-$0.63 EPS Expected for Insmed, Inc. (NASDAQ:INSM) This Quarter
Wall Street analysts forecast that Insmed, Inc. (NASDAQ:INSM) will post earnings per share of ($0.63) for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Insmed’s earnings, with the lowest EPS estimate coming in at ($0.65) and the highest estimate coming in at ($0.61). Insmed reported earnings of ($0.59) per share during the same quarter last year, which indicates a negative year over year growth rate of 6.8%. The firm is scheduled to issue its next quarterly earnings report on Thursday, August 3rd.
On average, analysts expect that Insmed will report full-year earnings of ($2.46) per share for the current financial year, with EPS estimates ranging from ($2.64) to ($2.33). For the next fiscal year, analysts anticipate that the company will report earnings of ($2.09) per share, with EPS estimates ranging from ($2.61) to ($1.06). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Insmed.
Insmed (NASDAQ:INSM) last released its earnings results on Wednesday, May 3rd. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.60).
A number of research firms recently weighed in on INSM. Zacks Investment Research upgraded Insmed from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Wednesday, July 5th. Stifel Nicolaus increased their price target on Insmed from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, May 1st. Citigroup Inc. reiterated a “neutral” rating and issued a $17.00 price target (up previously from $14.00) on shares of Insmed in a research report on Sunday, June 11th. Robert W. Baird began coverage on Insmed in a research report on Monday, July 10th. They issued an “outperform” rating and a $23.00 price target for the company. Finally, ValuEngine upgraded Insmed from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $22.00.
Insmed (NASDAQ INSM) opened at 17.23 on Wednesday. The firm has a 50-day moving average of $16.71 and a 200-day moving average of $16.41. The stock’s market capitalization is $1.07 billion. Insmed has a 12-month low of $10.21 and a 12-month high of $19.35.
In other Insmed news, General Counsel Christine A. Pellizzari acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was purchased at an average cost of $15.14 per share, for a total transaction of $151,400.00. Following the transaction, the general counsel now owns 27,300 shares of the company’s stock, valued at approximately $413,322. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.10% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its stake in shares of Insmed by 3.8% in the first quarter. Goldman Sachs Group Inc. now owns 289,884 shares of the biopharmaceutical company’s stock worth $5,076,000 after buying an additional 10,519 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Insmed during the first quarter worth approximately $876,000. Driehaus Capital Management LLC acquired a new stake in shares of Insmed during the first quarter worth approximately $192,000. Credit Suisse AG raised its stake in shares of Insmed by 12.6% in the first quarter. Credit Suisse AG now owns 72,399 shares of the biopharmaceutical company’s stock worth $1,268,000 after buying an additional 8,089 shares during the last quarter. Finally, Palo Alto Investors LLC raised its stake in shares of Insmed by 1.6% in the first quarter. Palo Alto Investors LLC now owns 5,534,150 shares of the biopharmaceutical company’s stock worth $96,903,000 after buying an additional 87,634 shares during the last quarter. Hedge funds and other institutional investors own 92.00% of the company’s stock.
Insmed Company Profile
Insmed Incorporated is a biopharmaceutical company. The Company operates through development and commercialization of therapies for patients with rare diseases segment. Its lead product candidate is ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for adult patients with treatment refractory nontuberculous mycobacteria (NTM) lung disease caused by Mycobacterium avium complex (MAC).
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