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Insmed (INSM)

Health Care · Biotechnology · NASDAQ

Insmed is a biopharmaceutical company dedicated to transforming the lives of patients suffering from serious and rare respiratory and inflammatory diseases.

What Insmed does

Insmed Incorporated is a biopharmaceutical company focused on the development and commercialization of therapies for patients with serious and rare diseases. Its commercial portfolio includes treatments for chronic lung infections and other respiratory conditions, supported by a pipeline of clinical-stage product candidates.

Themes: rare disease therapies, respiratory medicine, inhaled drug delivery, orphan drugs

Fundamentals

  • Price$95.67 as of 2026-10-20 close
  • Market cap$20.9B as of 2026-07-31 (share count; price 2026-10-20)
  • 1-year return-43.0% 2025-10-20 close $167.91 → 2026-10-20 close $95.67
  • P/En/a negative earnings
  • Net margin-210.5% FY2025, SEC XBRL
  • ROE-172.8% FY2025, SEC XBRL
  • ROICn/a No figure: its pre-tax income was zero or negative, so there is no tax rate to apply.
  • Debt / equity0.72 borrowings, leases excluded / equity — 10-Q/10-K balance sheet 2026-06-30
  • Revenue growth (YoY)+66.7% FY2025, SEC XBRL
  • Revenue CAGR (3y)+35.2% SEC XBRL
  • Beta0.70 as of 2026-09-02
  • Last reported earnings2026-08-06 SEC EDGAR Form 8-K (Item 2.02)

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How INSM compares in its sector

  • net profit marginbottom 25% 430 covered Health Care peers, as of 2026-09-02
  • operating marginbottom 25% 417 covered Health Care peers, as of 2026-09-02
  • return on equitybottom 10% 510 covered Health Care peers, as of 2026-09-02
  • 3-year revenue CAGRtop 25% 402 covered Health Care peers
  • free cash flow (absolute dollars, latest fiscal year)bottom 10% 494 covered Health Care peers, as of FY2025

Position among covered Health Care companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.

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Quarterly results

QuarterRevenueOperating incomeNet incomeDiluted EPSOperating cash flowCapex
Q2 FY2026 2026-06-30$425M-$2M-$13M-$0.06-$89M†$6M†
Q1 FY2026 2026-03-31$306M-$153M-$164M-$0.76-$223M$3M
Q4 FY2025 2025-12-31$264M†-$320M†-$328M†-$1.53†-$248M†$17M†
Q3 FY2025 2025-09-30$142M-$366M-$370M-$1.75-$220M†$2M†
Q2 FY2025 2025-06-30$107M-$313M-$322M-$1.70-$206M†$3M†
Q1 FY2025 2025-03-31$93M-$248M-$257M-$1.42-$262M$10M
Q4 FY2024 2024-12-31$104M†-$230M†-$236M†-$1.30†-$196M†$7M†
Q3 FY2024 2024-09-30$93M-$213M-$221M-$1.27-$181M†$4M†

† Not filed as a discrete quarter: derived from the company's own year-to-date figures (for example the fourth quarter as the fiscal year minus the first nine months). A derived per-share figure is approximate, because the share count moves within the year.

Balance sheet at 2026-06-30

  • Cash and equivalents$545M
  • Short-term investments$616M
  • Total debt$544M borrowings only; leases excluded
  • Net debt-$617M total debt − cash − short-term investments

From the company's own SEC 10-Q and 10-K filings (XBRL), re-read every week. Figures in US dollars as filed; informational only — not financial advice.

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How Insmed looks technically

Insmed (INSM) is trading 26.1% below its 200-day average, the long-term trend line — a long-term downtrend. Its 50-day average crossed below its 200-day average about 137 trading days ago — a "death cross", a bearish long-term signal. A strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 43, with sellers in control. Momentum is beaten down — its 14-day RSI (a 0–100 momentum gauge) is 29, in oversold territory (below 30). It made a new 20-day low about 2 trading days ago. It is 4.7% above its 52-week low (its lowest price of the past year).

