Insmed (NASDAQ:INSM) Shares Gap Down on Disappointing Earnings

Insmed Incorporated (NASDAQ:INSM)’s stock price gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $83.83, but opened at $80.10. Insmed shares last traded at $83.53, with a volume of 334,440 shares changing hands.

The biopharmaceutical company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The firm had revenue of $104.44 million for the quarter, compared to analyst estimates of $102.31 million.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on INSM shares. JPMorgan Chase & Co. lifted their price objective on shares of Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday. Truist Financial lifted their price objective on shares of Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company lifted their price objective on shares of Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Insmed has an average rating of “Moderate Buy” and an average target price of $91.00.

Insider Buying and Selling at Insmed

In other Insmed news, CFO Sara Bonstein sold 1,066 shares of Insmed stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.72, for a total transaction of $67,925.52. Following the completion of the sale, the chief financial officer now directly owns 118,863 shares in the company, valued at approximately $7,573,950.36. The trade was a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William Lewis sold 2,978 shares of Insmed stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.36, for a total transaction of $188,686.08. Following the sale, the chief executive officer now owns 392,589 shares of the company’s stock, valued at approximately $24,874,439.04. The trade was a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 532,207 shares of company stock worth $41,400,465. Company insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

Several institutional investors and hedge funds have recently bought and sold shares of INSM. Mackenzie Financial Corp lifted its stake in shares of Insmed by 12.5% in the 4th quarter. Mackenzie Financial Corp now owns 10,883 shares of the biopharmaceutical company’s stock valued at $751,000 after purchasing an additional 1,213 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Insmed in the 4th quarter valued at $259,000. Fourth Dimension Wealth LLC acquired a new position in shares of Insmed in the 4th quarter valued at $278,000. Vise Technologies Inc. lifted its stake in shares of Insmed by 6.3% in the 4th quarter. Vise Technologies Inc. now owns 5,634 shares of the biopharmaceutical company’s stock valued at $389,000 after purchasing an additional 336 shares during the period. Finally, Castleark Management LLC lifted its stake in shares of Insmed by 21.9% in the 4th quarter. Castleark Management LLC now owns 52,780 shares of the biopharmaceutical company’s stock valued at $3,644,000 after purchasing an additional 9,480 shares during the period.

Insmed Stock Performance

The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The firm’s 50 day moving average is $74.29 and its 200-day moving average is $73.59. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of -14.61 and a beta of 1.11.

About Insmed

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.