Insmed (NASDAQ:INSM) Shares Up 15.1% on Strong Earnings

Insmed Incorporated (NASDAQ:INSMGet Rating) shot up 15.1% on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $25.04 and last traded at $25.04. 8,920 shares were traded during 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 analysts’ consensus estimates 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 company had revenue of $65.20 million for the quarter, compared to analysts’ expectations of $58.92 million. During the same period last year, the firm earned ($0.94) EPS. Insmed’s revenue for the quarter was up 43.6% compared to the same quarter last year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Insmed news, Director Melvin Md Sharoky purchased 20,000 shares of the business’s stock in a transaction on Wednesday, May 11th. The stock was acquired 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 of the company’s stock, valued at approximately $4,517,081.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Insmed news, CEO William Lewis sold 96,614 shares of the stock in a transaction on 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 in the company, valued at approximately $5,904,468. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Melvin Md Sharoky purchased 20,000 shares of the business’s stock in a transaction on Wednesday, May 11th. The stock was acquired at an average price of $17.20 per share, with a total value of $344,000.00. Following the purchase, the director now directly 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 company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Ensign Peak Advisors Inc purchased a new position in shares of Insmed during the fourth quarter valued at about $767,000. Calton & Associates Inc. grew its position in shares of Insmed by 15.7% during the first quarter. Calton & Associates Inc. now owns 9,801 shares of the biopharmaceutical company’s stock valued at $230,000 after purchasing an additional 1,331 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Insmed by 254.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 409,216 shares of the biopharmaceutical company’s stock valued at $11,147,000 after purchasing an additional 293,890 shares in the last quarter. WCM Investment Management LLC grew its position in shares of Insmed by 3.9% during the first quarter. WCM Investment Management LLC now owns 251,642 shares of the biopharmaceutical company’s stock valued at $5,914,000 after purchasing an additional 9,467 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Insmed during the fourth quarter valued at about $242,000.

Insmed Stock Up 10.7 %

The stock has a 50-day moving average price of $21.03 and a two-hundred day moving average price of $21.98. The company has a current ratio of 6.04, a quick ratio of 5.52 and a debt-to-equity ratio of 6.73.

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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