Trend

8
Distance from the 200-dayit is trading 26.1% below its 200-day average, the long-term trend line — a long-term downtrend-26.1%
50-day moving averageits average price over the last 50 trading days — a short-term trend line — is $117.37$117.37
200-day moving averageits average price over the last 200 trading days — the long-term trend line — is $129.48$129.48
Swing structureits recent peaks and dips disagree — one of them is rising while the other is not, so there is no clean up or down pattern in the swingsmixed — one of the two is not confirming
Last swing turnits last significant turn was a swing low 35 calendar days ago — the swings before that are what the structure reading is measured on35 sessions
Wave structureits recent swings can be read as a five-part downward sequence — what Elliott-wave chartists call an impulse — now in the fourth leg, a pullback against that downward direction; the labelling fails if price closes above 117.15. It is the only labelling that fits, though not with textbook proportions, and it describes the swings already printed, not what comes next.possible downward five-wave sequence, in wave 4 (atypical proportions)
Since the 50/200 crossits 50-day average crossed below its 200-day average about 137 trading days ago — a "death cross", a bearish long-term signal137 sessions
Trend strength (14-day ADX)a strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 43, with sellers in control43.3

Momentum

3
14-day RSImomentum is beaten down — its 14-day RSI (a 0–100 momentum gauge) is 29, in oversold territory (below 30)29.1
Position in its 14-day rangeit is trading near the bottom of its 14-day range ($94.38 to $116.19) — its "stochastic" reading is 6 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions.5.9
Since the MACD crossed zeroMACD, a trend-momentum gauge, is in negative territory (momentum leaning bearish)41 sessions

Range

12
52-week highits highest closing price over the past year (about 252 trading days) was $212.75$212.75
From the 52-week highit is 55.0% below its 52-week high (its highest price of the past year)-55.0%
Above the 52-week lowit is 4.7% above its 52-week low (its lowest price of the past year)+4.7%
Below the 52-week highit is 55.0% below its highest point of the past year55.0%
Since a 20-day breakoutit made a new 20-day low about 2 trading days ago2 sessions
Since a 55-day breakoutit made a new 55-day low about 2 trading days ago2 sessions
All-time highits highest closing price on record is $212.75 (set on 2025-12-02)$212.75
Given back of the 52-week moveover the past year its closes ranged ($94.17 to $211.41), and it has recovered essentially none of its fall from last year’s high — 1% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $166.62 to $170.38. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast.1.3%
From the all-time highit is 55.0% below its all-time high-55.0%
Nearest price levelit is sitting right on a resistance level at $95.72 — a price it turned at twice since 2025-07-07, most recently on 2026-08-03. Since 2024-10-21 it has 6 such levels below the current price and 7 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go.+0.1%
All-time lowits lowest closing price on record is $2.64 (set on 2011-11-25)$2.64
Above the all-time lowit is 3523.9% above its all-time low+3,524%

Volatility

5
Band width vs its own 6 monthsday-to-day price swings are wider than usual versus its own recent 6-month history (wider than about 71% of it)71st percentile
Typical daily rangein a typical session it travels about $4.18 between its high and its low — about 4.4% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was$4.18
Bollinger bands (20-day, ±2σ)most of its recent trading has stayed between about $88.41 and $123.22 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles$88.41 – $105.82 – $123.22
Typical daily range (% of price)its price moves about 4.4% in a typical session — about typical for the companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price4.4%
Stretch from the 200-day averageit is trading 8.1 daily ranges below its 200-day average price (26.1% below it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale8.1 daily ranges below its 200-day average

Volume

1
Volume vs its 30-day averagetrading volume is about normal versus its 30-day average0.98×

Analyst

2
Change in the average price targetanalysts have cut their average price target by 0.4% since the prior reading-0.4%
Change in the consensus ratingthe analyst consensus rating has softened toward "sell" since the prior reading0.08 toward sell

