Insmed (NASDAQ:INSM) Shares Gap Up - What's Next?

Insmed Incorporated (NASDAQ:INSM - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $66.61, but opened at $68.50. Insmed shares last traded at $70.67, with a volume of 236,403 shares changing hands.

Analyst Ratings Changes

INSM has been the subject of a number of analyst reports. UBS Group lifted their price target on shares of Insmed from $78.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Bank of America lifted their price objective on Insmed from $84.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on Insmed from $72.00 to $74.00 and gave the stock an "overweight" rating in a report on Thursday, October 3rd. Stifel Nicolaus upped their price objective on shares of Insmed from $74.00 to $88.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Finally, StockNews.com lowered shares of Insmed from a "hold" rating to a "sell" rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $83.07.

Insmed Stock Up 10.7 %

The firm has a 50-day simple moving average of $72.03 and a 200 day simple moving average of $65.26. The stock has a market capitalization of $13.19 billion, a P/E ratio of -13.28 and a beta of 1.12. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.08). The company had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. The firm's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the firm earned ($1.10) EPS. On average, equities research analysts forecast that Insmed Incorporated will post -5.42 EPS for the current year.

Insider Transactions at Insmed

In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the transaction, the insider now directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. This represents a 29.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the sale, the insider now directly owns 100,100 shares of the company's stock, valued at approximately $7,157,150. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,882 shares of company stock worth $5,765,446. Company insiders own 4.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Darwin Global Management Ltd. acquired a new position in shares of Insmed during the second quarter valued at about $237,076,000. Capital International Investors bought a new position in Insmed in the first quarter worth approximately $43,973,000. Clearbridge Investments LLC acquired a new stake in Insmed in the first quarter valued at approximately $25,242,000. Vestal Point Capital LP increased its holdings in shares of Insmed by 113.3% during the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company's stock valued at $116,800,000 after acquiring an additional 850,000 shares in the last quarter. Finally, Fiera Capital Corp bought a new stake in shares of Insmed during the second quarter valued at approximately $40,570,000.

About Insmed

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.