Insmed (NASDAQ:INSM) Shares Gap Up – What’s Next?
by Tristan Rich · The Markets DailyShares of Insmed, Inc. (NASDAQ:INSM – Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $136.00, but opened at $147.12. Insmed shares last traded at $145.72, with a volume of 849,820 shares changing hands.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. Wolfe Research set a $167.00 price objective on Insmed and gave the stock an “outperform” rating in a research report on Thursday, December 18th. TD Cowen set a $241.00 price target on shares of Insmed in a research note on Thursday, December 18th. Rothschild & Co Redburn set a $263.00 price target on shares of Insmed in a report on Thursday, December 4th. Guggenheim dropped their price objective on shares of Insmed from $230.00 to $221.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. Finally, Wells Fargo & Company reduced their price objective on shares of Insmed from $208.00 to $175.00 and set an “overweight” rating on the stock in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Insmed has a consensus rating of “Buy” and a consensus target price of $204.00.
Get Our Latest Stock Analysis on INSM
Insmed Trading Up 6.9%
The company has a current ratio of 3.83, a quick ratio of 3.54 and a debt-to-equity ratio of 0.76. The firm has a market cap of $31.33 billion, a PE ratio of -22.72 and a beta of 1.13. The business has a fifty day moving average price of $151.95 and a 200 day moving average price of $166.26.
Insmed (NASDAQ:INSM – Get Free Report) last posted its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.47). Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The business had revenue of $263.84 million for the quarter, compared to analysts’ expectations of $263.97 million. During the same quarter in the previous year, the firm earned ($1.32) EPS. Insmed’s revenue for the quarter was up 152.6% compared to the same quarter last year. Analysts forecast that Insmed, Inc. will post -4.56 EPS for the current year.
Insider Activity at Insmed
In other news, COO Roger Adsett sold 791 shares of Insmed stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $156.17, for a total transaction of $123,530.47. Following the sale, the chief operating officer owned 106,810 shares in the company, valued at approximately $16,680,517.70. The trade was a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $143.52, for a total value of $1,535,520.48. Following the sale, the chief executive officer owned 301,185 shares in the company, valued at $43,226,071.20. This trade represents a 3.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 189,651 shares of company stock valued at $31,533,654 in the last ninety days. 3.00% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in INSM. CIBC Private Wealth Group LLC increased its holdings in shares of Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 53 shares in the last quarter. CoreCap Advisors LLC acquired a new position in Insmed during the fourth quarter worth about $27,000. Stone House Investment Management LLC acquired a new position in Insmed during the third quarter worth about $29,000. SBI Securities Co. Ltd. increased its holdings in Insmed by 404.9% in the third quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 166 shares in the last quarter. Finally, GraniteShares Advisors LLC acquired a new stake in shares of Insmed during the 4th quarter valued at approximately $30,000.
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.