Insmed (NASDAQ:INSM) Issues Quarterly Earnings Results

by · The Markets Daily

Insmed (NASDAQ:INSM – Get Free Report) posted its quarterly earnings results on Thursday. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08), Briefing.com reports. The business had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $93.36 million. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the firm earned ($1.10) EPS. Insmed updated its FY 2024 guidance to EPS.

Insmed Stock Performance

Insmed stock traded up $1.04 during mid-day trading on Friday, reaching $68.32. 1,617,224 shares of the company’s stock were exchanged, compared to its average volume of 2,277,338. The business’s fifty day simple moving average is $73.24 and its 200 day simple moving average is $60.98. The company has a quick ratio of 2.53, a current ratio of 2.71 and a debt-to-equity ratio of 25.05. Insmed has a one year low of $21.92 and a one year high of $80.53. The firm has a market capitalization of $11.74 billion, a PE ratio of -12.68 and a beta of 1.11.

Insider Buying and Selling at Insmed

In related news, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the sale, the insider now owns 67,856 shares in the company, valued at approximately $5,045,093.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the sale, the insider now directly owns 106,134 shares in the company, valued at approximately $7,951,559.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction dated 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 owns 67,856 shares of the company’s stock, valued at $5,045,093.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock worth $5,765,446 in the last quarter. 4.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

INSM has been the subject of several research analyst reports. Guggenheim lifted their price target on shares of Insmed from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. The Goldman Sachs Group boosted their target price on Insmed from $74.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Stifel Nicolaus increased their price target on Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, August 9th. UBS Group boosted their price objective on Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Bank of America upped their target price on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.07.

Read Our Latest Report on INSM

Insmed Company Profile

(Get Free Report)

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.

See Also