Key Points
- Insmed director David Brennan sold 25,000 shares at an average price of $124, generating $3.1 million and reducing his stake by 38.92% to 39,238 shares.
- Insmed reported better-than-expected quarterly results, with an adjusted loss of $0.06 per share versus estimates of $0.67 and revenue of $425.49 million, up 296.1% year over year.
- Analysts maintain a broadly positive view, with a consensus “Buy” rating and an average price target of $205.52, while INSM recently traded at $129.41.
Insmed, Inc. (NASDAQ:INSM - Get Free Report) Director David Brennan sold 25,000 shares of Insmed stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $124.00, for a total value of $3,100,000.00. Following the transaction, the director owned 39,238 shares in the company, valued at $4,865,512. This represents a 38.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Insmed Stock Up 1.7%
NASDAQ:INSM opened at $129.41 on Friday. The business's fifty day moving average price is $117.76 and its 200 day moving average price is $124.24. The firm has a market capitalization of $28.26 billion, a price-to-earnings ratio of -31.49 and a beta of 0.82. The company has a current ratio of 3.72, a quick ratio of 3.40 and a debt-to-equity ratio of 0.74. Insmed, Inc. has a 1-year low of $90.39 and a 1-year high of $212.75.
Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.67) by $0.61. Insmed had a negative return on equity of 123.94% and a negative net margin of 76.94%.The firm had revenue of $425.49 million during the quarter, compared to analyst estimates of $395.50 million. During the same period last year, the company posted ($1.70) EPS. The business's quarterly revenue was up 296.1% compared to the same quarter last year. On average, sell-side analysts forecast that Insmed, Inc. will post -1.83 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research firms have weighed in on INSM. HC Wainwright reiterated a "buy" rating on shares of Insmed in a research note on Monday, August 10th. Evercore restated an "outperform" rating and set a $170.00 price target on shares of Insmed in a report on Friday, August 7th. UBS Group reaffirmed a "buy" rating and issued a $172.00 price target on shares of Insmed in a research note on Friday, August 7th. Guggenheim cut their price objective on Insmed from $207.00 to $205.00 and set a "buy" rating for the company in a report on Friday, August 7th. Finally, Morgan Stanley reissued an "overweight" rating and set a $218.00 price objective on shares of Insmed in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $205.52.
Check Out Our Latest Research Report on Insmed
Institutional Trading of Insmed
A number of institutional investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd bought a new stake in Insmed in the second quarter worth approximately $400,000. C WorldWide Group Holding A S raised its holdings in shares of Insmed by 62.1% during the 2nd quarter. C WorldWide Group Holding A S now owns 261,110 shares of the biopharmaceutical company's stock valued at $27,840,000 after purchasing an additional 100,000 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Insmed by 22.3% during the 2nd quarter. NewEdge Advisors LLC now owns 7,354 shares of the biopharmaceutical company's stock valued at $784,000 after purchasing an additional 1,339 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of Insmed by 28.5% in the 2nd quarter. IFP Advisors Inc now owns 2,945 shares of the biopharmaceutical company's stock valued at $314,000 after purchasing an additional 654 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Insmed by 4.1% in the 2nd quarter. Arizona State Retirement System now owns 60,340 shares of the biopharmaceutical company's stock valued at $6,433,000 after purchasing an additional 2,389 shares during the last quarter.
Insmed Company Profile
(
Get Free Report)
Insmed Incorporated (NASDAQ: INSM) is a global biopharmaceutical company focused on developing and commercializing therapies for serious and rare diseases. The company's work centers on areas of significant unmet medical need, including pulmonary and infectious diseases, as well as other specialty conditions.
Insmed's primary commercial product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled antibacterial therapy approved in the United States for adults with refractory Mycobacterium avium complex lung disease as part of a combination antibacterial regimen.
Further Reading
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