Insmed Incorporated (NASDAQ:INSM – Get Rating) traded up 15.1% during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $25.04 and last traded at $25.04. 8,920 shares were traded during mid-day trading, a decline of 99% from the average session volume of 1,028,419 shares. The stock had previously closed at $21.76.
The biopharmaceutical company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.09. Insmed had a negative return on equity of 120.54% and a negative net margin of 188.04%. The business had revenue of $65.20 million during the quarter, compared to analysts’ expectations of $58.92 million. During the same period in the previous year, the business earned ($0.94) earnings per share. The firm’s revenue was up 43.6% on a year-over-year basis.
Analysts Set New Price Targets
Several equities analysts recently commented on the company. Morgan Stanley reduced their target price on Insmed from $46.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, July 15th. The Goldman Sachs Group dropped their price target on Insmed from $56.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, May 24th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Insmed has an average rating of “Moderate Buy” and an average target price of $49.67.
Insiders Place Their Bets
Institutional Investors Weigh In On Insmed
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Insmed by 273.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,065 shares of the biopharmaceutical company’s stock valued at $948,000 after purchasing an additional 35,205 shares during the period. Envestnet Asset Management Inc. increased its holdings in Insmed by 14.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 37,625 shares of the biopharmaceutical company’s stock valued at $742,000 after purchasing an additional 4,849 shares during the period. Nisa Investment Advisors LLC increased its holdings in Insmed by 38.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,015 shares of the biopharmaceutical company’s stock valued at $79,000 after purchasing an additional 1,110 shares during the period. Janney Montgomery Scott LLC increased its holdings in Insmed by 17.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 13,855 shares of the biopharmaceutical company’s stock valued at $276,000 after purchasing an additional 2,045 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Insmed by 487.9% during the 2nd quarter. SG Americas Securities LLC now owns 60,898 shares of the biopharmaceutical company’s stock valued at $1,201,000 after purchasing an additional 50,539 shares during the period.
Insmed Trading Up 10.7 %
The company has a current ratio of 6.04, a quick ratio of 5.52 and a debt-to-equity ratio of 6.73. The business has a fifty day moving average of $21.03 and a 200-day moving average of $21.98.
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.
- Get a free copy of the StockNews.com research report on Insmed (INSM)
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