Michael Alexander Smith Sells 27,871 Shares of Insmed Incorporated (NASDAQ:INSM) Stock

Insmed Incorporated (NASDAQ:INSM) insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the transaction, the insider now directly owns 67,856 shares of the company’s stock, valued at $5,045,093.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Insmed Stock Performance

Shares of NASDAQ:INSM traded down $1.43 during trading on Monday, reaching $73.23. 1,402,956 shares of the stock were exchanged, compared to its average volume of 2,436,028. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53. The stock has a 50-day moving average price of $74.65 and a 200-day moving average price of $50.60. The company has a current ratio of 2.71, a quick ratio of 2.53 and a debt-to-equity ratio of 25.05. The firm has a market cap of $10.88 billion, a PE ratio of -14.28 and a beta of 1.11.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The company had revenue of $90.34 million during the quarter, compared to analyst estimates of $87.95 million. Insmed’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.78) EPS. Research analysts expect that Insmed Incorporated will post -5.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Insmed

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Insmed by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock worth $393,636,000 after acquiring an additional 383,714 shares during the period. Darwin Global Management Ltd. acquired a new stake in shares of Insmed during the 2nd quarter worth $237,076,000. Principal Financial Group Inc. increased its position in shares of Insmed by 15.2% in the second quarter. Principal Financial Group Inc. now owns 1,657,760 shares of the biopharmaceutical company’s stock worth $111,069,000 after purchasing an additional 218,480 shares during the period. Clearbridge Investments LLC raised its stake in Insmed by 76.8% in the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after purchasing an additional 714,539 shares in the last quarter. Finally, Capital International Investors bought a new stake in Insmed during the first quarter worth about $43,973,000.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Guggenheim raised their target price 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. Wells Fargo & Company raised their price objective on Insmed from $55.00 to $77.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. The Goldman Sachs Group lifted 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. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Insmed in a research report on Thursday, August 29th. Finally, Stifel Nicolaus increased their price objective on Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.