Insmed (NASDAQ:INSM) Reaches New 12-Month Low – Here’s Why

Insmed, Inc. (NASDAQ:INSM) reached a new 52-week low during mid-day trading on Thursday . The stock 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.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research report on Tuesday, April 21st. Truist Financial lowered their price target on shares of Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Stifel Nicolaus boosted their price target on shares of Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Royal Bank Of Canada lowered their price target on shares of Insmed from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. Finally, Morgan Stanley raised shares of Insmed from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $166.00 to $212.00 in a research report on Monday, March 30th. One investment 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. Based on data from MarketBeat.com, Insmed presently has a consensus rating of “Moderate Buy” and an average price target of $212.50.

Insmed Trading Up 1.2%

The firm’s 50 day moving average is $124.55 and its 200 day moving average is $151.31. The company has a market cap of $21.21 billion, a PE ratio of -17.02 and a beta of 0.79. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. The company had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. Insmed’s revenue for the quarter was up 229.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.42) earnings per share. On average, equities analysts anticipate that Insmed, Inc. will post -2.54 earnings per share for the current year.

Insider Activity

In related news, CFO Sara Bonstein sold 2,404 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $245,857.08. Following the completion of the transaction, the chief financial officer owned 69,082 shares of the company’s stock, valued at approximately $7,065,016.14. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 business’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $143.97, for a total transaction of $1,540,335.03. Following the transaction, the chief executive officer directly owned 301,185 shares of the company’s stock, valued at approximately $43,361,604.45. This represents a 3.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 160,482 shares of company stock worth $24,438,193 in the last three months. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Insmed

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Insmed by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company’s stock worth $3,668,127,000 after buying an additional 1,140,524 shares in the last quarter. Darwin Global Management Ltd. grew its stake in Insmed by 2.3% in the 4th quarter. Darwin Global Management Ltd. now owns 20,933,277 shares of the biopharmaceutical company’s stock worth $3,644,274,000 after buying an additional 475,832 shares in the last quarter. Capital International Investors grew its stake in Insmed by 1.0% in the 3rd quarter. Capital International Investors now owns 7,553,853 shares of the biopharmaceutical company’s stock worth $1,087,830,000 after buying an additional 74,994 shares in the last quarter. State Street Corp grew its stake in Insmed by 30.6% in the 4th quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock worth $905,312,000 after buying an additional 1,217,390 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in Insmed by 49.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after buying an additional 1,623,342 shares in the last quarter.

Insmed Company Profile

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.