Insmed’s chief medical officer sells $725,820 in inventory

Martina Flammer, M.D., the Chief Medical (TASE:PMCN) Officer of Insmed Inc. (NASDAQ:INSM), has lately offered shares of the corporate’s widespread inventory. In response to a submitting with the Securities and Change Fee, Dr. Flammer offered a complete of 11,218 shares over a number of transactions, producing proceeds of roughly $725,820. The transactions come as Insmed’s inventory has proven outstanding energy, delivering a 130% return over the previous yr. InvestingPro knowledge exhibits analysts preserve a powerful purchase consensus, with worth targets starting from $67 to $105.

The gross sales occurred on January 7, 8, and 10, with costs starting from $63.73 to $66.16 per share. The transactions have been made to fulfill tax withholding obligations upon the vesting of Restricted Inventory Models (RSUs) and to cowl associated dealer charges. Following these transactions, Dr. Flammer holds 101,549 shares of Insmed widespread inventory immediately.

Moreover, Dr. Flammer acquired 6,657 shares of widespread inventory via RSUs and 31,930 inventory choices, which have been granted without charge as a part of the corporate’s Amended and Restated 2019 Incentive Plan. These choices have an train worth of $65.72 per share and can vest over a time period in response to the corporate’s vesting schedule.

In different latest information, Insmed Integrated has reported vital development in its third-quarter monetary outcomes, with world internet revenues growing by 18% year-over-year to achieve $93.4 million. This development is primarily attributed to the profitable gross sales of ARIKAYCE, which has proven double-digit income development for seven consecutive quarters. The corporate maintains its full-year income steering of $340 million to $360 million.

In a latest growth, Insmed ended a considerable gross sales settlement with Leerink Companions LLC. The termination doesn’t incur any penalties for Insmed, and the corporate has not issued or offered any shares underneath this settlement since September 30, 2024.

Mizuho (NYSE:MFG) Securities has adjusted its inventory worth goal for Insmed to $88 from the earlier goal of $92, whereas sustaining an Outperform score. The agency’s new projection suggests a constructive outlook on Insmed’s prospects, largely based mostly on the anticipated market introduction of the drug brensocatib.

Insmed is making ready for the anticipated mid-2025 launch of brensocatib and plans to file a New Drug Utility within the fourth quarter of 2024. The corporate can also be advancing medical trials for brensocatib in continual rhinosinusitis and hidradenitis suppurativa, with outcomes anticipated by late 2025.

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