Insmed (NASDAQ:INSM) Posts Earnings Results, Beats Expectations By $0.11 EPS

Insmed (NASDAQ:INSM – Get Rating) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.11, MarketWatch Earnings reports. Insmed had a negative net margin of 217.35% and a negative return on equity of 87.87%. The company had revenue of $53.10 million during the quarter, compared to the consensus estimate of $53.36 million. During the same quarter in the prior year, the firm posted ($0.89) EPS. The firm’s quarterly revenue was up 32.1% on a year-over-year basis.

Shares of INSM traded down $2.41 during trading hours on Friday, reaching $20.59. 1,824,425 shares of the stock traded hands, compared to its average volume of 941,544. The company has a current ratio of 6.19, a quick ratio of 5.70 and a debt-to-equity ratio of 1.41. The stock has a fifty day simple moving average of $23.43 and a 200 day simple moving average of $25.42. Insmed has a 52 week low of $20.02 and a 52 week high of $34.44. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -5.45 and a beta of 2.06.

In related news, CEO William Lewis sold 96,614 shares of the firm’s stock in a transaction dated Wednesday, March 23rd. The shares were sold at an average price of $23.16, for a total transaction of $2,237,580.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.63% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its position in Insmed by 91.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 463,326 shares of the biopharmaceutical company’s stock worth $12,621,000 after acquiring an additional 221,138 shares during the period. California State Teachers Retirement System increased its stake in shares of Insmed by 4.2% in the fourth quarter. California State Teachers Retirement System now owns 161,468 shares of the biopharmaceutical company’s stock worth $4,398,000 after purchasing an additional 6,463 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Insmed by 1.3% in the fourth quarter. Legal & General Group Plc now owns 106,680 shares of the biopharmaceutical company’s stock worth $2,906,000 after purchasing an additional 1,364 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Insmed by 3.1% in the fourth quarter. Parametric Portfolio Associates LLC now owns 103,642 shares of the biopharmaceutical company’s stock worth $2,823,000 after purchasing an additional 3,107 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Insmed by 398.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 94,618 shares of the biopharmaceutical company’s stock worth $2,577,000 after purchasing an additional 75,630 shares in the last quarter.

INSM has been the subject of several research reports. SVB Leerink dropped their price objective on shares of Insmed from $57.00 to $52.00 and set an “outperform” rating for the company in a research note on Tuesday, February 22nd. Zacks Investment Research upgraded shares of Insmed from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. StockNews.com initiated coverage on shares of Insmed in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Insmed in a report on Wednesday, April 27th. They issued a “buy” rating and a $56.00 price target for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $50.29.

Insmed Company Profile (Get Rating)

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.

Featured Stories