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 that occurred on Friday, September 13th. The shares were 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 directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Insmed Stock Down 0.5 %

Shares of INSM stock opened at $72.87 on Thursday. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of -13.93 and a beta of 1.11. The firm’s 50-day moving average is $74.77 and its 200-day moving average is $51.39. The company has a debt-to-equity ratio of 25.05, a quick ratio of 2.53 and a current ratio of 2.71.

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

Analyst Upgrades and Downgrades

INSM has been the topic of several research reports. Truist Financial cut their price objective on shares of Insmed from $88.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. The Goldman Sachs Group upped their price objective on Insmed from $74.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Bank of America reissued a “buy” rating and issued a $83.00 target price on shares of Insmed in a research report on Friday, July 5th. Guggenheim upped their price target on Insmed from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $79.19.

Institutional Investors Weigh In On Insmed

A number of large investors have recently added to or reduced their stakes in INSM. Vanguard Group Inc. boosted its position in Insmed by 2.7% during the first quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock worth $393,636,000 after purchasing an additional 383,714 shares during the period. Darwin Global Management Ltd. bought a new stake in shares of Insmed during the 2nd quarter worth about $237,076,000. Principal Financial Group Inc. grew its stake in Insmed by 15.2% in 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 buying an additional 218,480 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Insmed by 76.8% in the 2nd quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after acquiring an additional 714,539 shares during the period. Finally, Capital International Investors acquired a new stake in Insmed during the first quarter worth approximately $43,973,000.

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.