Insmed (NASDAQ:INSM) Posts Earnings Results, Misses Estimates By $0.08 EPS

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

Insmed Price Performance

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

Insider Activity

In related news, insider Michael Alexander Smith sold 27,871 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Michael Alexander Smith sold 27,871 shares of the business’s 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 completion of the transaction, the insider now directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on INSM. Guggenheim boosted their target price on Insmed from $70.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. HC Wainwright reiterated a “buy” rating and set a $90.00 target price on shares of Insmed in a research note on Friday. Morgan Stanley increased their price target on shares of Insmed from $60.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. lifted their price objective on shares of Insmed from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Finally, UBS Group increased their target price on shares of Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.07.

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.