Insmed (INSM) Shares Gap Up Following Insider Buying Activity

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Insmed Incorporated (NASDAQ:INSM) gapped up prior to trading on Monday after an insider bought additional shares in the company. The stock had previously closed at $15.54, but opened at $16.33. Insmed shares last traded at $17.18, with a volume of 1536123 shares traded.

Specifically, Director Steinar J. Engelsen purchased 16,085 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The stock was bought at an average cost of $15.79 per share, with a total value of $253,982.15. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Roger Adsett purchased 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were acquired at an average cost of $15.97 per share, with a total value of $47,910.00. Following the completion of the transaction, the insider now directly owns 18,594 shares of the company’s stock, valued at approximately $296,946.18. The disclosure for this purchase can be found here. Insiders have purchased 34,785 shares of company stock valued at $551,522 over the last ninety days. 3.88% of the stock is currently owned by company insiders.

A number of analysts recently commented on the company. Zacks Investment Research raised Insmed from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Credit Suisse Group increased their price target on Insmed from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, October 1st. Morgan Stanley increased their price target on Insmed from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Monday, August 6th. ValuEngine raised Insmed from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Finally, Goldman Sachs Group set a $25.00 target price on Insmed and gave the stock a “hold” rating in a research report on Wednesday, September 19th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $35.50.

The company has a debt-to-equity ratio of 1.07, a current ratio of 10.06 and a quick ratio of 10.06. The stock has a market capitalization of $1.26 billion, a PE ratio of -5.81 and a beta of 1.73.

Insmed (NASDAQ:INSM) last released its earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.06) by ($0.08). Analysts anticipate that Insmed Incorporated will post -4.13 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC boosted its holdings in shares of Insmed by 31.9% in the second quarter. Voya Investment Management LLC now owns 1,053,468 shares of the biopharmaceutical company’s stock worth $24,914,000 after acquiring an additional 254,853 shares during the period. Northern Trust Corp boosted its holdings in shares of Insmed by 3.1% in the second quarter. Northern Trust Corp now owns 987,228 shares of the biopharmaceutical company’s stock worth $23,348,000 after acquiring an additional 30,064 shares during the period. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Insmed by 34.2% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 845,858 shares of the biopharmaceutical company’s stock worth $17,103,000 after acquiring an additional 215,743 shares during the period. Emerald Advisers Inc. PA boosted its holdings in shares of Insmed by 10.1% in the third quarter. Emerald Advisers Inc. PA now owns 791,474 shares of the biopharmaceutical company’s stock worth $16,004,000 after acquiring an additional 72,585 shares during the period. Finally, Bellevue Group AG boosted its holdings in shares of Insmed by 26.8% in the second quarter. Bellevue Group AG now owns 424,051 shares of the biopharmaceutical company’s stock worth $10,029,000 after acquiring an additional 89,562 shares during the period.

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About Insmed (NASDAQ:INSM)

Insmed Incorporated, a biopharmaceutical company, focuses on the development and commercialization of therapies for patients with rare diseases. The company's lead product candidate is amikacin liposome inhalation suspension, which is in late-state development for adult patients with treatment refractory nontuberculous mycobacteria lung disease caused by mycobacterium avium complex.

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