Insmed (NASDAQ:INSM) Posts Earnings Results, Beats Expectations By $0.09 EPS

Insmed (NASDAQ:INSMGet Rating) released its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.80) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.09, Briefing.com reports. The business had revenue of $65.20 million during the quarter, compared to the consensus estimate of $58.92 million. Insmed had a negative return on equity of 108.20% and a negative net margin of 217.35%. The business’s revenue for the quarter was up 43.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.94) EPS. Insmed updated its FY 2022 guidance to EPS.

Insmed Stock Up 10.7 %

NASDAQ:INSM traded up $2.69 on Friday, reaching $27.75. The stock had a trading volume of 2,235,902 shares, compared to its average volume of 1,048,113. 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 company has a 50-day moving average of $21.03 and a 200 day moving average of $21.98. The stock has a market cap of $3.32 billion, a P/E ratio of -7.34 and a beta of 1.91. Insmed has a 12-month low of $16.41 and a 12-month high of $34.44.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on INSM. The Goldman Sachs Group decreased their price target on shares of Insmed from $56.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, May 24th. Morgan Stanley decreased their price target on shares of Insmed from $46.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, July 15th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Insmed currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.67.

Insider Buying and Selling at Insmed

In other news, Director Melvin Md Sharoky acquired 20,000 shares of the firm’s stock in a transaction on 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 transaction, the director now directly 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 available at this hyperlink. In other news, CEO William Lewis sold 96,614 shares of the company’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $23.00, for a total value of $2,222,122.00. Following the sale, the chief executive officer now owns 256,716 shares in the company, valued at approximately $5,904,468. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Melvin Md Sharoky bought 20,000 shares of the business’s stock in a transaction dated Wednesday, May 11th. The stock was bought at an average price of $17.20 per share, for a total transaction 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. 4.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Insmed

A number of institutional investors have recently modified their holdings of the stock. Silverarc Capital Management LLC raised its stake in shares of Insmed by 1.4% in the 1st quarter. Silverarc Capital Management LLC now owns 102,067 shares of the biopharmaceutical company’s stock valued at $2,399,000 after purchasing an additional 1,446 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in shares of Insmed by 15.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 11,405 shares of the biopharmaceutical company’s stock valued at $268,000 after purchasing an additional 1,500 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Insmed by 1.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 194,937 shares of the biopharmaceutical company’s stock valued at $4,581,000 after purchasing an additional 3,485 shares in the last quarter. Point72 Hong Kong Ltd raised its stake in shares of Insmed by 270.1% in the 1st quarter. Point72 Hong Kong Ltd now owns 6,177 shares of the biopharmaceutical company’s stock valued at $145,000 after purchasing an additional 4,508 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of Insmed by 11.1% in the 1st quarter. Neuberger Berman Group LLC now owns 51,300 shares of the biopharmaceutical company’s stock valued at $1,206,000 after purchasing an additional 5,113 shares in the last quarter.

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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Earnings History for Insmed (NASDAQ:INSM)

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