William Lewis, the CEO of Insmed, Inc. (NASDAQ: INSM), sold 10,699 shares of the company’s stock on December 18, 2023. The shares were sold at an average price of $166.97, amounting to a total transaction value of $1,786,412.03. Following this sale, Lewis retains a direct ownership of 303,911 shares, which are currently valued at approximately $50,744,019.67. This transaction represents a 3.40% decrease in his overall stake in the company.
The details of the sale were disclosed in a legal filing with the Securities and Exchange Commission, accessible to the public.
Insmed’s Market Performance and Financial Overview
On the following trading day, shares of Insmed increased by $8.29 to reach $174.84. The trading volume for this stock hit 19,055,575 shares, significantly surpassing its average volume of 2,791,147. Insmed currently holds a market capitalization of $37.29 billion, with a price-to-earnings (P/E) ratio of -28.25 and a beta of 1.01. The company has maintained a debt-to-equity ratio of 0.59, and its quick and current ratios stand at 4.34 and 4.63, respectively.
Over the past year, Insmed’s stock has fluctuated, reaching a low of $60.40 and a high of $212.75. Its fifty-day moving average price is $187.41, while the 200-day moving average price sits at $142.30.
In its most recent earnings report, released on October 30, 2023, Insmed reported a loss of ($1.75) earnings per share (EPS) for the quarter, falling short of analysts’ expectations of ($1.35) by ($0.40). Despite the loss, the company reported a revenue of $142.34 million, exceeding expectations of $114.33 million. Compared to the same quarter the previous year, Insmed experienced a 52.4% increase in revenue.
Analyst Ratings and Future Outlook
Recent analyst ratings indicate a mixed outlook for Insmed. TD Cowen reduced their target price from $269.00 to $241.00, maintaining a “buy” rating. Conversely, The Goldman Sachs Group raised their price objective from $225.00 to $258.00, also issuing a “buy” rating. Wells Fargo & Company set a target price of $195.00, while Rothschild & Co Redburn initiated coverage with a “buy” rating and a price target of $263.00.
Currently, the consensus among analysts is overwhelmingly positive, with one analyst issuing a “Strong Buy” rating, twenty-one rating it as a “Buy,” one as “Hold,” and one as “Sell.” MarketBeat data shows that Insmed has an average rating of “Moderate Buy” and an average target price of $205.41.
Insmed Incorporated is a biopharmaceutical company headquartered in Bridgewater, New Jersey. The firm focuses on developing therapies for patients with rare and serious diseases, particularly targeting difficult-to-treat pulmonary infections. Its principal marketed product, ARIKAYCE (amikacin liposome inhalation suspension), is an inhaled formulation of the antibiotic amikacin approved for use in the United States.
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