Q3 2024 EPS Estimates for Insmed Incorporated (NASDAQ:INSM) Decreased by HC Wainwright

Insmed Incorporated (NASDAQ:INSM) – Research analysts at HC Wainwright reduced their Q3 2024 earnings per share estimates for shares of Insmed in a report issued on Monday, August 12th. HC Wainwright analyst A. Fein now forecasts that the biopharmaceutical company will earn ($1.42) per share for the quarter, down from their prior forecast of ($0.51). HC Wainwright currently has a “Buy” rating and a $90.00 target price on the stock. The consensus estimate for Insmed’s current full-year earnings is ($4.71) per share. HC Wainwright also issued estimates for Insmed’s Q4 2024 earnings at ($1.42) EPS, FY2024 earnings at ($4.86) EPS, FY2025 earnings at ($3.95) EPS, FY2026 earnings at ($1.91) EPS, FY2027 earnings at $0.16 EPS and FY2028 earnings at $1.97 EPS.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The business had revenue of $90.34 million during the quarter, compared to analysts’ expectations of $87.95 million. During the same quarter last year, the firm earned ($1.78) EPS. Insmed’s revenue for the quarter was up 17.0% on a year-over-year basis.

A number of other equities analysts have also commented on INSM. Morgan Stanley lifted their price objective on Insmed from $60.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. Wells Fargo & Company boosted their price objective on Insmed from $55.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. Truist Financial dropped their price target on Insmed from $88.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday. Bank of America restated a “buy” rating and issued a $83.00 target price on shares of Insmed in a research note on Friday, July 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.19.

Insmed Trading Down 1.0 %

Shares of INSM stock opened at $74.14 on Wednesday. The business’s 50-day moving average price is $69.91 and its 200-day moving average price is $43.24. Insmed has a 12 month low of $21.21 and a 12 month high of $78.87. The firm has a market capitalization of $11.02 billion, a price-to-earnings ratio of -14.18 and a beta of 1.16.

Institutional Trading of Insmed

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rafferty Asset Management LLC boosted its holdings in Insmed by 17.4% in the fourth quarter. Rafferty Asset Management LLC now owns 321,087 shares of the biopharmaceutical company’s stock valued at $9,950,000 after purchasing an additional 47,563 shares in the last quarter. Kingdon Capital Management L.L.C. purchased a new position in Insmed in the 4th quarter valued at approximately $12,551,000. Artia Global Partners LP acquired a new position in Insmed during the fourth quarter worth $2,322,000. Norges Bank purchased a new stake in Insmed during the fourth quarter worth $45,029,000. Finally, Clearbridge Investments LLC acquired a new position in shares of Insmed during the 1st quarter worth $25,242,000.

Insider Activity at Insmed

In other news, insider John Drayton Wise sold 7,852 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $49.79, for a total value of $390,951.08. Following the completion of the transaction, the insider now owns 121,657 shares of the company’s stock, valued at approximately $6,057,302.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Insmed news, insider John Drayton Wise sold 7,852 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $49.79, for a total transaction of $390,951.08. Following the completion of the sale, the insider now directly owns 121,657 shares in the company, valued at approximately $6,057,302.03. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Sara Bonstein sold 220,564 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $50.00, for a total value of $11,028,200.00. Following the completion of the sale, the chief financial officer now owns 117,481 shares of the company’s stock, valued at $5,874,050. The disclosure for this sale can be found here. Insiders have sold 249,611 shares of company stock valued at $12,584,876 in the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Insmed Company Profile

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.