FY2024 EPS Estimates for Insmed Lifted by Cantor Fitzgerald

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

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.15).

A number of other brokerages also recently issued reports on INSM. Wells Fargo & Company increased their price objective on Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price target on shares of Insmed in a report on Friday, November 1st. Morgan Stanley boosted their price objective on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Guggenheim raised their target price on shares of Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Stifel Nicolaus lifted their target price on shares of Insmed from $88.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Insmed currently has an average rating of “Moderate Buy” and a consensus price target of $90.86.

Insmed Stock Performance

Insmed stock opened at $83.61 on Friday. The firm’s 50 day simple moving average is $74.11 and its 200 day simple moving average is $73.52. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed has a 1-year low of $21.92 and a 1-year high of $84.28.

Institutional Investors Weigh In On Insmed

Several institutional investors and hedge funds have recently bought and sold shares of INSM. Mackenzie Financial Corp raised its holdings in shares of Insmed by 12.5% during the fourth quarter. Mackenzie Financial Corp now owns 10,883 shares of the biopharmaceutical company’s stock valued at $751,000 after acquiring an additional 1,213 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Insmed during the 4th quarter valued at $259,000. Fourth Dimension Wealth LLC bought a new position in Insmed in the 4th quarter worth $278,000. Vise Technologies Inc. lifted its position in shares of Insmed by 6.3% in the 4th quarter. Vise Technologies Inc. now owns 5,634 shares of the biopharmaceutical company’s stock worth $389,000 after purchasing an additional 336 shares during the period. Finally, Castleark Management LLC boosted its stake in shares of Insmed by 21.9% during the 4th quarter. Castleark Management LLC now owns 52,780 shares of the biopharmaceutical company’s stock valued at $3,644,000 after purchasing an additional 9,480 shares in the last quarter.

Insider Activity

In other news, CFO Sara Bonstein sold 3,470 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $65.70, for a total transaction of $227,979.00. Following the completion of the sale, the chief financial officer now directly owns 114,736 shares in the company, valued at approximately $7,538,155.20. This represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total value of $1,309,500.00. Following the completion of the sale, the chief executive officer now directly owns 384,960 shares in the company, valued at $26,885,606.40. The trade was a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 532,207 shares of company stock valued at $41,400,465. 4.60% of the stock is currently owned by insiders.

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.