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

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

Insmed Stock Performance

Insmed stock opened at $73.26 on Wednesday. The stock’s 50 day moving average price is $74.78 and its 200 day moving average price is $51.24. The company has a debt-to-equity ratio of 25.05, a quick ratio of 2.53 and a current ratio of 2.71. The firm has a market capitalization of $10.89 billion, a PE ratio of -14.01 and a beta of 1.11. Insmed Incorporated has a one year low of $21.92 and a one year high of $80.53.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) 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. Insmed’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.78) earnings per share. As a group, sell-side analysts expect that Insmed Incorporated will post -5.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of INSM. First Horizon Advisors Inc. boosted its stake in Insmed by 83.4% during the 2nd 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 in the last quarter. EntryPoint Capital LLC acquired a new position in Insmed in the first quarter worth approximately $33,000. Fidelis Capital Partners LLC bought a new position in shares of Insmed during the 1st quarter valued at $34,000. CWM LLC raised its holdings in Insmed by 11.0% during the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 155 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Insmed by 8.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 135 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently commented on INSM. TD Cowen increased their price objective on Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a report on Friday, August 9th. Morgan Stanley lifted their target price on shares of Insmed from $60.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, July 12th. Mizuho raised their price objective on Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a report on Friday, June 7th. Wells Fargo & Company upped their price target on shares of Insmed from $55.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. Finally, UBS Group lifted their target price on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Insmed currently has an average 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.