William Lewis, the CEO of Insmed, Inc. (NASDAQ: INSM), sold 10,699 shares of the company’s stock on December 18, 2023. The shares were traded at an average price of $166.97, resulting in a total transaction value of $1,786,412.03. Following this sale, Lewis retains ownership of 303,911 shares, which are currently valued at approximately $50,744,019.67, reflecting a 3.40% decrease in his position.
The transaction was disclosed in a legal filing with the Securities and Exchange Commission. This filing can be accessed for further details.
Stock Performance and Market Metrics
On the day following the sale, shares of Insmed rose by $8.29, reaching a trading price of $174.84. The stock experienced a significant trading volume of 19,055,575 shares, which greatly exceeded its average volume of 2,791,147 shares. Insmed’s financial metrics indicate a debt-to-equity ratio of 0.59, a quick ratio of 4.34, and a current ratio of 4.63. Over the past year, the stock has fluctuated between a low of $60.40 and a high of $212.75. Insmed currently holds a market capitalization of $37.29 billion, with a price-to-earnings ratio of -28.25 and a beta of 1.01.
The company’s moving averages stand at $187.41 for the fifty-day and $142.30 for the two-hundred-day periods.
Recent Earnings and Analyst Ratings
Insmed recently reported its quarterly earnings on October 30, 2023. The biopharmaceutical firm posted an earnings per share (EPS) of ($1.75), falling short of analysts’ expectations of ($1.35) by ($0.40). The company recorded a negative net margin of 264.83% and a negative return on equity of 183.55%. Despite the earnings miss, Insmed’s revenue for the quarter was $142.34 million, surpassing expectations of $114.33 million. This represents a year-over-year revenue increase of 52.4%. Analysts predict that Insmed will report an EPS of ($4.56) for the current fiscal year.
Research analysts have recently provided various ratings for Insmed shares. TD Cowen lowered its target price from $269.00 to $241.00, maintaining a “buy” rating. Meanwhile, The Goldman Sachs Group raised its price objective to $258.00 and also rated the stock as a “buy.” Wells Fargo & Company set a target price of $195.00, while Rothschild & Co Redburn initiated coverage with a “buy” rating and a $263.00 price target. Mizuho set a price objective of $212.00. Currently, one analyst has rated the stock as a Strong Buy, twenty-one have given it a Buy rating, one has rated it Hold, and one has issued a Sell rating. According to data from MarketBeat, Insmed holds an average rating of “Moderate Buy” with an average target price of $205.41.
Insmed, Inc., headquartered in Bridgewater, New Jersey, is dedicated to developing and commercializing therapies for patients with rare and serious diseases, particularly focusing on challenging pulmonary infections. The company’s flagship product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled formulation of the antibiotic amikacin that has received approval from the U.S. Food and Drug Administration.
As the landscape for biopharmaceutical companies evolves, Insmed continues to navigate both challenges and opportunities, with a focus on improving clinical outcomes for patients facing limited treatment options.
