Insmed (NASDAQ:INSM) Posts Earnings Results, Misses Estimates By $0.47 EPS

Insmed (NASDAQ:INSM) released its earnings results on Thursday. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.47), FiscalAI reports. Insmed had a negative return on equity of 183.55% and a negative net margin of 264.83%.The firm had revenue of $263.84 million during the quarter, compared to analysts’ expectations of $263.97 million. During the same period in the prior year, the company posted ($1.32) earnings per share. The company’s revenue was up 152.6% compared to the same quarter last year.

Here are the key takeaways from Insmed’s conference call:

• Insmed reports BRINSUPRI net revenue of $144.6 million in its first full quarter and is guiding to at least $1 billion in 2026, expecting company revenue to more than double versus 2025 and projecting cash‑flow positivity without needing additional capital.
• Management estimates a U.S. diagnosed non‑CF bronchiectasis population of 500,000 (≈250,000 with ≥2 exacerbations) and notes only ~11,550 BRINSUPRI starts in 2025 (<5% penetration), with substantial upside from COPD/asthma patients they are actively screening.
• Payer access is described as favorable—>90% of targeted lives have coverage via policy or medical exception—and 2026 gross‑to‑net guidance for BRINSUPRI is mid‑20s to low‑30s while ARIKAYCE GTN is expected in the low‑ to mid‑20s.
• ARIKAYCE delivered strong international growth in 2025 (Japan +40%) and the Phase III ENCORE readout is expected in March/April 2026; a positive ENCORE could expand ARIKAYCE’s addressable market from ~30,000 to >200,000 patients.
• Insmed ended 2025 with approximately $1.4 billion in cash (Q4 included ~ $70M of one‑time items) and says it has a path to cash‑flow positivity on current plans but may opportunistically raise capital to fund business development or pipeline expansion.

Insmed Price Performance

NASDAQ INSM traded down $0.37 during trading on Friday, hitting $160.63. 743,991 shares of the stock traded hands, compared to its average volume of 2,499,356. The company has a quick ratio of 4.34, a current ratio of 4.63 and a debt-to-equity ratio of 0.59. Insmed has a 12-month low of $60.40 and a 12-month high of $212.75. The firm has a 50-day simple moving average of $165.77 and a 200-day simple moving average of $162.79. The company has a market capitalization of $34.26 billion, a P/E ratio of -25.90 and a beta of 1.11.

Insmed News Roundup

Here are the key news stories impacting Insmed this week:

• Positive Sentiment: Management set an upbeat 2026 commercial outlook — expects BRINSUPRI revenue to be at least $1 billion and reiterated ARIKAYCE revenue guidance of $450M–$470M; this underpins the stock’s upside reaction. PR Newswire: Press Release
• Positive Sentiment: Topline momentum: total company revenue for 2025 was $606.4M, with BRINSUPRI and ARIKAYCE contributing meaningful growth (BRINSUPRI Q4 $144.6M; ARIKAYCE full-year $433.8M), showing commercial traction. PR Newswire: Revenue Details
• Positive Sentiment: Balance sheet and pipeline supports optionality — ~ $1.4B in cash and equivalents at year‑end, Phase 3 ENCORE and Phase 2b CEDAR readouts remain on track, and an Orphan Drug designation was granted for treprostinil palmitil. PR Newswire: Cash & Pipeline
• Neutral Sentiment: Earnings commentary and materials are available — the company posted a slide deck and Q4 earnings call transcript for investors to review. Slide Deck Earnings Call Transcript
• Neutral Sentiment: Short-interest data reported an anomalous/zero figure for mid‑February (likely a data or reporting quirk) and does not appear to explain intraday moves. (Data showed 0 shares / 0.0 days.)
• Negative Sentiment: EPS disappointment and weak profitability: Q4 GAAP loss was ($1.54) vs. consensus (loss $1.07), a larger-than-expected loss; company reported very negative net margins and return on equity, which keeps near‑term earnings prospects uncertain. Zacks: Earnings Miss
• Negative Sentiment: Analyst/forecast risk: some coverage notes focus on execution risk for the ambitious Brinsupri target and product sustainment questions — if growth falls short, downside risk remains. Yahoo Finance: Analyst Discussion

Insider Activity

In related news, CEO William Lewis sold 19,215 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $169.00, for a total value of $3,247,335.00. Following the sale, the chief executive officer owned 306,891 shares in the company, valued at approximately $51,864,579. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 87,290 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $175.20, for a total transaction of $15,293,208.00. Following the transaction, the insider owned 41,754 shares of the company’s stock, valued at $7,315,300.80. This trade represents a 67.64% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 173,253 shares of company stock worth $29,629,842. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Insmed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Compound Planning Inc. boosted its holdings in shares of Insmed by 16.5% in the 4th quarter. Compound Planning Inc. now owns 27,651 shares of the biopharmaceutical company’s stock worth $4,812,000 after purchasing an additional 3,912 shares during the period. Invesco Ltd. lifted its position in Insmed by 36.1% in the fourth quarter. Invesco Ltd. now owns 2,726,857 shares of the biopharmaceutical company’s stock worth $474,582,000 after buying an additional 722,986 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Insmed by 58.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,567 shares of the biopharmaceutical company’s stock worth $969,000 after buying an additional 2,045 shares during the period. Raymond James Financial Inc. boosted its stake in Insmed by 2.5% during the fourth quarter. Raymond James Financial Inc. now owns 779,254 shares of the biopharmaceutical company’s stock worth $135,650,000 after buying an additional 19,276 shares during the period. Finally, Mackenzie Financial Corp increased its position in Insmed by 28.5% during the fourth quarter. Mackenzie Financial Corp now owns 21,620 shares of the biopharmaceutical company’s stock valued at $3,756,000 after acquiring an additional 4,801 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Truist Financial set a $205.00 price objective on shares of Insmed in a research note on Monday, January 12th. Barclays began coverage on shares of Insmed in a report on Tuesday, January 27th. They issued an “overweight” rating and a $231.00 target price for the company. Leerink Partners reissued an “outperform” rating on shares of Insmed in a report on Thursday, December 18th. Guggenheim lowered their price objective on Insmed from $230.00 to $221.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. Finally, Mizuho set a $211.00 price objective on Insmed in a research note on Thursday. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $207.67.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.