Insmed (INSM) Shares Gap Down to $26.41

Shares of Insmed Incorporated (NASDAQ:INSM) gapped down before the market opened on Wednesday . The stock had previously closed at $25.87, but opened at $26.41. Insmed shares last traded at $25.98, with a volume of 3601481 shares trading hands.

INSM has been the topic of several recent analyst reports. Zacks Investment Research upgraded Insmed from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Tuesday, January 22nd. ValuEngine upgraded Insmed from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 30th. JMP Securities upgraded Insmed from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Friday, February 15th. BidaskClub downgraded Insmed from a “buy” rating to a “hold” rating in a research note on Friday, February 22nd. Finally, Canaccord Genuity set a $44.00 price target on Insmed and gave the stock a “buy” rating in a research note on Friday, March 8th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Insmed currently has a consensus rating of “Buy” and a consensus target price of $37.88.

The company has a market capitalization of $2.05 billion, a PE ratio of -6.24 and a beta of 2.98. The company has a quick ratio of 4.69, a current ratio of 4.82 and a debt-to-equity ratio of 2.48.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.96) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.94) by ($0.02). The firm had revenue of $21.90 million during the quarter, compared to analysts’ expectations of $19.61 million. As a group, analysts forecast that Insmed Incorporated will post -3.7 EPS for the current year.

In related news, Director Donald J. Hayden, Jr. sold 6,286 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $32.99, for a total value of $207,375.14. Following the transaction, the director now directly owns 68,483 shares of the company’s stock, valued at approximately $2,259,254.17. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Donald J. Hayden, Jr. sold 14,900 shares of the firm’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $28.08, for a total value of $418,392.00. Following the completion of the transaction, the director now directly owns 77,097 shares in the company, valued at $2,164,883.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,686 shares of company stock worth $790,767. Company insiders own 4.95% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Coastal Investment Advisors Inc. bought a new position in Insmed in the 1st quarter worth $45,000. Strs Ohio bought a new stake in Insmed during the first quarter valued at about $75,000. NumerixS Investment Technologies Inc bought a new stake in Insmed during the first quarter valued at about $106,000. Amundi Pioneer Asset Management Inc. bought a new stake in Insmed during the fourth quarter valued at about $101,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Insmed during the first quarter valued at about $254,000.

TRADEMARK VIOLATION WARNING: “Insmed (INSM) Shares Gap Down to $26.41” was reported by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://www.baseballdailydigest.com/news/2019/05/22/insmed-insm-shares-gap-down-to-26-41.html.

Insmed Company Profile (NASDAQ:INSM)

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.

See Also: Google Finance

Receive News & Ratings for Insmed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insmed and related companies with MarketBeat.com's FREE daily email newsletter.