Insmed (NASDAQ:INSM) Shares Gap Up – Here’s Why

Insmed, Inc. (NASDAQ:INSM)’s stock price gapped up prior to trading on Thursday. The stock had previously closed at $96.98, but opened at $110.00. Insmed shares last traded at $110.4480, with a volume of 2,255,404 shares.

Wall Street Analyst Weigh In

Several analysts have recently commented on INSM shares. BMO Capital Markets restated an “outperform” rating on shares of Insmed in a research note on Tuesday, October 6th. Wolfe Research downgraded Insmed from an “outperform” rating to a “peer perform” rating in a report on Monday, October 12th. Evercore reaffirmed an “outperform” rating and set a $170.00 target price on shares of Insmed in a research report on Friday, August 7th. Wells Fargo & Company increased their target price on Insmed from $161.00 to $169.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Mizuho set a $154.00 target price on Insmed in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $197.26.

Insmed Stock Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.40 and a current ratio of 3.72. The stock has a market cap of $24.66 billion, a P/E ratio of -27.70 and a beta of 0.83. The company’s 50 day moving average price is $113.29 and its 200-day moving average price is $126.28.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.07). Insmed had a negative net margin of 76.94% and a negative return on equity of 123.94%. The firm had revenue of $524.43 million for the quarter, compared to the consensus estimate of $499.06 million. During the same period in the previous year, the business earned ($1.75) earnings per share. The firm’s revenue for the quarter was up 268.4% on a year-over-year basis. Equities analysts forecast that Insmed, Inc. will post -1.60 EPS for the current fiscal year.

Insider Activity at Insmed

In other news, Director David Brennan sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $124.00, for a total value of $3,100,000.00. Following the completion of the transaction, the director directly owned 39,238 shares of the company’s stock, valued at $4,865,512. This represents a 38.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Roger Adsett sold 239,850 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $133.27, for a total value of $31,964,809.50. Following the sale, the chief operating officer directly owned 98,744 shares of the company’s stock, valued at $13,159,612.88. The trade was a 70.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Insmed

Several large investors have recently made changes to their positions in INSM. Private Advisor Group LLC boosted its holdings in shares of Insmed by 1.8% in the 1st quarter. Private Advisor Group LLC now owns 4,749 shares of the biopharmaceutical company’s stock worth $777,000 after buying an additional 82 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in Insmed by 5.4% during the first quarter. Glenmede Trust Co. NA now owns 1,916 shares of the biopharmaceutical company’s stock worth $313,000 after buying an additional 98 shares during the last quarter. Yousif Capital Management LLC increased its holdings in Insmed by 4.7% during the third quarter. Yousif Capital Management LLC now owns 2,993 shares of the biopharmaceutical company’s stock worth $342,000 after buying an additional 134 shares during the last quarter. SBI Securities Co. Ltd. raised its position in Insmed by 69.4% in the third quarter. SBI Securities Co. Ltd. now owns 349 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 143 shares during the period. Finally, American Trust raised its position in Insmed by 12.9% in the first quarter. American Trust now owns 1,710 shares of the biopharmaceutical company’s stock worth $280,000 after acquiring an additional 196 shares during the period.

About Insmed

Insmed Incorporated is a global biopharmaceutical company focused on developing and commercializing therapies for serious and rare diseases. The company concentrates on conditions with significant unmet medical needs, particularly in pulmonary and infectious diseases.

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