Insmed (NASDAQ:INSM) Director Sells 25,000 Shares of Stock

Key Points

• Insmed Director David Brennan sold 25,000 shares at an average price of $124, generating $3.1 million and reducing his ownership by 38.92% to 39,238 shares.
• Insmed shares rose 1.7% to $129.46, while the company reported quarterly revenue of $425.49 million, up 296.1% year over year, and an adjusted earnings loss of $0.06 per share that exceeded analyst expectations.
• Analyst sentiment remains largely positive, with a consensus “Buy” rating and an average price target of $205.52, although one firm maintains a sell rating.

Insmed, Inc. (NASDAQ:INSM - Get Free Report) Director David Brennan sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $124.00, for a total transaction of $3,100,000.00. Following the completion of the sale, the director owned 39,238 shares of the company's stock, valued at approximately $4,865,512. The trade was a 38.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Insmed Trading Up 1.7%

NASDAQ:INSM traded up $2.18 during trading hours on Friday, reaching $129.46. 1,698,200 shares of the company were exchanged, compared to its average volume of 2,960,716. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.72 and a quick ratio of 3.40. The firm has a market cap of $28.27 billion, a price-to-earnings ratio of -31.50 and a beta of 0.82. Insmed, Inc. has a 52-week low of $90.39 and a 52-week high of $212.75. The stock has a 50 day simple moving average of $117.40 and a 200 day simple moving average of $124.21.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.67) by $0.61. The company had revenue of $425.49 million for the quarter, compared to analyst estimates of $395.50 million. Insmed had a negative net margin of 76.94% and a negative return on equity of 123.94%. Insmed's revenue for the quarter was up 296.1% on a year-over-year basis. During the same quarter last year, the business earned ($1.70) EPS. As a group, analysts predict that Insmed, Inc. will post -1.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on INSM shares. Mizuho set a $192.00 price objective on Insmed in a report on Tuesday, June 16th. Evercore reiterated an "outperform" rating and set a $170.00 target price on shares of Insmed in a report on Friday, August 7th. UBS Group reiterated a "buy" rating and set a $172.00 target price on shares of Insmed in a report on Friday, August 7th. BMO Capital Markets started coverage on shares of Insmed in a research report on Monday, July 20th. They set an "outperform" rating and a $192.00 target price for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Insmed in a report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Insmed presently has a consensus rating of "Buy" and a consensus target price of $205.52.

Institutional Investors Weigh In On Insmed

A number of large investors have recently modified their holdings of INSM. CIBC Private Wealth Group LLC boosted its holdings in Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock worth $26,000 after acquiring an additional 53 shares during the period. Reflection Asset Management acquired a new position in shares of Insmed during the fourth quarter worth $30,000. Raiffeisen Bank International AG purchased a new position in shares of Insmed in the fourth quarter valued at $32,000. Larson Financial Group LLC boosted its stake in shares of Insmed by 137.0% in the fourth quarter. Larson Financial Group LLC now owns 256 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 148 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in Insmed during the 4th quarter valued at $49,000.

Insmed Company Profile

Insmed Incorporated NASDAQ: INSM is a global biopharmaceutical company focused on developing and commercializing therapies for serious and rare diseases. The company's work centers on areas of significant unmet medical need, including pulmonary and infectious diseases, as well as other specialty conditions.

Insmed's primary commercial product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled antibacterial therapy approved in the United States for adults with refractory Mycobacterium avium complex lung disease as part of a combination antibacterial regimen.

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