FY2024 EPS Estimates for Insmed Lifted by Cantor Fitzgerald

Insmed Incorporated (NASDAQ:INSM) – Analysts at Cantor Fitzgerald lifted their FY2024 EPS estimates for Insmed in a research note issued to investors on Wednesday, February 19th. Cantor Fitzgerald analyst J. Kim now anticipates that the biopharmaceutical company will post earnings per share of ($5.41) for the year, up from their previous forecast of ($5.46). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for Insmed’s current full-year earnings is ($5.42) per share.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The business had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million.

Several other equities analysts have also recently issued reports on INSM. HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of Insmed in a research note on Friday. Truist Financial raised their target price on shares of Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Company upped their price objective on Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday. Stifel Nicolaus lowered their target price on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Morgan Stanley upped their price target on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $91.00.

Insmed Trading Down 3.0 %

Insmed stock opened at $81.06 on Friday. Insmed has a one year low of $21.92 and a one year high of $84.91. The business’s fifty day moving average is $74.29 and its 200 day moving average is $73.59. The stock has a market capitalization of $14.50 billion, a PE ratio of -14.61 and a beta of 1.11. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insider Buying and Selling at Insmed

In other Insmed news, CEO William Lewis sold 18,750 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $81.03, for a total transaction of $1,519,312.50. Following the completion of the transaction, the chief executive officer now owns 334,186 shares in the company, valued at $27,079,091.58. This trade represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sara Bonstein sold 3,470 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $65.70, for a total transaction of $227,979.00. Following the completion of the sale, the chief financial officer now owns 114,736 shares in the company, valued at approximately $7,538,155.20. This trade represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 532,207 shares of company stock worth $41,400,465 in the last quarter. 4.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Insmed

Several large investors have recently added to or reduced their stakes in the stock. Elequin Capital LP bought a new stake in shares of Insmed in the 4th quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC raised its holdings in Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 163 shares during the period. V Square Quantitative Management LLC lifted its position in Insmed by 60.3% in the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 248 shares during the last quarter. Spire Wealth Management purchased a new position in Insmed during the fourth quarter worth $47,000. Finally, Exchange Traded Concepts LLC increased its position in Insmed by 522.5% during the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 627 shares during the last quarter.

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.