Tri Locum Partners LP Buys New Position in Insmed Incorporated (NASDAQ:INSM)

Tri Locum Partners LP purchased a new position in Insmed Incorporated (NASDAQ:INSM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 316,501 shares of the biopharmaceutical company’s stock, valued at approximately $21,206,000. Insmed makes up approximately 5.4% of Tri Locum Partners LP’s portfolio, making the stock its 7th biggest position. Tri Locum Partners LP owned 0.21% of Insmed at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Insmed by 2.7% in the first quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock worth $393,636,000 after purchasing an additional 383,714 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Insmed by 15.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,657,760 shares of the biopharmaceutical company’s stock valued at $111,069,000 after acquiring an additional 218,480 shares during the period. Capital International Investors purchased a new stake in shares of Insmed in the 1st quarter valued at $43,973,000. Norges Bank acquired a new stake in shares of Insmed in the fourth quarter worth $45,029,000. Finally, Hood River Capital Management LLC increased its stake in shares of Insmed by 36.7% in the second quarter. Hood River Capital Management LLC now owns 1,315,392 shares of the biopharmaceutical company’s stock worth $88,131,000 after acquiring an additional 352,891 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have commented on INSM. Wells Fargo & Company upped their price target on shares of Insmed from $55.00 to $77.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of Insmed in a research note on Thursday, August 29th. Barclays lifted their price target on Insmed from $40.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Evercore ISI upped their price objective on Insmed from $42.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Finally, Guggenheim raised their price objective 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 investment 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 company has a consensus rating of “Moderate Buy” and an average target price of $81.40.

Insmed Stock Down 1.0 %

Shares of NASDAQ INSM opened at $74.21 on Monday. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of -14.19 and a beta of 1.11. The company’s 50-day simple moving average is $74.68 and its 200-day simple moving average is $52.21. The company has a quick ratio of 2.53, a current ratio of 2.71 and a debt-to-equity ratio of 25.05. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53.

Insmed (NASDAQ:INSM) last posted 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 company 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) EPS. The company’s revenue was up 17.0% compared to the same quarter last year. Equities analysts predict that Insmed Incorporated will post -5.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Martina M.D. Flammer sold 13,436 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the transaction, the insider now directly owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Insmed news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 100,100 shares of the company’s stock, valued at approximately $7,157,150. 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 13,436 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the sale, the insider now owns 106,134 shares of the company’s stock, valued at $7,951,559.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is owned by corporate insiders.

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.