Roger Adsett, Chief Operating Officer of Insmed Inc (NASDAQ:INSM), recently sold shares of the company's common stock. According to a filing with the Securities and Exchange Commission, Adsett sold 1,457 shares on January 14 at a price of $68.72 per share, totaling $100,125. Following this transaction, Adsett retains direct ownership of 146,082 shares in the company. The sale comes as Insmed's stock has shown remarkable strength, delivering a 147% return over the past year, with the current share price at $72.75. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with a "Fair" overall financial health score.
The sale was conducted under a 10b5-1 trading plan, a pre-established plan that allows company insiders to sell stock at predetermined times, thus providing a measure of protection against accusations of insider trading. The company has demonstrated strong revenue growth of 22% in the last twelve months, though it remains unprofitable. For deeper insights into Insmed's financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Insmed Incorporated has reported promising developments. The company's preliminary sales of its drug Arikayce for the fiscal year 2024 amounted to approximately $364 million, surpassing both the company's guidance range of $340-$360 million and the FactSet consensus estimate of $357 million. Insmed has also projected that global revenues for Arikayce in fiscal year 2025 will reach between $405 million and $425 million. Truist Securities has reiterated their Buy rating on Insmed shares with a price target of $105.00, while Mizuho (NYSE:MFG) Securities adjusted its stock price target for Insmed to $88 from the previous target of $92, maintaining an Outperform rating. In addition, Insmed has terminated a significant sales agreement with Leerink Partners LLC. These are the recent developments, providing a snapshot of the company's current financial health and future prospects.
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