Insmed FY2024 EPS Estimate Increased by Cantor Fitzgerald

Insmed Incorporated (NASDAQ:INSM) – Cantor Fitzgerald lifted their FY2024 earnings estimates for shares of Insmed in a research note issued on Wednesday, February 19th. Cantor Fitzgerald analyst J. Kim now anticipates that the biopharmaceutical company will post earnings of ($5.41) per share for the year, up from their prior 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.

INSM has been the subject of a number of other reports. Guggenheim lifted their price objective on shares of Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, February 7th. HC Wainwright restated a “buy” rating and set a $90.00 price target on shares of Insmed in a research report on Friday. Stifel Nicolaus decreased their price objective on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a report on Friday. Wells Fargo & Company upped their target price on Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Truist Financial increased their price target on shares of Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and a consensus target price of $91.00.

Insmed Trading Down 3.0 %

Shares of Insmed stock opened at $81.06 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. Insmed has a 1 year low of $21.92 and a 1 year high of $84.91. The firm has a market cap of $14.50 billion, a PE ratio of -14.61 and a beta of 1.11. The company has a 50 day simple moving average of $74.29 and a two-hundred day simple moving average of $73.59.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The company had revenue of $104.44 million during the quarter, compared to the consensus estimate of $102.31 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Elequin Capital LP bought a new stake in shares of Insmed during the fourth quarter valued at approximately $28,000. Steward Partners Investment Advisory LLC grew its position in shares of Insmed by 65.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 163 shares during the period. V Square Quantitative Management LLC grew its holdings 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 purchasing an additional 248 shares during the period. Spire Wealth Management purchased a new position in shares of Insmed during the fourth quarter valued at approximately $47,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of Insmed by 522.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 627 shares in the last quarter.

Insider Activity

In related news, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total transaction of $1,309,500.00. Following the completion of the transaction, the chief executive officer now owns 384,960 shares in the company, valued at $26,885,606.40. This represents a 4.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Martina M.D. Flammer sold 3,344 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total transaction of $220,403.04. Following the completion of the transaction, the insider now owns 102,766 shares of the company’s stock, valued at $6,773,307.06. This trade represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 532,207 shares of company stock valued at $41,400,465. 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.