Stifel Financial Corp Sells 1,973 Shares of Insmed Incorporated (NASDAQ:INSM)

Stifel Financial Corp trimmed its stake in Insmed Incorporated (NASDAQ:INSM) by 5.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,854 shares of the biopharmaceutical company’s stock after selling 1,973 shares during the period. Stifel Financial Corp’s holdings in Insmed were worth $2,471,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of INSM. Wealth Enhancement Advisory Services LLC acquired a new stake in Insmed during the second quarter worth about $256,000. Envestnet Portfolio Solutions Inc. bought a new position in Insmed in the second quarter worth $330,000. Raymond James & Associates boosted its stake in Insmed by 4.7% during the second quarter. Raymond James & Associates now owns 64,944 shares of the biopharmaceutical company’s stock worth $4,351,000 after buying an additional 2,943 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Insmed by 8.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 135 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Insmed by 83.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 287 shares during the period.

Insmed Trading Down 5.2 %

INSM stock opened at $70.00 on Thursday. The business has a fifty day moving average of $72.49 and a 200-day moving average of $71.70. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The company has a market cap of $12.52 billion, a P/E ratio of -12.61 and a beta of 1.10. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $80.53.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The firm had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. During the same period last year, the company posted ($1.10) EPS. Insmed’s revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, equities research analysts expect that Insmed Incorporated will post -5.44 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on INSM. 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. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their price objective on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. Finally, HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Insmed in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.67.

Insmed 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.