Insmed Incorporated (NASDAQ:INSM) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. decreased its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 23.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,456 shares of the biopharmaceutical company’s stock after selling 27,195 shares during the period. Hennion & Walsh Asset Management Inc. owned about 0.06% of Insmed worth $6,384,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of INSM. Darwin Global Management Ltd. bought a new position in Insmed during the 2nd quarter worth approximately $237,076,000. Capital International Investors bought a new position in Insmed during the first quarter worth $43,973,000. Clearbridge Investments LLC acquired a new position in Insmed in the first quarter worth $25,242,000. Fiera Capital Corp acquired a new position in Insmed in the second quarter worth $40,570,000. Finally, Farallon Capital Management LLC bought a new stake in Insmed during the second quarter valued at $38,056,000.

Insider Buying and Selling at Insmed

In related news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction on 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 directly owns 106,134 shares in the company, valued at $7,951,559.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction 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 approximately $7,951,559.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of Insmed stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the transaction, the insider now directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,882 shares of company stock valued at $5,765,446. Corporate insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

INSM has been the subject of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Insmed in a research report on Thursday, August 29th. Stifel Nicolaus increased their target price on Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their target price on Insmed from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a report on Monday, September 9th. Finally, Bank of America boosted 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. One 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $82.73.

Insmed Price Performance

NASDAQ:INSM opened at $71.94 on Thursday. The company has a quick ratio of 2.53, a current ratio of 2.71 and a debt-to-equity ratio of 25.05. The business’s 50-day moving average price is $73.98 and its 200 day moving average price is $59.42. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53. The firm has a market cap of $10.69 billion, a P/E ratio of -13.76 and a beta of 1.11.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The firm had revenue of $90.34 million for the quarter, compared to the consensus estimate of $87.95 million. Insmed’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.78) earnings per share. As a group, sell-side analysts predict that Insmed Incorporated will post -5.41 earnings per share for the current fiscal year.

About Insmed

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.