Candlestick patterns

2
Since a dojitoday it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session leveltoday
Since a hammer4 sessions ago, after a stretch of decline, it sold off hard during the session and then closed back near its high — a "hammer", the long lower wick showing the drop was bought back before the close4 sessions ago

Price gaps

3
Gap at the openit opened on 2026-10-20 0.4% above the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close+0.4%
Open gapit gapped 5.1% below the previous close 11 sessions ago and has not traded back through the level it left behind at 111.12 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed-5.1%
Gap filleda 2.6% gap up opened on 2026-09-21 has been "filled" 20 sessions ago — price traded back through the level the gap left behind, and it took 1 session to close20 sessions ago

Price streaks

1
Closing streakit closed higher in its latest session, after a session that did not close higher — a single up day rather than a run1 session up

Relative strength

4
vs market, 1 monthover the past 1 month this stock lagged the market by 21.2 percentage points (the stock lost 20.3% while the market gained 1.0%)-21.2%
vs market, 3 monthsover the past 3 months this stock lagged the market by 14.2 percentage points (the stock lost 10.6% while the market gained 3.6%)-14.2%
vs market, 6 monthsover the past 6 months this stock lagged the market by 41.5 percentage points (the stock lost 33.0% while the market gained 8.5%)-41.5%
vs market, 12 monthsover the past 12 months this stock lagged the market by 57.6 percentage points (the stock lost 43.0% while the market gained 14.6%)-57.6%

Signal agreement

2
Bullish technical signals2 of the 9 technical signals we can compute for it are currently in a bullish state: its RSI momentum gauge is oversold (a beaten-down reading), near the bottom of its 14-day range (oversold) — these describe past price behaviour, not a forecast2 of 9
Bearish technical signals7 of the 9 technical signals we can compute for it are currently in a bearish state: a "death cross" — its 50-day average is below its 200-day, trading below its 200-day average, a fresh 20-day low, MACD momentum is negative, a strong downtrend, with sellers in control, lagging the market over 6 months, trading below the Ichimoku cloud — these describe past price behaviour, not a forecast7 of 9

Trend (Ichimoku cloud)

1
Vs the Ichimoku cloudtrading 18% below the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-09-14 and projected forward over today's price, the side traders read as an established downtrend, with the band above acting as the level that would have to be cleared. The band itself is thick, spanning 9.1% of the share price, which is taken to mean a barrier that has held for a while and takes effort to cross.-18.3%

Volume-weighted price

2
Vs this year’s average price paidthe price is 23% below the average price paid so far this year, so the typical buyer over that stretch is under water. That average is $124.44 — a volume-weighted average of daily closes over 198 sessions, not a true tick-by-tick VWAP.-23.1%
Vs the average paid since it last reportedthe price is 19% below the average price paid since it last reported on 2026-08-06 (its 10-Q), so the typical buyer over that stretch is under water. That average is $117.77 — a volume-weighted average of daily closes over 53 sessions, not a true tick-by-tick VWAP.-18.8%

Price levels it has turned at before

INSM last closed at $95.67 on 2026-10-20. Since 2024-10-21 it has turned at 6 prices below its last close and 7 above; the 3 nearest below and the 3 nearest above are listed, nearest first.

LevelSideDistanceEvidence
$95.72Resistance0.1% above the last closeturned there twice · 2025-07-07 to 2026-08-03
$105.21Resistance10.0% above the last closeturned there twice · 2025-07-17 to 2026-07-16
$81.77Support14.5% below the last closeturned there twice · 2025-02-06 to 2025-03-24
$74.34Support22.3% below the last closeturned there four times · 2024-11-14 to 2025-05-02
$117.75Resistance23.1% above the last closeturned there twice · 2026-08-28 to 2026-09-15
$72.01Support24.7% below the last closeturned there three times · 2024-12-04 to 2025-04-23

A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.

