million for the quarter, compared to analysts’ expectations of $87.95 million. During the same quarter last year, the firm earned ($1.78) EPS. Insmed’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, research analysts predict that Insmed Incorporated will post -5.42 earnings per share for the current year.

Insider Activity

In related news, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the sale, the insider now owns 67,856 shares in the company, valued at $5,045,093.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Insmed news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the transaction, the insider now owns 100,100 shares of the company’s stock, valued at approximately $7,157,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Alexander Smith sold 27,871 shares of Insmed stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the sale, the insider now directly owns 67,856 shares in the company, valued at $5,045,093.60. The disclosure for this sale can be found here. Insiders have sold 78,882 shares of company stock worth $5,765,446 over the last ninety days. Corporate insiders own 4.60% of the company’s stock.

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.