Insmed (NASDAQ:INSM - Get Free Report) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.08), Briefing.com reports. The firm had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. The firm's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.10) earnings per share. Insmed updated its FY 2024 guidance to EPS.
Insmed Stock Performance
Shares of Insmed stock traded up $1.04 on Friday, hitting $68.32. The company had a trading volume of 1,617,227 shares, compared to its average volume of 1,096,821. The stock has a 50-day moving average of $73.03 and a 200-day moving average of $61.26. The company has a quick ratio of 2.53, a current ratio of 2.71 and a debt-to-equity ratio of 25.05. Insmed has a twelve month low of $21.92 and a twelve month high of $80.53.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on INSM shares. Stifel Nicolaus upped their target price 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. Morgan Stanley raised their price objective on shares of Insmed from $60.00 to $85.00 and gave the company an "overweight" rating in a research note on Friday, July 12th. Bank of America lifted their target price on shares of Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on Insmed from $72.00 to $74.00 and gave the company an "overweight" rating in a research note on Thursday, October 3rd. Finally, Guggenheim raised their price target on Insmed from $70.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Insmed currently has a consensus rating of "Moderate Buy" and an average target price of $83.07.
Get Our Latest Stock Report on Insmed
Insider Buying and Selling
In related news, insider Martina M.D. Flammer sold 13,436 shares of the company's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the transaction, the insider now directly owns 106,134 shares of the company's stock, valued at approximately $7,951,559.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the sale, the insider now owns 106,134 shares of the company's stock, valued at approximately $7,951,559.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the transaction, the insider now directly owns 67,856 shares of the company's stock, valued at approximately $5,045,093.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,882 shares of company stock worth $5,765,446 over the last ninety days. Company insiders own 4.60% of the company's stock.
About Insmed
(
Get Free Report)
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.
See Also
Before you consider Insmed, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Insmed wasn't on the list.
While Insmed currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
