FY2024 EPS Estimates for Insmed Incorporated (NASDAQ:INSM) Lowered by Analyst

Insmed Incorporated (NASDAQ:INSM - Free Report) - Stock analysts at Cantor Fitzgerald reduced their FY2024 EPS estimates for shares of Insmed in a research note issued to investors on Wednesday, August 28th. Cantor Fitzgerald analyst J. Kim now forecasts that the biopharmaceutical company will post earnings of ($5.54) per share for the year, down from their previous forecast of ($4.59). Cantor Fitzgerald has a "Overweight" rating on the stock. The consensus estimate for Insmed's current full-year earnings is ($4.71) per share.

Other research analysts have also recently issued research reports about the stock. Truist Financial lowered their price target on shares of Insmed from $88.00 to $85.00 and set a "buy" rating on the stock in a research report on Monday, August 12th. Stifel Nicolaus boosted their price target on shares of Insmed from $74.00 to $88.00 and gave the company a "buy" rating in a research report on Friday, August 9th. StockNews.com cut shares of Insmed from a "hold" rating to a "sell" rating in a research report on Friday, August 9th. TD Cowen boosted their price objective on shares of Insmed from $75.00 to $98.00 and gave the company a "buy" rating in a report on Friday, August 9th. Finally, Barclays boosted their price objective on shares of Insmed from $40.00 to $63.00 and gave the company an "overweight" rating in a report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to MarketBeat, Insmed has a consensus rating of "Moderate Buy" and an average price target of $79.19.

Insmed Stock Performance

Shares of INSM stock traded up $0.14 on Friday, hitting $76.47. 1,721,936 shares of the stock traded hands, compared to its average volume of 2,483,414. The firm's 50-day moving average price is $73.30 and its two-hundred day moving average price is $47.16. The stock has a market capitalization of $11.36 billion, a PE ratio of -14.62 and a beta of 1.16. Insmed has a twelve month low of $21.65 and a twelve month high of $80.53.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The business had revenue of $90.34 million for the quarter, compared to the consensus estimate of $87.95 million. The firm's revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.78) earnings per share.

Institutional Trading of Insmed

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Insmed by 2.7% during the first quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company's stock worth $393,636,000 after purchasing an additional 383,714 shares during the period. Darwin Global Management Ltd. purchased a new stake in Insmed during the second quarter worth about $237,076,000. Principal Financial Group Inc. increased its stake in Insmed by 15.2% during the second quarter. Principal Financial Group Inc. now owns 1,657,760 shares of the biopharmaceutical company's stock worth $111,069,000 after purchasing an additional 218,480 shares during the period. Clearbridge Investments LLC grew its position in shares of Insmed by 76.8% during the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company's stock worth $110,212,000 after buying an additional 714,539 shares in the last quarter. Finally, Capital International Investors acquired a new position in shares of Insmed during the first quarter worth about $43,973,000.

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.