Insmed (NASDAQ:INSM) Shares Gap Down on Disappointing Earnings

Shares of Insmed Incorporated (NASDAQ:INSM) gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. 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 traded.

The biopharmaceutical company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15).

Analyst Ratings Changes

Several research firms have commented on INSM. JPMorgan Chase & Co. upped their target price on shares of Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Morgan Stanley boosted their price target on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Guggenheim raised their price target on Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a report on Friday, February 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a research note on Wednesday. Finally, Stifel Nicolaus increased their target price on shares of Insmed from $88.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $90.86.

Insider Transactions at Insmed

In related news, CFO Sara Bonstein sold 1,066 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.72, for a total value of $67,925.52. Following the completion of the transaction, the chief financial officer now owns 118,863 shares of the company’s stock, valued at approximately $7,573,950.36. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $80.00, for a total value of $7,291,200.00. Following the transaction, the insider now directly owns 97,083 shares in the company, valued at $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. Insiders sold a total of 495,135 shares of company stock valued at $38,409,713 in the last three months. 4.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC boosted its stake in shares of Insmed by 522.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 627 shares during the period. Creative Planning raised its holdings in shares of Insmed by 31.2% during the third quarter. Creative Planning now owns 44,914 shares of the biopharmaceutical company’s stock worth $3,279,000 after acquiring an additional 10,668 shares in the last quarter. Blue Trust Inc. boosted its position in Insmed by 2,348.8% during the third quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company’s stock valued at $131,000 after purchasing an additional 1,879 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Insmed by 18.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 390,134 shares of the biopharmaceutical company’s stock valued at $28,480,000 after purchasing an additional 62,061 shares in the last quarter. Finally, JCIC Asset Management Inc. acquired a new position in Insmed in the 3rd quarter worth about $133,000.

Insmed Price Performance

The company has a market capitalization of $14.88 billion, a PE ratio of -15.06 and a beta of 1.11. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The stock has a 50 day moving average price of $73.87 and a two-hundred day moving average price of $73.45.

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.