$34.46 Million in Sales Expected for Insmed Incorporated (NASDAQ:INSM) This Quarter

Equities research analysts forecast that Insmed Incorporated (NASDAQ:INSM) will announce $34.46 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Insmed’s earnings, with the lowest sales estimate coming in at $30.49 million and the highest estimate coming in at $39.20 million. Insmed posted sales of $29.97 million during the same quarter last year, which indicates a positive year over year growth rate of 15%. The firm is expected to issue its next earnings results on Thursday, August 6th.

On average, analysts expect that Insmed will report full year sales of $153.08 million for the current fiscal year, with estimates ranging from $144.38 million to $161.67 million. For the next fiscal year, analysts forecast that the firm will post sales of $273.55 million, with estimates ranging from $196.78 million to $455.21 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Insmed.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.02). Insmed had a negative net margin of 162.82% and a negative return on equity of 87.35%. The business had revenue of $36.90 million for the quarter, compared to the consensus estimate of $34.81 million. During the same quarter in the prior year, the business posted ($0.96) EPS. The firm’s revenue for the quarter was up 68.5% compared to the same quarter last year.

Several analysts have issued reports on INSM shares. Zacks Investment Research lowered shares of Insmed from a “buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Credit Suisse Group decreased their price target on shares of Insmed from $49.00 to $42.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 17th. Stifel Nicolaus decreased their price target on shares of Insmed from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Morgan Stanley decreased their target price on shares of Insmed from $50.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Finally, HC Wainwright reiterated a “buy” rating and set a $52.00 target price on shares of Insmed in a research report on Thursday. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Insmed currently has a consensus rating of “Buy” and a consensus target price of $40.44.

A number of hedge funds have recently made changes to their positions in INSM. NumerixS Investment Technologies Inc bought a new position in shares of Insmed in the fourth quarter worth about $43,000. Sowell Financial Services LLC bought a new position in shares of Insmed in the fourth quarter worth about $64,000. SG Americas Securities LLC bought a new position in shares of Insmed in the fourth quarter worth about $102,000. Great West Life Assurance Co. Can bought a new position in shares of Insmed in the fourth quarter worth about $133,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Insmed by 16.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,771 shares of the biopharmaceutical company’s stock worth $109,000 after acquiring an additional 953 shares during the last quarter. 95.51% of the stock is owned by hedge funds and other institutional investors.

NASDAQ INSM traded down $1.13 during midday trading on Monday, hitting $26.01. The company had a trading volume of 2,642,330 shares, compared to its average volume of 1,049,185. The company has a quick ratio of 6.46, a current ratio of 6.89 and a debt-to-equity ratio of 1.74. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of -9.22 and a beta of 2.72. The firm has a fifty day simple moving average of $26.14 and a two-hundred day simple moving average of $23.59. Insmed has a fifty-two week low of $12.09 and a fifty-two week high of $34.94.

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.

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Earnings History and Estimates for Insmed (NASDAQ:INSM)

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