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

Posted by admin on Aug 6th, 2022

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

Insmed Stock Performance

Insmed stock traded up $2.69 during trading hours on Friday, hitting $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 50-day moving average of $21.03 and a two-hundred day moving average of $21.98. The company has a quick ratio of 5.52, a current ratio of 6.04 and a debt-to-equity ratio of 6.73. The company has a market cap of $3.32 billion, a PE ratio of -7.34 and a beta of 1.91. Insmed has a fifty-two week low of $16.41 and a fifty-two week high of $34.44.

Analysts Set New Price Targets

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

Insider Buying and Selling at Insmed

In other Insmed news, CEO William Lewis sold 96,614 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 256,716 shares of the company’s stock, valued at approximately $5,904,468. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Melvin Md Sharoky acquired 20,000 shares of the stock in a transaction dated Wednesday, May 11th. The shares were bought at an average cost 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 acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William Lewis sold 96,614 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 256,716 shares in the company, valued at $5,904,468. The disclosure for this sale can be found here. Insiders own 4.63% of the company’s stock.

Institutional Investors Weigh In On Insmed

Large investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd grew 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 during the period. Cetera Advisor Networks LLC grew 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 during the period. First Trust Advisors LP bought a new stake in shares of Insmed in the 1st quarter valued at approximately $347,000. Engineers Gate Manager LP bought a new stake in shares of Insmed in the 1st quarter valued at approximately $455,000. Finally, Panagora Asset Management Inc. bought a new stake in Insmed during the 1st quarter worth approximately $660,000.

Insmed Company Profile

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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.