Wall Street brokerages forecast that Insmed, Inc. (NASDAQ:INSM) will post earnings of ($0.66) per share for the current quarter, Zacks reports. Zero analysts have made estimates for Insmed’s earnings. The lowest EPS estimate is ($0.70) and the highest is ($0.59). Insmed reported earnings of ($1.10) per share in the same quarter last year, which indicates a positive year over year growth rate of 40%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 22nd.
According to Zacks, analysts expect that Insmed will report full-year earnings of ($2.69) per share for the current financial year, with EPS estimates ranging from ($2.78) to ($2.59). For the next year, analysts forecast that the firm will report earnings of ($2.46) per share, with EPS estimates ranging from ($3.60) to ($1.23). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Insmed.
Several research firms recently issued reports on INSM. BidaskClub cut Insmed from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Cowen restated a “buy” rating and set a $54.00 price target on shares of Insmed in a report on Friday, November 3rd. ValuEngine upgraded Insmed from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of Insmed in a report on Wednesday, September 6th. Finally, Leerink Swann raised their price target on Insmed from $27.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Insmed currently has a consensus rating of “Hold” and a consensus target price of $34.50.
Insmed (NASDAQ INSM) traded up $0.79 during trading hours on Monday, hitting $28.87. The company had a trading volume of 574,045 shares, compared to its average volume of 685,402. The company has a debt-to-equity ratio of 0.13, a current ratio of 15.21 and a quick ratio of 15.21. Insmed has a 12-month low of $11.49 and a 12-month high of $32.94.
In other Insmed news, Director Donald J. Hayden, Jr. sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $32.50, for a total transaction of $487,500.00. Following the completion of the transaction, the director now owns 71,131 shares of the company’s stock, valued at $2,311,757.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.03% of the company’s stock.
Several hedge funds have recently bought and sold shares of INSM. Parametric Portfolio Associates LLC grew its position in shares of Insmed by 39.2% in the first quarter. Parametric Portfolio Associates LLC now owns 14,417 shares of the biopharmaceutical company’s stock valued at $252,000 after purchasing an additional 4,063 shares in the last quarter. Vanguard Group Inc. grew its position in Insmed by 4.8% in the first quarter. Vanguard Group Inc. now owns 3,781,483 shares of the biopharmaceutical company’s stock worth $66,214,000 after acquiring an additional 173,532 shares during the period. Schwab Charles Investment Management Inc. grew its position in Insmed by 6.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 283,167 shares of the biopharmaceutical company’s stock worth $4,959,000 after acquiring an additional 18,331 shares during the period. Bank of America Corp DE grew its position in Insmed by 191.4% in the first quarter. Bank of America Corp DE now owns 33,804 shares of the biopharmaceutical company’s stock worth $592,000 after acquiring an additional 22,204 shares during the period. Finally, State Street Corp grew its position in Insmed by 4.8% in the first quarter. State Street Corp now owns 1,499,611 shares of the biopharmaceutical company’s stock worth $26,259,000 after acquiring an additional 68,319 shares during the period. Institutional investors and hedge funds own 95.29% of the company’s stock.
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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