Key Points
- Insider sale: Insmed insider Michael Alexander Smith sold 6,149 shares on May 22 at an average price of $108.47, for proceeds of about $666,982. The transaction was made under a pre-arranged Rule 10b5-1 plan and reduced his ownership by 12.87%.
- Recent financial results: Insmed reported quarterly EPS of ($0.76), beating expectations, on revenue of $305.96 million, which was up 229.7% year over year and slightly above analyst estimates. Despite the beat, the company remains unprofitable with negative margins and return on equity.
- Analyst sentiment remains positive: The stock carries an average Moderate Buy rating with a consensus price target of $210.95, though Weiss Ratings reiterated a sell rating. Several firms, including Jefferies, Stifel, Truist, and Leerink, have maintained or raised buy-equivalent targets.
Insmed, Inc. (NASDAQ:INSM - Get Free Report) insider Michael Alexander Smith sold 6,149 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $108.47, for a total value of $666,982.03. Following the completion of the sale, the insider directly owned 41,613 shares of the company's stock, valued at approximately $4,513,762.11. The trade was a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Michael Alexander Smith also recently made the following trade(s):
- On Monday, March 30th, Michael Alexander Smith sold 19,638 shares of Insmed stock. The shares were sold at an average price of $150.98, for a total value of $2,964,945.24.
Insmed Stock Performance
INSM opened at $106.24 on Friday. Insmed, Inc. has a 12-month low of $65.56 and a 12-month high of $212.75. The stock has a market cap of $23.03 billion, a price-to-earnings ratio of -18.48 and a beta of 0.89. The business has a 50 day moving average of $137.89 and a 200-day moving average of $160.87. 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 - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (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 company had revenue of $305.96 million during the quarter, compared to analysts' expectations of $300.81 million. During the same period last year, the firm posted ($1.42) earnings per share. The business's revenue was up 229.7% on a year-over-year basis. On average, equities research analysts expect that Insmed, Inc. will post -2.52 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on INSM shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Insmed in a research note on Tuesday, April 21st. Jefferies Financial Group started coverage on Insmed in a research note on Monday, March 16th. They set a "buy" rating and a $228.00 target price on the stock. Stifel Nicolaus increased their target price on Insmed from $205.00 to $208.00 and gave the stock a "buy" rating in a research note on Tuesday, March 24th. Truist Financial lowered their target price on Insmed from $205.00 to $185.00 and set a "buy" rating on the stock in a research note on Wednesday, May 13th. Finally, Leerink Partners increased their target price on Insmed from $210.00 to $215.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 24th. One investment 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 MarketBeat.com, Insmed has an average rating of "Moderate Buy" and an average target price of $210.95.
Check Out Our Latest Research Report on INSM
Hedge Funds Weigh In On Insmed
Several hedge funds and other institutional investors have recently modified their holdings of INSM. EverSource Wealth Advisors LLC increased its stake in shares of Insmed by 65.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company's stock valued at $67,000 after purchasing an additional 263 shares during the last quarter. First Trust Advisors LP lifted its holdings in Insmed by 80.8% during the 2nd quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company's stock worth $4,770,000 after buying an additional 21,176 shares during the period. Baird Financial Group Inc. acquired a new position in Insmed during the 2nd quarter worth about $2,589,000. Amundi lifted its holdings in Insmed by 21,194.4% during the 2nd quarter. Amundi now owns 11,499 shares of the biopharmaceutical company's stock worth $1,130,000 after buying an additional 11,445 shares during the period. Finally, Natixis acquired a new position in Insmed during the 2nd quarter worth about $1,072,000.
About Insmed
(
Get Free Report)
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.
Further Reading
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