Analysts forecast that Insmed Incorporated (NASDAQ:INSM) will announce earnings of ($1.13) per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Insmed’s earnings, with the highest EPS estimate coming in at ($1.01) and the lowest estimate coming in at ($1.24). Insmed posted earnings of ($0.85) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 32.9%. The business is scheduled to issue its next earnings results on Friday, February 22nd.
On average, analysts expect that Insmed will report full-year earnings of ($4.11) per share for the current financial year, with EPS estimates ranging from ($4.27) to ($3.78). For the next fiscal year, analysts anticipate that the firm will post earnings of ($3.77) per share, with EPS estimates ranging from ($5.03) to ($2.79). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Insmed.
Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.08).
Several brokerages have weighed in on INSM. Morgan Stanley raised their price objective on Insmed from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Monday, August 6th. ValuEngine cut Insmed from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Goldman Sachs Group began coverage on Insmed in a research note on Monday, July 23rd. They set a “neutral” rating and a $32.00 price objective on the stock. BidaskClub cut Insmed from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 19th. Finally, Credit Suisse Group raised their price objective on Insmed from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, October 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $35.50.
NASDAQ:INSM traded down $0.16 during trading hours on Friday, hitting $16.62. 15,033 shares of the company traded hands, compared to its average volume of 836,525. The company has a current ratio of 10.06, a quick ratio of 10.06 and a debt-to-equity ratio of 1.07. Insmed has a one year low of $13.85 and a one year high of $33.94. The stock has a market cap of $1.26 billion, a PE ratio of -5.85 and a beta of 1.73.
In other Insmed news, Director Steinar J. Engelsen bought 16,085 shares of the stock in a transaction dated Thursday, November 1st. The shares were bought at an average cost of $15.79 per share, for a total transaction of $253,982.15. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William Lewis bought 15,700 shares of the stock in a transaction dated Thursday, November 1st. The shares were acquired at an average price of $15.90 per share, for a total transaction of $249,630.00. Following the completion of the purchase, the chief executive officer now directly owns 151,247 shares in the company, valued at $2,404,827.30. The disclosure for this purchase can be found here. Insiders have bought a total of 34,785 shares of company stock worth $551,522 over the last quarter. Company insiders own 3.88% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in INSM. NumerixS Investment Technologies Inc purchased a new stake in Insmed in the 2nd quarter worth about $122,000. Dynamic Technology Lab Private Ltd purchased a new position in Insmed during the 2nd quarter valued at about $200,000. Cubist Systematic Strategies LLC purchased a new position in Insmed during the 2nd quarter valued at about $200,000. Summit Trail Advisors LLC purchased a new position in Insmed during the 1st quarter valued at about $250,000. Finally, Xact Kapitalforvaltning AB grew its holdings in Insmed by 86.9% during the 1st quarter. Xact Kapitalforvaltning AB now owns 15,481 shares of the biopharmaceutical company’s stock valued at $349,000 after buying an additional 7,200 shares in the last quarter.
Insmed Incorporated, a biopharmaceutical company, focuses on the development and commercialization of therapies for patients with rare diseases. The company's lead product candidate is amikacin liposome inhalation suspension, which is in late-state development for adult patients with treatment refractory nontuberculous mycobacteria lung disease caused by mycobacterium avium complex.
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