Wall Street brokerages expect Insmed Incorporated (NASDAQ:INSM) to report ($0.96) earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have issued estimates for Insmed’s earnings, with the lowest EPS estimate coming in at ($1.17) and the highest estimate coming in at ($0.83). Insmed reported earnings of ($0.86) per share during the same quarter last year, which indicates a negative year over year growth rate of 11.6%. The firm is expected to report its next earnings results on Wednesday, May 1st.
On average, analysts expect that Insmed will report full year earnings of ($3.70) per share for the current fiscal year, with EPS estimates ranging from ($4.61) to ($3.22). For the next year, analysts expect that the firm will post earnings of ($2.51) per share, with EPS estimates ranging from ($2.97) to ($1.81). Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for Insmed.
Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Friday, February 22nd. The biopharmaceutical company reported ($1.17) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.11) by ($0.06). The company had revenue of $9.84 million for the quarter, compared to the consensus estimate of $5.01 million.
Several brokerages recently commented on INSM. BidaskClub raised shares of Insmed from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Zacks Investment Research raised shares of Insmed from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Tuesday, January 22nd. HC Wainwright restated a “buy” rating and set a $52.00 target price (up previously from $43.00) on shares of Insmed in a research note on Tuesday, April 9th. ValuEngine upgraded shares of Insmed from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 19th. Finally, Canaccord Genuity set a $44.00 target price on shares of Insmed and gave the company a “buy” rating in a research note on Friday, March 8th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $37.00.
In other Insmed news, Director Donald J. Hayden, Jr. sold 6,286 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $32.99, for a total transaction of $207,375.14. Following the sale, the director now owns 68,483 shares in the company, valued at approximately $2,259,254.17. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alfred Altomari sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $27.50, for a total transaction of $151,250.00. Following the sale, the director now owns 31,442 shares in the company, valued at approximately $864,655. The disclosure for this sale can be found here. Insiders sold a total of 37,686 shares of company stock worth $1,079,517 in the last quarter. Company insiders own 3.88% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System boosted its position in shares of Insmed by 2.2% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 39,292 shares of the biopharmaceutical company’s stock worth $516,000 after purchasing an additional 842 shares in the last quarter. Legal & General Group Plc increased its position in Insmed by 4.5% in the 4th quarter. Legal & General Group Plc now owns 29,336 shares of the biopharmaceutical company’s stock valued at $385,000 after acquiring an additional 1,263 shares during the period. Virtus ETF Advisers LLC increased its position in Insmed by 23.0% in the 4th quarter. Virtus ETF Advisers LLC now owns 20,606 shares of the biopharmaceutical company’s stock valued at $270,000 after acquiring an additional 3,855 shares during the period. AQR Capital Management LLC increased its position in Insmed by 4.4% in the 3rd quarter. AQR Capital Management LLC now owns 103,376 shares of the biopharmaceutical company’s stock valued at $2,090,000 after acquiring an additional 4,373 shares during the period. Finally, Pacer Advisors Inc. acquired a new position in Insmed in the 3rd quarter valued at approximately $155,000.
INSM stock traded down $0.77 during trading on Friday, hitting $31.41. 822 shares of the stock traded hands, compared to its average volume of 690,891. Insmed has a 1 year low of $11.31 and a 1 year high of $33.13. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -7.54 and a beta of 3.03. The company has a debt-to-equity ratio of 1.52, a quick ratio of 6.42 and a current ratio of 6.51.
Insmed Company Profile
Insmed Incorporated, a biopharmaceutical company, focuses on the development and commercialization of therapies for patients with serious and rare diseases. The company's product candidate is ARIKAYCE 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 in a refractory setting.
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