Insmed (NASDAQ:INSM) Releases Earnings Results

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

Insmed Stock Up 1.5 %

Shares of INSM stock traded up $1.04 on Friday, reaching $68.32. 1,617,224 shares of the company were exchanged, compared to its average volume of 2,277,338. 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 50-day moving average of $73.24 and a 200-day moving average of $60.98. The company has a market cap of $11.74 billion, a price-to-earnings ratio of -12.68 and a beta of 1.11. Insmed has a one year low of $21.92 and a one year high of $80.53.

Analyst Upgrades and Downgrades

INSM has been the subject of a number of recent research reports. Guggenheim upped their target price on Insmed from $70.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. StockNews.com downgraded shares of Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. UBS Group upped their price target 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. Stifel Nicolaus raised their price target on shares of Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, The Goldman Sachs Group boosted their price objective on shares of Insmed from $74.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.07.

Insider Activity at Insmed

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value of $2,686,612.50. Following the transaction, the insider now owns 100,100 shares in the company, valued at approximately $7,157,150. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Insmed news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total value of $2,686,612.50. Following the transaction, the insider now directly owns 100,100 shares of the company’s stock, valued at approximately $7,157,150. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $1,006,625.12. Following the sale, the insider now directly owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock valued at $5,765,446 in the last three months. 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.