Insmed (NASDAQ:INSM) Issues Earnings Results

Insmed (NASDAQ:INSM) announced its quarterly earnings results on Thursday. The biopharmaceutical company reported ($1.54) 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 for the quarter, compared to analyst estimates of $263.97 million. During the same quarter in the prior year, the company earned ($1.32) earnings per share. The business’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 Stock Performance

Shares of NASDAQ INSM traded up $7.00 during midday trading on Thursday, hitting $158.11. The company’s stock had a trading volume of 2,284,835 shares, compared to its average volume of 2,484,284. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.34 and a current ratio of 4.63. Insmed has a 1-year low of $60.40 and a 1-year high of $212.75. The firm’s fifty day moving average price is $166.45 and its 200-day moving average price is $162.80. The firm has a market cap of $33.72 billion, a P/E ratio of -25.51 and a beta of 1.11.

Insiders Place Their Bets

In other Insmed news, CEO William Lewis sold 19,215 shares of Insmed stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $169.00, for a total value of $3,247,335.00. Following the completion of the transaction, the chief executive officer directly owned 306,891 shares in the company, valued at $51,864,579. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Elizabeth M. Anderson sold 5,000 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $204.58, for a total value of $1,022,900.00. Following the transaction, the director owned 58,729 shares of the company’s stock, valued at approximately $12,014,778.82. The trade was a 7.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 173,253 shares of company stock valued at $29,629,842 over the last quarter. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of INSM. Rossby Financial LCC increased its position in shares of Insmed by 240.4% during the 4th quarter. Rossby Financial LCC now owns 1,028 shares of the biopharmaceutical company’s stock valued at $179,000 after purchasing an additional 726 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Insmed by 256.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 638 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 459 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Insmed during the fourth quarter valued at about $112,000. Northwestern Mutual Wealth Management Co. grew its holdings in Insmed by 277.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 430 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 316 shares during the period. Finally, PharVision Advisers LLC bought a new stake in Insmed in the third quarter worth about $202,000.

More Insmed News

Here are the key news stories impacting Insmed this week:

• Positive Sentiment: Company projects BRINSUPRI (brensocatib) revenues of at least $1 billion for full‑year 2026 and reported strong BRINSUPRI sales (Q4 and FY figures), which supports a blockbuster growth story and drove optimism. The company also reiterated ARIKAYCE 2026 revenue guidance of $450M–$470M. Insmed Reports Fourth-Quarter and Full-Year 2025 Financial Results and Provides Business Update
• Positive Sentiment: CEO commentary and analyst re‑framing emphasize BRINSUPRI’s “audacious” $1B target and upcoming clinical milestones (ENCORE, CEDAR), which is shifting investor focus from near‑term losses to 2026 commercial upside. Insmed CEO explains ‘audacious’ $1B projection for 2026 sales of Brinsupri
• Neutral Sentiment: Revenue for the quarter was essentially in line with estimates (~$263.8M) and full‑year 2025 total revenue was $606.4M; the company ended 2025 with about $1.4B in cash, which provides runway to execute the 2026 commercial plan. Insmed Reports Fourth-Quarter and Full-Year 2025 Financial Results and Provides Business Update
• Negative Sentiment: EPS missed materially: Q4 loss was ($1.54) vs. consensus of ($1.07), widening the per‑share loss year‑over‑year and reflecting large negative margins and ROE, which highlights near‑term profitability risk and explains some analyst caution. Insmed earnings missed by $0.37, revenue topped estimates
• Negative Sentiment: Analyst notes and coverage (Zacks, others) highlight the larger loss and the need for BRINSUPRI to sustain its early momentum; upcoming clinical readouts and the company’s ability to hit the $1B target are key execution risks. Insmed (INSM) Reports Q4 Earnings: What Key Metrics Have to Say

Analysts Set New Price Targets

Several research analysts recently commented on INSM shares. Weiss Ratings restated a “sell (d-)” rating on shares of Insmed in a report on Thursday, January 22nd. Barclays started coverage on shares of Insmed in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $231.00 target price on the stock. Citigroup reaffirmed an “outperform” rating on shares of Insmed in a research report on Thursday, December 18th. Mizuho set a $211.00 price objective on Insmed in a research report on Thursday. Finally, The Goldman Sachs Group boosted their price objective on Insmed from $225.00 to $258.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Insmed presently has a consensus rating of “Buy” and a consensus target price of $204.19.

Insmed Company Profile

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.