Michael Alexander Smith Sells 6,149 Shares of Insmed (NASDAQ:INSM) Stock

Insmed, Inc. (NASDAQ:INSM) insider Michael Alexander Smith sold 6,149 shares of Insmed stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $108.47, for a total value of $666,982.03. Following the completion of the transaction, the insider owned 41,613 shares of the company’s stock, valued at $4,513,762.11. The trade was a 12.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Alexander Smith also recently made the following trade(s):

• On Monday, March 30th, Michael Alexander Smith sold 19,638 shares of Insmed stock. The shares were sold at an average price of $150.98, for a total value of $2,964,945.24.

Insmed Stock Performance

Shares of INSM opened at $106.24 on Friday. The stock has a 50-day simple moving average of $137.89 and a 200-day simple moving average of $160.87. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. The stock has a market capitalization of $23.03 billion, a PE ratio of -18.48 and a beta of 0.89. Insmed, Inc. has a 1 year low of $65.56 and a 1 year high of $212.75.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same period last year, the business earned ($1.42) EPS. The company’s revenue was up 229.7% on a year-over-year basis. On average, analysts predict that Insmed, Inc. will post -2.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on INSM shares. Stifel Nicolaus raised their price objective on shares of Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Roth Mkm restated a “buy” rating and issued a $212.00 price objective on shares of Insmed in a report on Friday, April 17th. Royal Bank Of Canada reduced their price objective on shares of Insmed from $220.00 to $205.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Bank of America raised their price objective on shares of Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Finally, Wells Fargo & Company reduced their price objective on shares of Insmed from $177.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Insmed currently has an average rating of “Moderate Buy” and a consensus target price of $210.95.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of INSM. Norges Bank purchased a new position in shares of Insmed in the 4th quarter valued at $506,625,000. Vanguard Group Inc. grew its position in shares of Insmed by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,935,820 shares of the biopharmaceutical company’s stock valued at $2,870,957,000 after buying an additional 2,291,328 shares during the last quarter. RTW Investments LP grew its position in shares of Insmed by 57.0% in the 4th quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company’s stock valued at $842,855,000 after buying an additional 1,758,321 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of Insmed by 49.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock valued at $711,076,000 after buying an additional 1,623,342 shares during the last quarter. Finally, Orbis Allan Gray Ltd purchased a new position in shares of Insmed in the 2nd quarter valued at $153,389,000.

About Insmed

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.