Key Points
- Insmed CEO William Lewis sold 7,605 shares on June 3 at an average price of $102.27, totaling about $777,763. The sale reduced his direct ownership by 2.79% and was made to cover tax withholding tied to vesting equity awards.
- Insmed recently reported better-than-expected quarterly results, with EPS of -$0.76 versus the -$0.90 consensus and revenue of $305.96 million, up 229.7% year over year. Despite the improvement, the company remains unprofitable.
- Wall Street sentiment remains mostly positive, with a consensus rating of “Moderate Buy” and an average price target of $210.50. Several analysts maintained or raised bullish ratings, though one firm reiterated a sell rating.
Insmed, Inc. (NASDAQ:INSM - Get Free Report) insider Michael Alexander Smith sold 2,159 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $220,800.93. Following the sale, the insider directly owned 39,454 shares of the company's stock, valued at approximately $4,034,960.58. This trade represents a 5.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Michael Alexander Smith also recently made the following trade(s):
- On Friday, May 22nd, Michael Alexander Smith sold 6,149 shares of Insmed stock. The shares were sold at an average price of $108.47, for a total transaction of $666,982.03.
- 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 transaction of $2,964,945.24.
Insmed Trading Down 10.2%
Shares of INSM opened at $94.22 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. Insmed, Inc. has a 1 year low of $70.57 and a 1 year high of $212.75. The company has a 50 day simple moving average of $130.45 and a two-hundred day simple moving average of $154.95. The firm has a market cap of $20.42 billion, a P/E ratio of -16.39 and a beta of 0.79.
Insmed (NASDAQ:INSM - Get Free Report) last announced 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 net margin of 144.44% and a negative return on equity of 130.11%. The business had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. During the same period last year, the firm posted ($1.42) EPS. The company's revenue was up 229.7% on a year-over-year basis. On average, equities analysts expect that Insmed, Inc. will post -2.56 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Roth Mkm reaffirmed a "buy" rating and set a $212.00 price objective on shares of Insmed in a report on Friday, April 17th. Guggenheim cut their price objective on shares of Insmed from $230.00 to $226.00 and set a "buy" rating for the company in a report on Friday, May 8th. Royal Bank Of Canada lowered their target price on Insmed from $205.00 to $195.00 and set an "outperform" rating for the company in a research report on Friday. Bank of America increased their target price on Insmed from $211.00 to $213.00 and gave the company a "buy" rating in a research report on Tuesday, March 24th. Finally, Leerink Partners increased their target price on Insmed from $210.00 to $215.00 and gave the company an "outperform" rating in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Insmed has an average rating of "Moderate Buy" and an average target price of $210.50.
Get Our Latest Research Report on INSM
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC boosted its position in shares of Insmed by 13.1% during the 1st quarter. Parallel Advisors LLC now owns 2,291 shares of the biopharmaceutical company's stock valued at $375,000 after acquiring an additional 266 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Insmed by 133.0% during the 1st quarter. NewEdge Advisors LLC now owns 6,015 shares of the biopharmaceutical company's stock valued at $984,000 after acquiring an additional 3,433 shares during the last quarter. NWI Management LP boosted its position in shares of Insmed by 2.6% during the 1st quarter. NWI Management LP now owns 1,014,000 shares of the biopharmaceutical company's stock valued at $165,809,000 after acquiring an additional 25,540 shares during the last quarter. Glenmede Trust Co. NA lifted its position in Insmed by 5.4% in the first quarter. Glenmede Trust Co. NA now owns 1,916 shares of the biopharmaceutical company's stock worth $313,000 after buying an additional 98 shares during the last quarter. Finally, ADAR1 Capital Management LLC bought a new stake in Insmed in the first quarter worth $5,787,000.
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.
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