Insmed (INSM) Shares Down 5.9%

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Insmed Incorporated (NASDAQ:INSM)’s share price fell 5.9% on Tuesday . The company traded as low as $25.43 and last traded at $26.41. 2,018,005 shares traded hands during trading, an increase of 123% from the average session volume of 903,841 shares. The stock had previously closed at $28.07.

A number of brokerages have weighed in on INSM. Zacks Investment Research downgraded Insmed from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. HC Wainwright reissued a “buy” rating and set a $52.00 price target (up previously from $43.00) on shares of Insmed in a research report on Tuesday, April 9th. BidaskClub raised Insmed from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Canaccord Genuity set a $44.00 price target on Insmed and gave the stock a “buy” rating in a research report on Friday, March 8th. Finally, ValuEngine raised Insmed from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 19th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $37.88.

The firm has a market capitalization of $2.02 billion, a PE ratio of -6.33 and a beta of 2.98. The company has a debt-to-equity ratio of 2.48, a current ratio of 4.82 and a quick ratio of 4.69.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.02). The firm had revenue of $21.90 million during the quarter, compared to the consensus estimate of $19.61 million. On average, equities analysts forecast that Insmed Incorporated will post -3.7 earnings per share for the current fiscal year.

In other news, Director Donald J. Hayden, Jr. sold 6,286 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $32.99, for a total transaction of $207,375.14. Following the completion of the sale, the director now owns 68,483 shares in the company, valued at $2,259,254.17. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Alfred Altomari sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $30.00, for a total value of $165,000.00. Following the sale, the director now owns 25,942 shares of the company’s stock, valued at approximately $778,260. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,686 shares of company stock valued at $790,767. Corporate insiders own 4.95% of the company’s stock.

Large investors have recently modified their holdings of the company. Raymond James & Associates boosted its holdings in shares of Insmed by 101.9% during the fourth quarter. Raymond James & Associates now owns 57,757 shares of the biopharmaceutical company’s stock worth $758,000 after acquiring an additional 29,150 shares during the period. Virtus ETF Advisers LLC boosted its stake in shares of Insmed by 23.0% in the fourth quarter. Virtus ETF Advisers LLC now owns 20,606 shares of the biopharmaceutical company’s stock valued at $270,000 after buying an additional 3,855 shares during the period. Foresite Capital Management IV LLC boosted its stake in shares of Insmed by 9.8% in the fourth quarter. Foresite Capital Management IV LLC now owns 1,977,236 shares of the biopharmaceutical company’s stock valued at $25,941,000 after buying an additional 176,649 shares during the period. SG Americas Securities LLC bought a new stake in shares of Insmed in the fourth quarter valued at approximately $221,000. Finally, Bellevue Group AG boosted its stake in shares of Insmed by 42.9% in the fourth quarter. Bellevue Group AG now owns 809,146 shares of the biopharmaceutical company’s stock valued at $10,616,000 after buying an additional 242,845 shares during the period.

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Insmed Company Profile (NASDAQ:INSM)

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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