Cantor Fitzgerald comments on Insmed Incorporated’s earnings for fiscal 2022 (NASDAQ: INSM)
Insmed Incorporated (NASDAQ: INSM) – Cantor Fitzgerald stock researchers lowered their 2022 earnings per share estimates for Insmed stocks in a research report released on Tuesday, December 21. Cantor Fitzgerald analyst J. Kim now expects the biopharmaceutical company to post earnings of ($ 3.03) per share for the year, down from its previous estimate of ($ 2.61). Cantor Fitzgerald currently has an “overweight” rating and a target price of $ 60.00 on the stock. Insmed (NASDAQ: INSM) last released its quarterly earnings data on Thursday, October 28. The biopharmaceutical company reported ($ 0.96) earnings per share (EPS) for the quarter, missing the Thomson Reuters consensus estimate of ($ 0.83) per ($ 0.13). The company posted revenue of $ 46.80 million in the quarter, compared to analysts’ estimates of $ 49.23 million. Insmed had a negative net margin of 243.96% and a negative return on equity of 108.34%. The company’s quarterly revenue is up 6.8% from the same quarter last year. During the same period last year, the company earned EPS ($ 0.63).
The INSM has been the subject of several other reports. Zacks Investment Research upgraded Insmed from a “sell” rating to a “conservation” rating in a report released on Tuesday, November 23. JPMorgan Chase & Co. began covering Insmed in a report on Monday, December 6. They set an “overweight” rating and a target price of $ 45 for the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a target price of $ 52.00 for Insmed shares in a report released on Friday, October 8. One investment analyst rated the stock with a conservation rating and six issued a buy rating for the company. According to MarketBeat, Insmed has a consensus rating of “Buy” and a consensus target price of $ 51.29.
Insmed stock opened at $ 28.28 on Friday. The company has a market cap of $ 3.35 billion, a price-to-earnings ratio of -7.21 and a beta of 2.19. Insmed has a minimum of $ 22.00 over 52 weeks and a maximum of $ 45.44 over 52 weeks. The company’s 50-day average mobile price is $ 28.91, and its 200-day average mobile price is $ 27.61. The company has a rapid ratio of 7.92, a current ratio of 8.52 and a debt ratio of 1.13.
In addition, director David R. Brennan acquired 10,000 shares of Insmed in a transaction that took place on Monday, November 1. The shares were purchased at an average price of $ 30.15 per share, for a total transaction of $ 301,500.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, accessible through this link. In addition, insider Orlov S. Nicole Schaeffer sold 61,000 shares of Insmed in a trade that took place on Monday, November 1. The stock was sold for an average price of $ 30.28, for a total value of $ 1,847,080.00. Disclosure of this sale can be found here. Company insiders own 4.63% of the company’s shares.
A number of institutional investors have recently changed their positions in the stock. Price T Rowe Associates Inc. MD increased its position in Insmed by 27.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 14,372,685 shares of the biopharmaceutical company valued at $ 409,047,000 after purchasing an additional 3,070,140 shares during the last quarter. Vanguard Group Inc. increased its position in Insmed by 9.9% in the second quarter. Vanguard Group Inc. now owns 10,646,706 shares of the biopharmaceutical company valued at $ 303,004,000 after purchasing an additional 961,181 shares during the period. Janus Henderson Group PLC increased its position in Insmed by 0.5% in the third quarter. Janus Henderson Group PLC now owns 7,987,899 shares of the biopharmaceutical company valued at $ 219,985,000 after purchasing an additional 35,898 shares during the period. Palo Alto Investors LP increased its position in Insmed by 3.3% in the second quarter. Palo Alto Investors LP now owns 6,019,106 shares of the biopharmaceutical company valued at $ 171,304,000 after purchasing an additional 194,599 shares during the period. Finally, William Blair Investment Management LLC strengthened its position in Insmed by 33.5% in the second quarter. William Blair Investment Management LLC now owns 5,026,184 shares of the biopharmaceutical company valued at $ 143,045,000 after purchasing an additional 1,261,948 shares during the period.
Insmed Incorporated is a global biopharmaceutical company with 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 regimen Combined antibacterial agent for adult patients with little or no alternative treatment. option.
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