Insmed Incorporated (NASDAQ:INSM) Insider Sells $2,686,612.50 in Stock

Insmed Incorporated (NASDAQ:INSM) insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total value of $2,686,612.50. Following the transaction, the insider now owns 100,100 shares in the company, valued at $7,157,150. The sale was disclosed in a document filed with the SEC, which is available at this link.

Insmed Stock Up 1.7 %

Insmed stock opened at $72.76 on Thursday. The firm has a market capitalization of $10.81 billion, a price-to-earnings ratio of -14.00 and a beta of 1.11. The firm has a 50 day simple moving average of $74.11 and a 200 day simple moving average of $49.65. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $80.53. The company has a current ratio of 2.71, a quick ratio of 2.53 and a debt-to-equity ratio of 25.05.

Insmed (NASDAQ:INSM) last released its quarterly earnings data 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 company had revenue of $90.34 million during the quarter, compared to the consensus estimate of $87.95 million. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.78) EPS. On average, analysts predict that Insmed Incorporated will post -5.42 earnings per share for the current year.

Institutional Investors Weigh In On Insmed

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Insmed by 2.7% during the first quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock valued at $393,636,000 after acquiring an additional 383,714 shares in the last quarter. Darwin Global Management Ltd. bought a new position in Insmed in the 2nd quarter valued at $237,076,000. Principal Financial Group Inc. grew its position in shares of Insmed by 15.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,657,760 shares of the biopharmaceutical company’s stock valued at $111,069,000 after purchasing an additional 218,480 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Insmed by 76.8% in the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock worth $110,212,000 after purchasing an additional 714,539 shares during the period. Finally, Capital International Investors bought a new position in shares of Insmed in the first quarter worth $43,973,000.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Insmed from $55.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Insmed in a report on Thursday, August 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a report on Monday. Barclays raised their target price on Insmed from $40.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Finally, Wells Fargo & Company boosted their price target on shares of Insmed from $55.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.19.

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.