Insmed (NASDAQ:INSM) issued its earnings results on Thursday. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.85) by $0.04, Morningstar.com reports. The company had revenue of $30.00 million during the quarter, compared to analysts’ expectations of $26.30 million.
INSM traded down $1.83 on Friday, reaching $17.41. The company’s stock had a trading volume of 2,850,129 shares, compared to its average volume of 1,272,381. The firm has a market cap of $1.49 billion, a PE ratio of -4.18 and a beta of 2.78. Insmed has a 1 year low of $11.31 and a 1 year high of $33.13. The company has a debt-to-equity ratio of 2.48, a quick ratio of 4.69 and a current ratio of 4.82. The firm has a 50 day moving average of $23.76.
INSM has been the subject of several analyst reports. BidaskClub downgraded Insmed from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 17th. HC Wainwright reaffirmed a “buy” rating and issued a $52.00 target price (up previously from $43.00) on shares of Insmed in a research report on Tuesday, April 9th. ValuEngine downgraded Insmed from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 17th. Finally, Zacks Investment Research raised Insmed from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $36.63.
In related news, CEO William Lewis sold 400,000 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $26.00, for a total value of $10,400,000.00. Following the completion of the transaction, the chief executive officer now owns 480,672 shares of the company’s stock, valued at $12,497,472. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 12,000 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $23.24, for a total value of $278,880.00. Following the completion of the transaction, the insider now directly owns 36,350 shares of the company’s stock, valued at approximately $844,774. The disclosure for this sale can be found here. Corporate insiders own 4.95% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Strs Ohio purchased a new position in Insmed in the first quarter valued at about $75,000. NumerixS Investment Technologies Inc purchased a new position in Insmed in the first quarter valued at about $106,000. Amundi Pioneer Asset Management Inc. purchased a new position in Insmed in the fourth quarter valued at about $101,000. Shell Asset Management Co. purchased a new position in Insmed in the first quarter valued at about $273,000. Finally, Millennium Management LLC purchased a new position in Insmed in the fourth quarter valued at about $146,000.
Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.
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