Zacks: Analysts Anticipate Insmed Incorporated (NASDAQ:INSM) Will Post Quarterly Sales of $43.43 Million

Wall Street analysts predict that Insmed Incorporated (NASDAQ:INSM) will announce sales of $43.43 million for the current quarter, according to Zacks. Four analysts have made estimates for Insmed’s earnings, with the highest sales estimate coming in at $45.97 million and the lowest estimate coming in at $41.01 million. Insmed posted sales of $42.50 million in the same quarter last year, which suggests a positive year over year growth rate of 2.2%. The company is expected to issue its next earnings results on Thursday, August 5th.

On average, analysts expect that Insmed will report full-year sales of $194.10 million for the current financial year, with estimates ranging from $177.33 million to $205.67 million. For the next fiscal year, analysts forecast that the business will report sales of $312.59 million, with estimates ranging from $265.30 million to $373.51 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Insmed.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, May 6th. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.91) by $0.02. The business had revenue of $40.21 million for the quarter, compared to the consensus estimate of $41.64 million. Insmed had a negative return on equity of 103.03% and a negative net margin of 190.36%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.74) EPS.

Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Insmed from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Thursday, July 8th. Morgan Stanley decreased their price objective on Insmed from $58.00 to $56.00 and set an “overweight” rating for the company in a report on Monday, May 10th. Seven research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $50.57.

Insmed stock opened at $26.02 on Thursday. The company has a current ratio of 6.16, a quick ratio of 5.52 and a debt-to-equity ratio of 1.86. The company’s 50-day moving average price is $27.21. The stock has a market cap of $2.69 billion, a P/E ratio of -8.23 and a beta of 2.26. Insmed has a fifty-two week low of $23.95 and a fifty-two week high of $45.44.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INSM. Eaton Vance Management acquired a new position in Insmed in the 1st quarter worth about $36,000. Penserra Capital Management LLC raised its holdings in Insmed by 169.6% in the 4th quarter. Penserra Capital Management LLC now owns 2,335 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 1,469 shares during the period. Meeder Asset Management Inc. acquired a new position in Insmed in the 1st quarter worth about $83,000. E Fund Management Co. Ltd. acquired a new position in Insmed in the 1st quarter worth about $121,000. Finally, Truist Financial Corp acquired a new position in Insmed in the 4th quarter worth about $261,000.

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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