Zacks: Brokerages Expect Insmed Incorporated (INSM) to Post -$1.05 EPS

Wall Street analysts expect Insmed Incorporated (NASDAQ:INSM) to report earnings per share of ($1.05) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Insmed’s earnings. The lowest EPS estimate is ($1.08) and the highest is ($1.02). Insmed reported earnings per share of ($0.69) in the same quarter last year, which would suggest a negative year over year growth rate of 52.2%. The firm is expected to report its next earnings report on Thursday, November 1st.

According to Zacks, analysts expect that Insmed will report full year earnings of ($4.06) per share for the current financial year, with EPS estimates ranging from ($4.20) to ($3.89). For the next financial year, analysts anticipate that the company will report earnings of ($3.06) per share, with EPS estimates ranging from ($3.93) to ($2.20). Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Insmed.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($1.00) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.08) by $0.08.

Several research firms recently weighed in on INSM. BidaskClub raised Insmed from a “hold” rating to a “buy” rating in a research note on Thursday, May 31st. Zacks Investment Research upgraded Insmed from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Wednesday, July 4th. Goldman Sachs Group initiated coverage on Insmed in a research note on Monday, July 23rd. They issued a “neutral” rating and a $32.00 target price for the company. Morgan Stanley lifted their target price on Insmed from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Monday, August 6th. Finally, JMP Securities downgraded Insmed from an “outperform” rating to a “market perform” rating in a research note on Monday, August 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $37.43.

NASDAQ INSM opened at $22.49 on Friday. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -7.78 and a beta of 1.31. The company has a current ratio of 14.14, a quick ratio of 14.14 and a debt-to-equity ratio of 0.83. Insmed has a fifty-two week low of $18.64 and a fifty-two week high of $33.94.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Palo Alto Investors LP lifted its position in Insmed by 11.8% in the first quarter. Palo Alto Investors LP now owns 7,159,590 shares of the biopharmaceutical company’s stock worth $161,234,000 after purchasing an additional 755,004 shares during the period. Voya Investment Management LLC increased its holdings in shares of Insmed by 31.9% in the second quarter. Voya Investment Management LLC now owns 1,053,468 shares of the biopharmaceutical company’s stock valued at $24,914,000 after buying an additional 254,853 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Insmed by 3.1% in the second quarter. Northern Trust Corp now owns 987,228 shares of the biopharmaceutical company’s stock valued at $23,348,000 after buying an additional 30,064 shares in the last quarter. Foresite Capital Management II LLC increased its holdings in shares of Insmed by 86.6% in the first quarter. Foresite Capital Management II LLC now owns 967,636 shares of the biopharmaceutical company’s stock valued at $21,791,000 after buying an additional 448,991 shares in the last quarter. Finally, Nexthera Capital LP increased its holdings in shares of Insmed by 84.1% in the first quarter. Nexthera Capital LP now owns 918,523 shares of the biopharmaceutical company’s stock valued at $20,685,000 after buying an additional 419,602 shares in the last quarter.

About Insmed

Insmed Incorporated, a biopharmaceutical company, focuses on the development and commercialization of therapies for patients with rare diseases. The company's lead product candidate is amikacin liposome inhalation suspension, which is in late-state development for adult patients with treatment refractory nontuberculous mycobacteria lung disease caused by mycobacterium avium complex.

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