Insmed (NASDAQ:INSM) Sets New 12-Month Low – Here’s Why

Insmed, Inc. (NASDAQ:INSM) hit a new 52-week low during trading on Thursday . The stock traded as low as $90.39 and last traded at $91.88, with a volume of 5425235 shares. The stock had previously closed at $99.04.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Insmed in a report on Monday, March 16th. They set a “buy” rating and a $228.00 price target for the company. Stifel Nicolaus boosted their price objective on shares of Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Truist Financial dropped their target price on shares of Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Wells Fargo & Company reduced their price target on Insmed from $177.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Bank of America upped their price target on Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $212.50.

Insmed Stock Down 7.2%

The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $19.91 billion, a P/E ratio of -15.98 and a beta of 0.79. The company’s fifty day simple moving average is $127.23 and its 200 day simple moving average is $152.40.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same quarter in the previous year, the firm posted ($1.42) EPS. The company’s revenue for the quarter was up 229.7% compared to the same quarter last year. Research analysts expect that Insmed, Inc. will post -2.56 EPS for the current year.

Insider Activity at Insmed

In other news, insider Michael Alexander Smith sold 2,159 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $220,800.93. Following the completion of the transaction, the insider owned 39,454 shares of the company’s stock, valued at approximately $4,034,960.58. This represents a 5.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Roger Adsett sold 2,370 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $242,379.90. Following the completion of the transaction, the chief operating officer owned 98,603 shares of the company’s stock, valued at approximately $10,084,128.81. The trade was a 2.35% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 160,482 shares of company stock valued at $24,438,193. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Insmed

Institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Insmed by 65.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 263 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Insmed by 80.8% in the 2nd quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock worth $4,770,000 after acquiring an additional 21,176 shares in the last quarter. Baird Financial Group Inc. bought a new position in shares of Insmed in the 2nd quarter worth about $2,589,000. Amundi lifted its position in Insmed by 21,194.4% during the 2nd quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock valued at $1,130,000 after acquiring an additional 11,445 shares during the period. Finally, Natixis purchased a new position in Insmed during the 2nd quarter valued at about $1,072,000.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.