Insmed (NASDAQ:INSM) Announces Quarterly Earnings Results

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

Insmed Trading Up 1.5 %

Shares of NASDAQ:INSM traded up $1.04 during trading on Friday, reaching $68.32. 1,617,224 shares of the company traded hands, compared to its average volume of 2,277,338. The company has a current ratio of 2.71, a quick ratio of 2.53 and a debt-to-equity ratio of 25.05. Insmed has a 52-week low of $21.92 and a 52-week high of $80.53. The firm has a market capitalization of $11.74 billion, a price-to-earnings ratio of -12.68 and a beta of 1.11. The business’s fifty day moving average is $73.24 and its 200-day moving average is $60.98.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price target on shares of Insmed in a report on Friday. Guggenheim raised their target price 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. JPMorgan Chase & Co. lifted their target price on shares of Insmed from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a report on Monday, September 9th. Finally, UBS Group lifted their price objective on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.07.

Insider Buying and Selling

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the sale, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Michael Alexander Smith sold 27,871 shares of Insmed stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the sale, the insider now owns 67,856 shares in the company, valued at $5,045,093.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the transaction, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,882 shares of company stock valued at $5,765,446 over the last three months. 4.60% of the stock is owned by company insiders.

About Insmed

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.