Insider Selling: Insmed Incorporated (NASDAQ:INSM) Insider Sells 27,871 Shares of Stock

Insmed Incorporated (NASDAQ:INSM) insider Michael Alexander Smith sold 27,871 shares of the business’s 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 transaction, the insider now owns 67,856 shares of the company’s stock, valued at $5,045,093.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Insmed Trading Down 1.9 %

Shares of INSM stock traded down $1.43 during trading hours on Monday, hitting $73.23. 1,402,956 shares of the company were exchanged, compared to its average volume of 2,436,028. The company has a 50 day simple moving average of $74.65 and a two-hundred day simple moving average of $50.60. The firm has a market cap of $10.88 billion, a P/E ratio of -14.28 and a beta of 1.11. 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 Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results 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 analyst estimates of $87.95 million. During the same period last year, the firm earned ($1.78) EPS. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. Equities analysts anticipate that Insmed Incorporated will post -5.42 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Rafferty Asset Management LLC raised its holdings in Insmed by 17.4% during the fourth quarter. Rafferty Asset Management LLC now owns 321,087 shares of the biopharmaceutical company’s stock worth $9,950,000 after buying an additional 47,563 shares during the last quarter. Kingdon Capital Management L.L.C. bought a new position in Insmed in the 4th quarter valued at about $12,551,000. Artia Global Partners LP acquired a new position in Insmed during the 4th quarter valued at about $2,322,000. Norges Bank bought a new stake in Insmed during the 4th quarter worth approximately $45,029,000. Finally, Clearbridge Investments LLC purchased a new stake in shares of Insmed in the first quarter worth approximately $25,242,000.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on INSM. Mizuho lifted their price target on shares of Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a report on Friday, June 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a report on Monday, September 9th. HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Insmed in a report on Thursday, August 29th. Evercore ISI upped their target price on Insmed from $42.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Finally, The Goldman Sachs Group increased their target price on Insmed from $74.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.19.

Insmed Company Profile

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.