Insmed (NASDAQ:INSM) Trading Down 8.6% – Should You Sell?

Insmed, Inc. (NASDAQ:INSM)’s stock price dropped 8.6% during mid-day trading on Wednesday . The company traded as low as $91.72 and last traded at $90.4850. Approximately 3,203,464 shares were traded during trading, an increase of 13% from the average daily volume of 2,839,563 shares. The stock had previously closed at $99.04.

Wall Street Analysts Forecast Growth

INSM has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective on Insmed from $180.00 to $179.00 and set an “overweight” rating on the stock in a research note on Monday. HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a research note on Friday, May 8th. Roth Mkm reaffirmed a “buy” rating on shares of Insmed in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Insmed in a research note on Tuesday, April 21st. Finally, Royal Bank Of Canada reduced their price objective on Insmed from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $212.50.

Insmed Stock Up 1.3%

The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The company has a market capitalization of $21.25 billion, a P/E ratio of -17.05 and a beta of 0.79. The company has a 50 day moving average of $125.89 and a 200-day moving average of $151.68.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.14. The company had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.Insmed’s quarterly revenue was up 229.7% on a year-over-year basis. During the same period last year, the firm earned ($1.42) earnings per share. As a group, equities analysts anticipate that Insmed, Inc. will post -2.54 EPS for the current year.

Insiders Place Their Bets

In related news, CEO William Lewis sold 7,605 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $777,763.35. Following the sale, the chief executive officer directly owned 265,432 shares of the company’s stock, valued at $27,145,730.64. This trade represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Alexander Smith sold 2,159 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 39,454 shares in the company, valued at $4,034,960.58. The trade was a 5.19% decrease in their ownership of the stock. 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. Insiders sold 160,482 shares of company stock valued at $24,438,193 over the last three months. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Insmed

Several large investors have recently modified their holdings of INSM. EverSource Wealth Advisors LLC lifted its holdings in Insmed by 65.6% in the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 263 shares during the period. First Trust Advisors LP lifted its holdings in Insmed by 80.8% in the second quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock worth $4,770,000 after buying an additional 21,176 shares during the period. Baird Financial Group Inc. purchased a new stake in Insmed in the second quarter worth about $2,589,000. Amundi lifted its holdings in Insmed by 21,194.4% in the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock worth $1,130,000 after buying an additional 11,445 shares during the period. Finally, Natixis purchased a new stake in Insmed in the second quarter worth 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.