State of New Jersey Common Pension Fund D Grows Position in Insmed Incorporated (NASDAQ:INSM)

State of New Jersey Common Pension Fund D boosted its stake in Insmed Incorporated (NASDAQ:INSM) by 5.2% in the third quarter, Holdings Channel.com reports. The firm owned 59,623 shares of the biopharmaceutical company’s stock after acquiring an additional 2,962 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Insmed were worth $4,352,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of INSM. Darwin Global Management Ltd. purchased a new stake in Insmed during the second quarter worth approximately $237,076,000. Capital International Investors purchased a new stake in Insmed during the first quarter worth approximately $43,973,000. Clearbridge Investments LLC purchased a new stake in Insmed during the first quarter worth approximately $25,242,000. Fiera Capital Corp purchased a new stake in Insmed during the second quarter worth approximately $40,570,000. Finally, Farallon Capital Management LLC purchased a new stake in Insmed during the second quarter worth approximately $38,056,000.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INSM. HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of Insmed in a research note on Friday, November 1st. StockNews.com downgraded shares of Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. TD Cowen upped their target price on shares of Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Bank of America upped their target price on shares of Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Truist Financial restated a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.07.

Insmed Stock Down 2.3 %

Shares of NASDAQ:INSM opened at $70.14 on Wednesday. The stock has a market capitalization of $12.55 billion, a price-to-earnings ratio of -12.64 and a beta of 1.12. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $80.53. The company’s fifty day moving average is $72.42 and its two-hundred day moving average is $63.72. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The company had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. During the same quarter in the previous year, the business posted ($1.10) earnings per share. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. Equities analysts anticipate that Insmed Incorporated will post -5.42 EPS for the current year.

Insider Buying and Selling

In related 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 value of $2,686,612.50. Following the sale, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 value of $2,686,612.50. Following the sale, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the transaction, the insider now owns 67,856 shares of the company’s stock, valued at $5,045,093.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,882 shares of company stock valued at $5,765,446 in the last quarter. Company insiders own 4.60% of the company’s stock.

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.