Legal & General Group Plc decreased its position in shares of Insmed Incorporated (NASDAQ:INSM) by 3.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,254 shares of the biopharmaceutical company’s stock after selling 2,227 shares during the period. Legal & General Group Plc owned approximately 0.06% of Insmed worth $870,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. NumerixS Investment Technologies Inc bought a new position in Insmed during the fourth quarter valued at $43,000. Great West Life Assurance Co. Can bought a new position in Insmed during the fourth quarter valued at $133,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Insmed by 16.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,771 shares of the biopharmaceutical company’s stock valued at $109,000 after acquiring an additional 953 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Insmed during the fourth quarter valued at $258,000. Finally, Proficio Capital Partners LLC bought a new position in Insmed during the first quarter valued at $200,000. Institutional investors and hedge funds own 95.51% of the company’s stock.
A number of research firms have recently commented on INSM. BidaskClub upgraded shares of Insmed from a “sell” rating to a “hold” rating in a report on Tuesday, May 5th. Zacks Investment Research cut shares of Insmed from a “buy” rating to a “hold” rating in a report on Tuesday, June 2nd. ValuEngine cut shares of Insmed from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 24th. Credit Suisse Group cut their price target on shares of Insmed from $49.00 to $42.00 and set an “outperform” rating on the stock in a report on Tuesday, March 17th. Finally, HC Wainwright restated a “buy” rating and issued a $52.00 price target on shares of Insmed in a report on Thursday, June 25th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Insmed presently has an average rating of “Buy” and an average price target of $40.44.
Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.72) by ($0.02). The business had revenue of $36.90 million during the quarter, compared to analysts’ expectations of $34.81 million. Insmed had a negative return on equity of 87.35% and a negative net margin of 162.82%. The firm’s revenue was up 68.5% compared to the same quarter last year. During the same period last year, the company earned ($0.96) earnings per share. Sell-side analysts anticipate that Insmed Incorporated will post -2.78 EPS for the current fiscal year.
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.
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