Wall Street analysts forecast that Insmed Incorporated (NASDAQ:INSM) will announce sales of $43.43 million for the current quarter, Zacks reports. Four analysts have provided estimates for Insmed’s earnings. The highest sales estimate is $45.97 million and the lowest is $41.01 million. Insmed posted sales of $42.50 million during the same quarter last year, which suggests a positive year-over-year growth rate of 2.2%. The firm is expected to announce its next quarterly earnings report on Thursday, August 5th.
According to Zacks, analysts expect that Insmed will report full year sales of $195.75 million for the current financial year, with estimates ranging from $177.33 million to $213.90 million. For the next financial year, analysts expect that the business will post sales of $312.59 million, with estimates ranging from $265.30 million to $373.51 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Insmed.
Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, May 6th. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.02. The firm had revenue of $40.21 million during the quarter, compared to analyst estimates of $41.64 million. Insmed had a negative net margin of 190.36% and a negative return on equity of 103.03%. Insmed’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.74) earnings per share.
Several research firms recently weighed in on INSM. Morgan Stanley decreased their price objective on Insmed from $58.00 to $56.00 and set an “overweight” rating for the company in a report on Monday, May 17th. Zacks Investment Research cut shares of Insmed from a “buy” rating to a “hold” rating in a report on Tuesday, May 11th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Insmed currently has a consensus rating of “Buy” and an average price target of $51.38.
Shares of NASDAQ:INSM traded up $0.50 on Friday, hitting $24.67. 16,680 shares of the company’s stock were exchanged, compared to its average volume of 1,920,185. Insmed has a 12 month low of $23.81 and a 12 month high of $45.44. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -7.65 and a beta of 2.25. The business’s 50 day simple moving average is $30.71 and its two-hundred day simple moving average is $36.07. The company has a debt-to-equity ratio of 1.86, a current ratio of 6.16 and a quick ratio of 5.52.
In related news, insider John Soriano sold 45,412 shares of the business’s stock in a transaction dated Wednesday, March 10th. The stock was sold at an average price of $40.38, for a total value of $1,833,736.56. Following the transaction, the insider now owns 53,490 shares in the company, valued at approximately $2,159,926.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Lewis sold 50,000 shares of the business’s stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $36.19, for a total value of $1,809,500.00. Following the completion of the transaction, the chief executive officer now owns 229,608 shares in the company, valued at approximately $8,309,513.52. The disclosure for this sale can be found here. 4.63% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of INSM. Baillie Gifford & Co. acquired a new position in shares of Insmed in the 4th quarter valued at about $25,000. Perigon Wealth Management LLC bought a new position in shares of Insmed in the 4th quarter worth about $33,000. Eaton Vance Management bought a new stake in Insmed in the 1st quarter valued at about $36,000. Penserra Capital Management LLC increased its stake in Insmed by 169.6% during the 4th quarter. Penserra Capital Management LLC now owns 2,335 shares of the biopharmaceutical company’s stock valued at $77,000 after buying an additional 1,469 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Insmed during the 1st quarter valued at about $83,000.
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.
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