Insmed Incorporated (NASDAQ:INSM - Get Free Report) CEO William Lewis sold 18,750 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the completion of the sale, the chief executive officer now directly owns 384,960 shares of the company's stock, valued at $26,912,553.60. This represents a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Insmed Trading Up 1.5 %
Shares of NASDAQ INSM opened at $70.44 on Friday. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $80.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The business's 50 day moving average is $72.36 and its two-hundred day moving average is $71.77. The stock has a market capitalization of $12.60 billion, a P/E ratio of -12.69 and a beta of 1.10.
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Insmed (NASDAQ:INSM - Get Free Report) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to analysts' expectations of $93.36 million. The business's revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.10) earnings per share. As a group, research analysts expect that Insmed Incorporated will post -5.44 EPS for the current year.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. HC Wainwright reissued a "buy" rating and issued a $90.00 price objective on shares of Insmed in a research note on Friday, November 1st. Truist Financial reissued a "buy" rating and set a $105.00 price target (up from $100.00) on shares of Insmed in a report on Friday, November 1st. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Insmed in a research note on Monday, September 9th. JPMorgan Chase & Co. lifted their target price on Insmed from $74.00 to $83.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Finally, Bank of America upped their price target on Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $83.67.
View Our Latest Analysis on Insmed
Institutional Trading of Insmed
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of Insmed by 12.9% during the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company's stock valued at $136,648,000 after buying an additional 214,130 shares during the last quarter. Tidal Investments LLC grew its position in Insmed by 447.0% in the 3rd quarter. Tidal Investments LLC now owns 24,102 shares of the biopharmaceutical company's stock valued at $1,759,000 after acquiring an additional 19,696 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Insmed in the 3rd quarter valued at $248,000. Coldstream Capital Management Inc. bought a new stake in shares of Insmed during the third quarter worth $255,000. Finally, Geode Capital Management LLC boosted its stake in shares of Insmed by 4.7% during the third quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company's stock valued at $278,432,000 after purchasing an additional 172,664 shares during the period.
About Insmed
(
Get Free Report)
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.
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