Pictet Asset Management Holding SA Buys 143,285 Shares of Insmed, Inc. $INSM

Pictet Asset Management Holding SA increased its stake in Insmed, Inc. (NASDAQ:INSM) by 14.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,102,248 shares of the biopharmaceutical company’s stock after buying an additional 143,285 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Insmed were worth $178,659,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CIBC Private Wealth Group LLC boosted its stake in Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 53 shares during the period. CoreCap Advisors LLC purchased a new stake in shares of Insmed in the fourth quarter worth about $27,000. GraniteShares Advisors LLC purchased a new stake in shares of Insmed in the fourth quarter worth about $30,000. Reflection Asset Management purchased a new stake in shares of Insmed in the fourth quarter worth about $30,000. Finally, Raiffeisen Bank International AG bought a new position in shares of Insmed in the fourth quarter valued at approximately $32,000.

Analysts Set New Price Targets

Several equities analysts recently commented on INSM shares. Royal Bank Of Canada reduced their price objective on shares of Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Bank of America raised their price target on shares of Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Insmed in a research report on Tuesday, April 21st. Barclays upped their price target on shares of Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a report on Wednesday, April 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.86.

Insmed Stock Performance

NASDAQ INSM opened at $103.38 on Monday. Insmed, Inc. has a 52-week low of $90.39 and a 52-week high of $212.75. The company has a fifty day moving average of $112.90 and a 200-day moving average of $143.45. The company has a market capitalization of $22.41 billion, a P/E ratio of -17.98 and a beta of 0.79. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. During the same quarter in the prior year, the firm earned ($1.42) earnings per share. The firm’s revenue was up 229.7% on a year-over-year basis. As a group, equities research analysts predict that Insmed, Inc. will post -2.55 EPS for the current fiscal year.

Insider Transactions at Insmed

In other news, CFO Sara Bonstein sold 2,404 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $245,857.08. Following the transaction, the chief financial officer directly owned 69,082 shares in the company, valued at approximately $7,065,016.14. This represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Alexander Smith sold 6,149 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $108.47, for a total value of $666,982.03. Following the transaction, the insider directly owned 41,613 shares in the company, valued at approximately $4,513,762.11. This represents a 12.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 153,349 shares of company stock valued at $22,321,619 over the last quarter. 2.10% of the stock is owned by company insiders.

Insmed Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.