Insmed Incorporated (NASDAQ:INSM – Get Free Report)’s stock price dropped 1.5% on Friday . The stock traded as low as $77.13 and last traded at $77.79. Approximately 350,427 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 2,479,169 shares. The stock had previously closed at $79.01.
Analysts Set New Price Targets
INSM has been the topic of a number of analyst reports. UBS Group lifted their target price on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Insmed in a research report on Monday, August 12th. Evercore ISI lifted their price target on shares of Insmed from $42.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Guggenheim lifted their price target on shares of Insmed from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Finally, Morgan Stanley lifted their price objective on shares of Insmed from $60.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and an average target price of $79.19.
Insmed Stock Performance
The firm has a market cap of $11.72 billion, a PE ratio of -15.07 and a beta of 1.16. The firm’s 50-day moving average price is $72.23 and its two-hundred day moving average price is $45.50.
Insmed (NASDAQ:INSM – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The company had revenue of $90.34 million for the quarter, compared to analysts’ expectations of $87.95 million. During the same period last year, the business posted ($1.78) EPS. Insmed’s revenue was up 17.0% compared to the same quarter last year. As a group, sell-side analysts predict that Insmed Incorporated will post -4.71 earnings per share for the current fiscal year.
Insider Activity at Insmed
In other Insmed news, CFO Sara Bonstein sold 220,564 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $50.00, for a total value of $11,028,200.00. Following the transaction, the chief financial officer now directly owns 117,481 shares of the company’s stock, valued at approximately $5,874,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Sara Bonstein sold 220,564 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $50.00, for a total transaction of $11,028,200.00. Following the transaction, the chief financial officer now directly owns 117,481 shares of the company’s stock, valued at approximately $5,874,050. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Drayton Wise sold 7,852 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $49.79, for a total transaction of $390,951.08. Following the transaction, the insider now directly owns 121,657 shares in the company, valued at $6,057,302.03. The disclosure for this sale can be found here. Insiders sold a total of 249,611 shares of company stock worth $12,584,876 in the last 90 days. 4.60% of the stock is owned by insiders.
Institutional Investors Weigh In On Insmed
A number of large investors have recently added to or reduced their stakes in INSM. Darwin Global Management Ltd. acquired a new stake in Insmed in the 2nd quarter valued at about $237,076,000. Capital International Investors purchased a new position in shares of Insmed during the 1st quarter worth about $43,973,000. Norges Bank purchased a new position in shares of Insmed during the 4th quarter worth about $45,029,000. Clearbridge Investments LLC purchased a new position in Insmed in the first quarter valued at approximately $25,242,000. Finally, Assenagon Asset Management S.A. raised its holdings in Insmed by 325.8% in the first quarter. Assenagon Asset Management S.A. now owns 1,211,560 shares of the biopharmaceutical company’s stock valued at $32,870,000 after buying an additional 927,040 shares during the period.
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.