Farallon Capital Management LLC Invests $38.06 Million in Insmed Incorporated (NASDAQ:INSM)

Farallon Capital Management LLC purchased a new stake 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. The firm purchased 568,000 shares of the biopharmaceutical company’s stock, valued at approximately $38,056,000. Farallon Capital Management LLC owned 0.38% of Insmed at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. EntryPoint Capital LLC bought a new position in Insmed in the 1st quarter valued at about $33,000. Fidelis Capital Partners LLC bought a new position in shares of Insmed in the first quarter valued at approximately $34,000. First Horizon Advisors Inc. lifted its holdings in shares of Insmed by 83.4% in the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 287 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Insmed during the first quarter valued at approximately $59,000. Finally, CWM LLC grew its holdings in Insmed by 11.0% during the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 155 shares in the last quarter.

Insmed Stock Performance

Insmed stock opened at $71.82 on Tuesday. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The company has a debt-to-equity ratio of 25.05, a quick ratio of 2.53 and a current ratio of 2.71. The stock has a market cap of $10.67 billion, a P/E ratio of -13.73 and a beta of 1.11. The firm’s fifty day moving average price is $74.57 and its 200-day moving average price is $52.52.

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

Analysts Set New Price Targets

INSM has been the subject of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. Bank of America reaffirmed a “buy” rating and set a $83.00 target price on shares of Insmed in a research report on Friday, July 5th. Mizuho lifted their target price on Insmed from $36.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Stifel Nicolaus increased their price target on shares of Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company lifted their price objective on shares of Insmed from $55.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Insmed presently has an average rating of “Moderate Buy” and an average target price of $81.40.

Insider Activity

In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction 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 directly owns 106,134 shares of the company’s stock, valued at $7,951,559.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction dated 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 transaction, the insider now owns 106,134 shares in the company, valued at $7,951,559.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,882 shares of company stock valued at $5,765,446. Corporate 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.