Allstate Corp Buys New Holdings in Insmed, Inc. $INSM

Allstate Corp bought a new stake in Insmed, Inc. (NASDAQ:INSM) in the fourth quarter, Holdings Channel reports. The institutional investor bought 15,870 shares of the biopharmaceutical company’s stock, valued at approximately $2,762,000.

Several other hedge funds have also recently bought and sold shares of the stock. CIBC Private Wealth Group LLC raised its stake in Insmed by 42.1% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 53 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in Insmed by 2.7% during the third quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company’s stock worth $334,000 after acquiring an additional 60 shares in the last quarter. Choreo LLC raised its stake in Insmed by 2.9% during the third quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company’s stock worth $334,000 after acquiring an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Insmed by 10.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company’s stock worth $130,000 after acquiring an additional 69 shares in the last quarter. Finally, ORG Partners LLC raised its stake in Insmed by 12.7% during the fourth quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 74 shares in the last quarter.

Wall Street Analysts Forecast Growth

INSM has been the topic of several research analyst reports. Mizuho increased their target price on Insmed from $204.00 to $206.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Leerink Partners increased their target price on Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Tuesday, March 24th. HC Wainwright restated a “buy” rating on shares of Insmed in a report on Friday, May 8th. Raymond James Financial initiated coverage on Insmed in a report on Friday, April 10th. They set an “outperform” rating and a $200.00 target price on the stock. Finally, Morgan Stanley upgraded Insmed from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $166.00 to $212.00 in a report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $210.95.

Insider Activity at Insmed

In related news, COO Roger Adsett sold 88,060 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total value of $14,497,317.80. Following the transaction, the chief operating officer owned 106,810 shares in the company, valued at $17,584,130.30. This trade represents a 45.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Lewis sold 10,699 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $143.52, for a total value of $1,535,520.48. Following the completion of the transaction, the chief executive officer owned 301,185 shares in the company, valued at approximately $43,226,071.20. This represents a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 156,643 shares of company stock worth $24,513,766 over the last 90 days. Insiders own 2.10% of the company’s stock.

Insmed Price Performance

Insmed stock opened at $106.40 on Thursday. The business’s 50-day simple moving average is $135.85 and its 200 day simple moving average is $159.04. The stock has a market cap of $23.06 billion, a price-to-earnings ratio of -18.50 and a beta of 0.89. Insmed, Inc. has a 12-month low of $65.56 and a 12-month high of $212.75. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.14. The business had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The firm’s quarterly revenue was up 229.7% compared to the same quarter last year. During the same quarter last year, the business earned ($1.42) earnings per share. As a group, research analysts anticipate that Insmed, Inc. will post -2.52 earnings per share for the current year.

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.