William Lewis, the CEO of Insmed, Inc. (NASDAQ: INSM), sold 10,699 shares of the company’s stock on December 18, 2023. The transaction took place at an average price of $166.97, totaling an amount of $1,786,412.03. Following this sale, Lewis now holds 303,911 shares of Insmed, valued at approximately $50.74 million, reflecting a 3.40% decrease in his ownership stake.
The details of this sale were made public through a legal filing with the Securities & Exchange Commission. Insmed’s stock performance has shown a notable increase, trading up by $8.29 on the following day to reach $174.84. The trading volume for Insmed was recorded at 19,055,575 shares, significantly surpassing its average volume of 2,791,147 shares.
Insmed’s financial metrics reflect a stable position, with a debt-to-equity ratio of 0.59 and a quick ratio of 4.34. The company’s stock has fluctuated between a low of $60.40 and a high of $212.75 over the past year, maintaining a market capitalization of $37.29 billion. The price-to-earnings (P/E) ratio stands at -28.25, with a beta of 1.01, indicating its volatility compared to the broader market.
Recent Earnings Report and Analyst Ratings
Insmed recently released its quarterly earnings data on October 30, 2023. The biopharmaceutical company reported earnings per share (EPS) of ($1.75), which fell short of analysts’ consensus estimate of ($1.35) by $0.40. The company also recorded a negative net margin of 264.83% and a negative return on equity of 183.55%. Despite these challenges, Insmed’s revenue for the quarter reached $142.34 million, exceeding expectations of $114.33 million and marking a year-over-year increase of 52.4%.
Looking ahead, analysts project that Insmed will post an EPS of ($4.56) for the current fiscal year. Recent analyst ratings indicate a generally positive outlook for the company. For instance, TD Cowen recently lowered their target price from $269.00 to $241.00 while maintaining a “buy” rating on the stock. Meanwhile, The Goldman Sachs Group increased their price objective from $225.00 to $258.00, also assigning a “buy” rating.
Several other firms have issued ratings as well, with Wells Fargo & Company setting a target price of $195.00 and Mizuho establishing a price objective of $212.00. Currently, one analyst rates the stock as a “Strong Buy,” while twenty-one analysts give it a “Buy” rating. One analyst has rated it as a “Hold” and another as a “Sell.” The average rating for Insmed, according to MarketBeat, is classified as “Moderate Buy” with an average target price of $205.41.
Company Overview
Insmed Incorporated, headquartered in Bridgewater, New Jersey, specializes in the development and commercialization of therapies aimed at patients suffering from rare and serious diseases, particularly those with challenging pulmonary infections. The company’s flagship product, ARIKAYCE (amikacin liposome inhalation suspension), is an inhaled liposomal formulation of the antibiotic amikacin, which has gained approval from the U.S. Food and Drug Administration.
Given its focus on rare diseases and innovative treatment options, Insmed continues to navigate the complexities of the biopharmaceutical landscape while striving to improve clinical outcomes for patients with limited treatment alternatives.
