Hennion & Walsh Asset Management Inc. Lowers Stock Position in Insmed Incorporated (NASDAQ:INSM)

Hennion & Walsh Asset Management Inc. lowered its position in Insmed Incorporated (NASDAQ:INSM) by 22.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 114,651 shares of the biopharmaceutical company’s stock after selling 32,261 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Insmed were worth $7,682,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital International Investors bought a new position in Insmed during the first quarter worth about $43,973,000. Norges Bank purchased a new position in shares of Insmed during the fourth quarter worth approximately $45,029,000. Clearbridge Investments LLC purchased a new position in shares of Insmed during the first quarter worth approximately $25,242,000. Assenagon Asset Management S.A. raised its stake in shares of Insmed by 325.8% during the first quarter. Assenagon Asset Management S.A. now owns 1,211,560 shares of the biopharmaceutical company’s stock worth $32,870,000 after acquiring an additional 927,040 shares in the last quarter. Finally, Vestal Point Capital LP bought a new position in shares of Insmed in the fourth quarter worth approximately $27,891,000.

Insmed Trading Up 1.0 %

NASDAQ:INSM traded up $0.73 during midday trading on Monday, hitting $76.93. 1,006,173 shares of the company traded hands, compared to its average volume of 2,484,672. The firm’s fifty day moving average is $70.64 and its 200-day moving average is $44.01. Insmed Incorporated has a 12-month low of $21.21 and a 12-month high of $78.87. The firm has a market capitalization of $11.43 billion, a P/E ratio of -14.57 and a beta of 1.16.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The firm had revenue of $90.34 million during the quarter, compared to analyst estimates of $87.95 million. During the same quarter last year, the firm earned ($1.78) earnings per share. The company’s quarterly revenue was up 17.0% on a year-over-year basis. On average, research analysts expect that Insmed Incorporated will post -4.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wells Fargo & Company lifted 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. The Goldman Sachs Group lifted their price target on Insmed from $74.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price target on shares of Insmed in a research report on Monday, August 12th. Stifel Nicolaus lifted their price target on Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their price target on Insmed from $55.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.19.

Insider Transactions at Insmed

In related news, insider John Drayton Wise sold 7,852 shares of Insmed stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $49.79, for a total transaction of $390,951.08. Following the completion of the sale, the insider now owns 121,657 shares of the company’s stock, valued at $6,057,302.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Sara Bonstein sold 220,564 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $50.00, for a total transaction of $11,028,200.00. Following the completion of the transaction, the chief financial officer now directly owns 117,481 shares of the company’s stock, valued at approximately $5,874,050. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John Drayton Wise sold 7,852 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $49.79, for a total value of $390,951.08. Following the transaction, the insider now directly owns 121,657 shares of the company’s stock, valued at $6,057,302.03. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 249,611 shares of company stock worth $12,584,876. 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.