Insmed Incorporated (NASDAQ:INSM) Short Interest Update

Insmed Incorporated (NASDAQ:INSM) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 12,230,000 shares, a drop of 9.4% from the August 15th total of 13,500,000 shares. Based on an average trading volume of 2,500,000 shares, the days-to-cover ratio is presently 4.9 days.

Analyst Upgrades and Downgrades

Several analysts have weighed in on INSM shares. Mizuho lifted their price objective on Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Morgan Stanley upped their price target on Insmed from $60.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. increased their price objective on Insmed from $55.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Barclays boosted their target price on shares of Insmed from $40.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. Finally, The Goldman Sachs Group lifted their price target on shares of Insmed from $74.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $79.19.

Insiders Place Their Bets

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the sale, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the sale, the insider now owns 106,134 shares in the company, valued at $7,951,559.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the sale, the insider now directly owns 100,100 shares of the company’s stock, valued at $7,157,150. The disclosure for this sale can be found here. Insiders have sold 78,882 shares of company stock valued at $5,765,446 in the last ninety days. Company insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

A number of hedge funds have recently bought and sold shares of INSM. Nisa Investment Advisors LLC raised its stake in Insmed by 8.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 135 shares during the last quarter. CWM LLC lifted its holdings in Insmed by 11.0% in the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 155 shares during the period. First Horizon Advisors Inc. boosted its position in Insmed by 83.4% in the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 287 shares during the last quarter. Beacon Financial Advisory LLC grew its stake in shares of Insmed by 4.6% during the 2nd quarter. Beacon Financial Advisory LLC now owns 13,825 shares of the biopharmaceutical company’s stock valued at $926,000 after purchasing an additional 605 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Insmed by 1.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 38,232 shares of the biopharmaceutical company’s stock valued at $1,037,000 after purchasing an additional 610 shares during the last quarter.

Insmed Stock Up 0.0 %

Shares of NASDAQ:INSM traded up $0.03 during trading on Tuesday, reaching $73.26. 1,368,181 shares of the stock traded hands, compared to its average volume of 2,430,063. The stock has a market cap of $10.89 billion, a P/E ratio of -14.01 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. The stock has a 50-day moving average of $74.78 and a two-hundred day moving average of $51.24. Insmed has a 52-week low of $21.92 and a 52-week high of $80.53.

Insmed (NASDAQ:INSM) last posted its 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 during the quarter, compared to analyst estimates of $87.95 million. The company’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the firm posted ($1.78) earnings per share. As a group, sell-side analysts expect that Insmed will post -5.42 earnings per share for the current fiscal year.

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.