Insmed (NASDAQ:INSM) Shares Gap Down Following Weak Earnings

Insmed Incorporated (NASDAQ:INSM)’s stock price gapped down prior to trading on Thursday following a weaker than expected earnings announcement. 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) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15).

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on INSM shares. Morgan Stanley upped their price target on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Insmed in a research report on Friday, November 1st. Truist Financial reissued a “buy” rating and issued a $105.00 price target (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research report on Wednesday. Finally, Stifel Nicolaus lifted their price objective on Insmed from $88.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Insmed has a consensus rating of “Moderate Buy” and a consensus target price of $90.86.

Insider Activity

In other Insmed news, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total transaction of $1,309,500.00. Following the sale, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at approximately $26,885,606.40. The trade was a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $80.00, for a total value of $7,291,200.00. Following the completion of the transaction, the insider now directly owns 97,083 shares of the company’s stock, valued at approximately $7,766,640. The trade was a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 495,135 shares of company stock worth $38,409,713. Company insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Insmed by 6.3% during the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock valued at $1,257,838,000 after acquiring an additional 1,075,796 shares during the period. Darwin Global Management Ltd. boosted its position in Insmed by 23.5% in the fourth quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock valued at $894,796,000 after buying an additional 2,463,261 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Insmed by 1.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,704,410 shares of the biopharmaceutical company’s stock valued at $877,113,000 after buying an additional 123,429 shares in the last quarter. Capital International Investors increased its holdings in shares of Insmed by 9.1% during the fourth quarter. Capital International Investors now owns 7,116,997 shares of the biopharmaceutical company’s stock worth $491,357,000 after buying an additional 593,206 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Insmed by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 4,087,143 shares of the biopharmaceutical company’s stock valued at $282,243,000 after acquiring an additional 273,759 shares during the last quarter.

Insmed Stock Down 0.8 %

The firm has a market capitalization of $14.88 billion, a price-to-earnings ratio of -15.06 and a beta of 1.11. The firm has a fifty day moving average price of $73.87 and a 200 day moving average price of $73.45. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03.

Insmed Company Profile

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.