Insmed (INSM) Set to Announce Earnings on Thursday

Insmed (NASDAQ:INSM) will post its quarterly earnings results before the market opens on Thursday, August 8th. Analysts expect Insmed to post earnings of ($1.22) per share for the quarter. Insmed has set its FY 2024 guidance at EPS.Parties interested in participating in the company’s conference call can do so using this link.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.16. The company had revenue of $75.50 million for the quarter, compared to analysts’ expectations of $77.76 million. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period last year, the business earned ($1.17) earnings per share. On average, analysts expect Insmed to post $-5 EPS for the current fiscal year and $-4 EPS for the next fiscal year.

Insmed Stock Performance

INSM opened at $72.68 on Wednesday. The stock has a market capitalization of $10.80 billion, a price-to-earnings ratio of -13.90 and a beta of 1.16. The company has a fifty day moving average of $67.80 and a 200 day moving average of $41.41. Insmed has a fifty-two week low of $21.21 and a fifty-two week high of $78.87.

Insider Activity

In other Insmed news, CEO William Lewis sold 22,198 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.52, for a total transaction of $566,492.96. Following the transaction, the chief executive officer now owns 384,125 shares of the company’s stock, valued at approximately $9,802,870. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Insmed news, insider John Drayton Wise sold 5,088 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total transaction of $129,591.36. Following the completion of the sale, the insider now directly owns 123,259 shares of the company’s stock, valued at $3,139,406.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William Lewis sold 22,198 shares of Insmed stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total transaction of $566,492.96. Following the completion of the transaction, the chief executive officer now directly owns 384,125 shares in the company, valued at approximately $9,802,870. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 295,842 shares of company stock worth $13,762,062. Company insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on INSM. Mizuho increased their price target on Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a report on Thursday, June 20th. HC Wainwright upped their price target on shares of Insmed from $70.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Morgan Stanley lifted their price objective on shares of Insmed from $60.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. Finally, Guggenheim increased their price target on shares of Insmed from $70.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.50.

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.