EP Wealth Advisors LLC Buys Shares of 16,303 Insmed Incorporated (NASDAQ:INSM)

EP Wealth Advisors LLC bought a new stake in Insmed Incorporated (NASDAQ:INSM) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,303 shares of the biopharmaceutical company’s stock, valued at approximately $442,000.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in shares of Insmed in the fourth quarter valued at $25,000. EntryPoint Capital LLC purchased a new position in shares of Insmed in the first quarter valued at $33,000. Fidelis Capital Partners LLC purchased a new position in shares of Insmed in the first quarter valued at $34,000. Headlands Technologies LLC purchased a new position in shares of Insmed in the first quarter valued at $59,000. Finally, Quarry LP purchased a new position in shares of Insmed in the fourth quarter valued at $116,000.

Insmed Price Performance

INSM traded up $0.04 during midday trading on Friday, reaching $74.54. 1,423,882 shares of the company’s stock traded hands, compared to its average volume of 2,531,316. The firm has a fifty day moving average of $61.37 and a two-hundred day moving average of $39.07. The stock has a market capitalization of $11.08 billion, a price-to-earnings ratio of -14.25 and a beta of 1.16. Insmed Incorporated has a 52 week low of $20.33 and a 52 week high of $78.87.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.16. The business had revenue of $75.50 million for the quarter, compared to the consensus estimate of $77.76 million. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the company earned ($1.17) EPS. Sell-side analysts forecast that Insmed Incorporated will post -4.71 EPS for the current year.

Insiders Place Their Bets

In other Insmed news, insider Martina M.D. Flammer sold 21,195 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 106,134 shares in the company, valued at approximately $5,837,370. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Sara Bonstein sold 220,564 shares of the company’s stock in a transaction that occurred on 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 sale, 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 link. Also, insider Martina M.D. Flammer sold 21,195 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, 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. In the last quarter, insiders have sold 295,842 shares of company stock worth $13,762,062. Company insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Bank of America reiterated a “buy” rating and issued a $83.00 price target on shares of Insmed in a research report on Friday, July 5th. Wells Fargo & Company boosted their target price on Insmed from $55.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. StockNews.com upgraded Insmed from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. UBS Group boosted their target price on Insmed from $46.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Finally, Guggenheim boosted their target price on Insmed from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.50.

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.