Insmed (NASDAQ:INSM) Reaches New 1-Year Low – What’s Next?

Shares of Insmed, Inc. (NASDAQ:INSM) reached a new 52-week low during trading on Thursday . The company traded as low as $90.39 and last traded at $91.88, with a volume of 5425235 shares trading hands. The stock had previously closed at $99.04.

Wall Street Analyst Weigh In

INSM has been the topic of a number of analyst reports. Stifel Nicolaus upped their target price on shares of Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Guggenheim reduced their price target on shares of Insmed from $230.00 to $226.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Raymond James Financial started coverage on shares of Insmed in a report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price target on the stock. Wells Fargo & Company dropped their price objective on Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Insmed in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $212.50.

Insmed Stock Down 7.2%

The stock’s fifty day moving average price is $127.23 and its 200 day moving average price is $152.40. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The stock has a market cap of $19.91 billion, a P/E ratio of -15.98 and a beta of 0.79.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. During the same period in the previous year, the business earned ($1.42) earnings per share. The firm’s quarterly revenue was up 229.7% compared to the same quarter last year. As a group, research analysts forecast that Insmed, Inc. will post -2.56 earnings per share for the current fiscal year.

Insider Transactions at Insmed

In other news, CFO Sara Bonstein sold 2,404 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $245,857.08. Following the transaction, the chief financial officer directly owned 69,082 shares in the company, valued at approximately $7,065,016.14. This represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 10,699 shares of the firm’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $143.97, for a total value of $1,540,335.03. Following the transaction, the chief executive officer directly owned 301,185 shares in the company, valued at approximately $43,361,604.45. This represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 160,482 shares of company stock valued at $24,438,193 over the last quarter. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Insmed

A number of hedge funds have recently made changes to their positions in the business. Artisan Partners Limited Partnership lifted its stake 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 acquiring an additional 1,623,342 shares during the last quarter. Atika Capital Management LLC bought a new position in Insmed during the 3rd quarter worth approximately $13,681,000. iA Global Asset Management Inc. increased its stake in Insmed by 15,973.5% in the 4th quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company’s stock worth $4,644,000 after purchasing an additional 26,516 shares during the period. Nordea Investment Management AB purchased a new position in Insmed in the 4th quarter worth approximately $3,492,000. Finally, Tobam bought a new stake in Insmed in the third quarter valued at approximately $2,750,000.

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.