Brokers Set Expectations for Insmed Incorporated’s Q2 2024 Earnings (NASDAQ:INSM)

Insmed Incorporated (NASDAQ:INSM) – Equities research analysts at Leerink Partnrs raised their Q2 2024 EPS estimates for shares of Insmed in a research note issued to investors on Monday, June 10th. Leerink Partnrs analyst J. Schwartz now expects that the biopharmaceutical company will post earnings of ($0.98) per share for the quarter, up from their previous estimate of ($1.00). The consensus estimate for Insmed’s current full-year earnings is ($4.51) per share. Leerink Partnrs also issued estimates for Insmed’s Q3 2024 earnings at ($1.02) EPS, Q4 2024 earnings at ($1.05) EPS, FY2024 earnings at ($4.11) EPS, FY2025 earnings at ($3.68) EPS and FY2026 earnings at ($3.08) EPS.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.22) by $0.16. The company had revenue of $75.50 million for the quarter, compared to the consensus estimate of $77.76 million. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.17) EPS.

INSM has been the topic of a number of other research reports. StockNews.com raised shares of Insmed from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th. JPMorgan Chase & Co. upped their target price on shares of Insmed from $36.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th. Bank of America restated a “buy” rating and issued a $40.00 price target on shares of Insmed in a research report on Tuesday, May 28th. Morgan Stanley raised their price objective on shares of Insmed from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. Finally, TD Cowen raised their price objective on shares of Insmed from $45.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Insmed currently has a consensus rating of “Moderate Buy” and an average target price of $59.25.

Insmed Stock Down 0.4 %

NASDAQ INSM opened at $61.65 on Wednesday. The stock has a market cap of $9.16 billion, a P/E ratio of -11.79 and a beta of 1.12. The company’s 50-day simple moving average is $33.10 and its 200 day simple moving average is $29.81. Insmed has a twelve month low of $18.77 and a twelve month high of $63.23.

Institutional Investors Weigh In On Insmed

Several hedge funds have recently bought and sold shares of INSM. Comerica Bank raised its holdings in shares of Insmed by 3,984.1% during the first quarter. Comerica Bank now owns 49,540 shares of the biopharmaceutical company’s stock worth $1,344,000 after acquiring an additional 48,327 shares during the period. Kennedy Capital Management LLC acquired a new stake in shares of Insmed during the first quarter worth $267,000. Hood River Capital Management LLC raised its holdings in shares of Insmed by 6.3% during the first quarter. Hood River Capital Management LLC now owns 962,501 shares of the biopharmaceutical company’s stock worth $26,113,000 after acquiring an additional 56,682 shares during the period. Capital International Investors acquired a new stake in shares of Insmed during the first quarter worth $43,973,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Insmed during the first quarter worth $442,000.

Insider Activity at Insmed

In related news, CEO William Lewis sold 22,198 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $25.52, for a total value of $566,492.96. Following the transaction, the chief executive officer now directly owns 384,125 shares in the company, valued at $9,802,870. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Insmed news, CEO William Lewis sold 22,198 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $25.52, for a total value of $566,492.96. Following the sale, the chief executive officer now directly owns 384,125 shares in the company, valued at $9,802,870. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sara Bonstein sold 11,088 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.32, for a total transaction of $280,748.16. Following the completion of the sale, the chief financial officer now owns 117,481 shares in the company, valued at $2,974,618.92. The disclosure for this sale can be found here. Insiders have sold 295,842 shares of company stock worth $13,762,062 over the last ninety days. Company insiders own 4.60% of the company’s stock.

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.