Insmed (NASDAQ:INSM) Posts Earnings Results, Beats Expectations By $0.16 EPS

Insmed (NASDAQ:INSM - Get Free Report) released its earnings results on Thursday. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.16, Briefing.com reports. The firm had revenue of $75.50 million during the quarter, compared to analysts' expectations of $77.76 million. During the same period last year, the business earned ($1.17) earnings per share. The business's revenue was up 15.8% on a year-over-year basis. Insmed updated its FY 2024 guidance to EPS.

Insmed Price Performance

Shares of NASDAQ:INSM traded down $0.41 during trading on Friday, reaching $25.97. The stock had a trading volume of 2,922,713 shares, compared to its average volume of 1,763,194. The stock has a market capitalization of $3.86 billion, a PE ratio of -4.86 and a beta of 0.93. Insmed has a 52 week low of $18.08 and a 52 week high of $32.00. The business's 50-day moving average price is $26.54 and its 200 day moving average price is $27.07.

Analyst Upgrades and Downgrades

INSM has been the subject of several recent analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $55.00 target price on shares of Insmed in a research report on Monday, April 1st. Barclays increased their price target on shares of Insmed from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Thursday, April 11th. Morgan Stanley increased their target price on shares of Insmed from $40.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday. UBS Group initiated coverage on Insmed in a report on Tuesday, February 27th. They set a "buy" rating and a $46.00 price objective for the company. Finally, StockNews.com downgraded Insmed from a "hold" rating to a "sell" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.08.

About Insmed

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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