In yesterday’s Wall Street session, Insmed Inc (NASDAQ:INSM) shares traded at $53.55, up 11.42% from the previous session.
INSM stock price is now 102.83% away from the 50-day moving average and 103.16% away from the 200-day moving average. The market capitalization of the company currently stands at $7.96B.
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With the price target of $48, Truist recently initiated with Buy rating for Insmed Inc (NASDAQ: INSM). On February 15, 2024, Wolfe Research recently initiated its ‘Outperform’ rating on the stock quoting a target price of $42, while ‘Wells Fargo’ rates the stock as ‘Overweight’
In other news, Adsett Roger, Chief Operating Officer sold 5,945 shares of the company’s stock on May 17 ’24. The stock was sold for $149,160 at an average price of $25.09. Upon completion of the transaction, the Chief Operating Officer now directly owns 149,275 shares in the company, valued at $7.99 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 17 ’24, Chief Medical Officer Flammer Martina M.D. sold 4,642 shares of the business’s stock. A total of $116,468 was realized by selling the stock at an average price of $25.09. This leaves the insider owning 106,134 shares of the company worth $5.68 million. A total of 3.00% of the company’s stock is owned by insiders.
During the past 12 months, Insmed Inc has had a low of $18.31 and a high of $50.10. The fifty day moving average price for INSM is $26.402 and a two-hundred day moving average price translates $26.35835 for the stock.
The latest earnings results from Insmed Inc (NASDAQ: INSM) was released for 2024-03-31. According to the Biotechnology Company, earnings per share came in at -1.78, missing analysts’ expectations of -1.13 by -0.65. This compares to -$1.17 EPS in the same period last year. The net profit margin was -236.74% and return on equity was -1453.41% for INSM. The company reported revenue of $75.5 million for the quarter, compared to $65.21 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 15.77 percent. For the current quarter, analysts expect INSM to generate $87.83M in revenue.
Insmed Inc(INSM) Company Profile
Insmed Incorporated, a biopharmaceutical company, develops and commercializes therapies for patients with serious and rare diseases in the United States, Europe, Japan, and internationally. The company offers ARIKAYCE for the treatment of Mycobacterium avium complex lung disease as part of a combination antibacterial drug regimen for adult patients. It is also developing Brensocatib, an oral reversible inhibitor of dipeptidyl peptidase 1 for the treatment of patients with bronchiectasis and other neutrophil-mediated diseases; and Treprostinil Palmitil Inhalation Powder, an inhaled formulation of a treprostinil prodrug treprostinil palmitil for the treatment of pulmonary hypertension associated with interstitial lung disease and pulmonary arterial hypertension. The company was founded in 1988 and is headquartered in Bridgewater, New Jersey.
