Insmed (NASDAQ:INSM) Trading 15.1% Higher Following Earnings Beat

Insmed Incorporated (NASDAQ:INSMGet 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

In related news, Director Melvin Md Sharoky bought 20,000 shares of the stock in a transaction dated Wednesday, May 11th. The stock was bought at an average price of $17.20 per share, with a total value of $344,000.00. Following the purchase, the director now owns 262,621 shares in the company, valued at approximately $4,517,081.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO William Lewis sold 96,614 shares of the business’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $23.00, for a total value of $2,222,122.00. Following the completion of the sale, the chief executive officer now owns 256,716 shares of the company’s stock, valued at approximately $5,904,468. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Melvin Md Sharoky bought 20,000 shares of the stock in a transaction dated Wednesday, May 11th. The stock was bought at an average cost of $17.20 per share, with a total value of $344,000.00. Following the purchase, the director now owns 262,621 shares in the company, valued at approximately $4,517,081.20. The disclosure for this purchase can be found here. Corporate insiders own 4.63% of the company’s stock.

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.

About Insmed

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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.

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