Street Calls of the Week
Martina Flammer, M.D., the Chief Medical (TASE:PMCN) Officer of Insmed Inc. (NASDAQ:INSM), recently sold a significant amount of company stock amid the company’s impressive 178% surge over the past year. According to a recent SEC filing, Flammer sold a total of 33,115 shares over two days, amounting to approximately $2.68 million. These transactions occurred at prices ranging from $79.59 to $80.90 per share, with the stock trading near its 52-week high of $82.04.
In addition to these sales, Flammer acquired 70,943 shares through the vesting of Performance Stock Units (PSUs), which were granted in January 2022 and vested on February 5, 2025. This acquisition was made at no cost, as it was part of a performance-based compensation package. The transactions come as the $14.32 billion market cap company approaches its next earnings release on February 20.
Following these transactions, Flammer holds 137,993 shares of Insmed Inc. directly. The sales were made to satisfy tax withholding obligations related to the vesting of the PSUs and to cover associated broker fees. InvestingPro subscribers can access comprehensive insider trading analysis and 12 additional ProTips about Insmed’s financial health and market position.
In other recent news, Insmed Incorporated has been making significant strides. The U.S. Food and Drug Administration (FDA) granted Priority Review status to Insmed’s New Drug Application for brensocatib, a potential treatment for non-cystic fibrosis bronchiectasis. Supported by data from the Phase 3 ASPEN study, the drug demonstrated a significant reduction in the annualized rate of pulmonary exacerbations. Insmed also plans to submit regulatory filings for brensocatib in the European Union, the United Kingdom (TADAWUL:4280), and Japan within 2025.
In the realm of analyst upgrades and downgrades, Truist Securities maintained a Buy rating on Insmed with a steady price target of $105. The firm highlighted several upcoming catalysts, including Insmed’s TPIP program and its potential multi-billion dollar market for brensocatib in bronchiectasis. Truist’s models suggest peak sales for CRSsNP, another of Insmed’s developments, could range from $1 billion adjusted to $4 billion unadjusted.
In other company news, Insmed terminated a significant sales agreement with Leerink Partners LLC. The agreement, which allowed Insmed to sell up to $500 million of its common stock through Leerink, was terminated immediately and without penalties. Lastly, Mizuho (NYSE:MFG) Securities adjusted its price target for Insmed to $88 from $92, maintaining an Outperform rating on the company’s shares, indicating a continued positive outlook on Insmed’s prospects.
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