Reading the tape
NASDAQ: INSM
Insmed Incorporated
Healthcare · Biotechnology
Market Cap
$30.22B
52w High
$212.75
52w Low
$63.81
P/E
-23.43
Volume
1.85M
Outstanding Shares
215.85M
Price vs Fundamentals
Why The Stock Is Moving
Optimism is getting priced inModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: 92.9%Revenue (TTM): 66.73%FCF (TTM): -41.34%P/S: 89th pct
What changed
The stock rose 92.9% over the last year. Revenue grew 66.73% over the trailing twelve months. Operating margin moved from -241.47% to -194.04%. Free cash flow declined 41.34% over the trailing twelve months.
What the market seems to be pricing
The stock is trading toward the richer end of its historical P/S range (89th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.
What would invalidate this read
Operating margin is at -194.04% — continued expansion would be needed to justify the premium. Revenue growth of 66.73% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.
Company profile
Insmed Incorporated, a biopharmaceutical company, develops and commercializes therapies for patients with serious and rare diseases.
CEOWilliam H. Lewis
SectorHealthcare
IndustryBiotechnology
Employees1,271
IPO dateJun 1, 2000
Valuation
Forward P/E—
EV/EBITDA-31.96
Enterprise value$37.44B
Stock splits
Mar 3, 2011↓ Reverse
Every 10 shares became 1
Jul 31, 2000↓ Reverse
Every 4 shares became 1
Profitability & growth
Revenue growth152.62%
Gross margin79.41%▲3.90%vs FY2024
Operating margin-194.04%▲19.64%vs FY2024
ROE-172.78%▲46.04%vs FY2024
Analyst consensus
RatingBuy
Target price$217.11▲55.07%
33
Buy
1
Hold
1
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 7, 2026
Q2 FY26 · EPS est -$0.97 · Revenue est $299.05M
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