Insmed Incorporated (NASDAQ:INSM) Insider Michael Alexander Smith Sells 27,871 Shares

Insmed Incorporated (NASDAQ:INSM) insider Michael Alexander Smith sold 27,871 shares of Insmed stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the transaction, the insider now owns 67,856 shares in the company, valued at approximately $5,045,093.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Insmed Stock Down 1.9 %

Shares of Insmed stock opened at $73.23 on Tuesday. The firm has a market cap of $10.88 billion, a price-to-earnings ratio of -14.00 and a beta of 1.11. The stock has a 50-day simple moving average of $74.72 and a 200-day simple moving average of $50.92. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53. The company has a debt-to-equity ratio of 25.05, a current ratio of 2.71 and a quick ratio of 2.53.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The business had revenue of $90.34 million for the quarter, compared to analysts’ expectations of $87.95 million. During the same period in the previous year, the business earned ($1.78) EPS. The firm’s revenue was up 17.0% on a year-over-year basis. On average, equities research analysts expect that Insmed Incorporated will post -5.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INSM has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on Insmed from $55.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Truist Financial cut their price objective on Insmed from $88.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Mizuho upped their price objective on shares of Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, June 7th. TD Cowen lifted their target price on shares of Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Insmed from $55.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $79.19.

Hedge Funds Weigh In On Insmed

Hedge funds have recently bought and sold shares of the business. EntryPoint Capital LLC bought a new stake in shares of Insmed during the 1st quarter worth about $33,000. Fidelis Capital Partners LLC acquired a new position in Insmed during the first quarter valued at approximately $34,000. First Horizon Advisors Inc. grew its holdings in Insmed by 83.4% during the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 287 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Insmed in the first quarter valued at approximately $59,000. Finally, CWM LLC lifted its stake in shares of Insmed by 11.0% in the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 155 shares during the last quarter.

About Insmed

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.