Wave structure

Its recent swings can be read as a five-part downward sequence — what Elliott-wave chartists call an impulse — now in leg 4 of five, a pullback against that direction.

This labelling fails — stops being a possible reading at all — if it closes above $117.15.

It is the only labelling that fits these swings, though its proportions are not the textbook ones.

On past moves of this shape the leg has usually ended somewhere between $117.15 and $121.29 — that is where it has tended to end if the count holds, not a forecast of where the price goes.

This reading has stood for 16 trading days, since 2026-09-29.

Read from daily closes as of 2026-10-20.

An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.

Based on daily closing prices as of 2026-10-20. Describes past price behavior only — informational, not financial advice.

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Analyst consensus

  • Consensus ratingStrong Buy (1.29 mean, 1=Strong Buy…5=Strong Sell) — 22 analysts
  • Mean price target$197.00 range $165.00 – $243.00; median $196.50

Analyst estimates, as of 2026-10-16. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.

Analyst EPS estimate for INSM

  • Consensus EPS estimate-$0.3786 next reporting period, as of 2026-10-16
  • Estimate change, 30 days-$0.01746 from -$0.3611, on 2026-09-11, 35-day window
  • Readings revised upward11% of 9 comparable readings

The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.

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Key risks (from latest filing)

["Substantial historical losses and accumulated deficit with no assurance of achieving future profitability.","Significant reliance on the commercial success of its lead products, which face intense competition and regulatory/reimbursement challenges.","Material volatility in earnings due to the revaluation of contingent consideration liabilities related to prior acquisitions."]

See INSM's biggest risks from its latest 10-Q →

What changed in the latest 10-Q

AI-assisted comparison of INSM's 10-Q filed 2026-08-06 against the prior one filed 2026-05-07.

Management's Discussion & Analysis (MD&A)

  • Notes:
    • The provided newer source text appears to be cut off mid-sentence ('goodwill impairment charges affecting our results of operations and financial condit'), so only the portion up to the truncation point could be compared.
    • No factual differences were detected between the two provided source texts up to the truncation point.

Risk Factors

  • Added:
    • Newer filing (2026-08-06) adds exhibit 10.1: Form of Award Agreement for Restricted Stock Units issued to directors pursuant to the Insmed Incorporated Amended and Restated 2019 Incentive Plan for awards granted on or after May 11, 2026.
    • Newer filing (2026-08-06) adds exhibit 10.2: Employment Agreement, effective as of June 23, 2026, between Insmed Incorporated and Samuele Butera.
    • Newer filing (2026-08-06) adds a Rule 10b5-1 Trading Plan entry for S. Nicole Schaeffer, Chief People Strategy Officer, adopted 05/11/2026, scheduled start 08/31/2026, scheduled expiration 12/01/2026, maximum 101,100 shares.
    • Newer filing (2026-08-06) adds a disclosure that officer Samuele Butera, SVP, General Manager, Global Respiratory, entered into a grant agreement relating to RSUs with a sell-to-cover arrangement constituting a non-Rule 10b5-1 trading arrangement.
  • Removed:
    • Older filing (2026-05-07) includes a Rule 10b5-1 Trading Plan entry for Sara Bonstein, Chief Financial Officer, adopted 03/03/2026, scheduled start 06/02/2026, scheduled expiration 12/02/2026, maximum 154,121 shares, which does not appear in the newer filing.
    • Older filing (2026-05-07) includes a Rule 10b5-1 Trading Plan entry for Martina Flammer, M.D., Chief Medical Officer, adopted 03/16/2026, scheduled start 09/01/2026, scheduled expiration 08/31/2027, maximum 187,979 shares, which does not appear in the newer filing.
    • Older filing (2026-05-07) discloses that each of the officers entered into grant agreements relating to RSUs and PSUs with sell-to-cover arrangements; the newer filing (2026-08-06) removes the reference to PSUs and limits the disclosure to one officer (Samuele Butera) and RSUs only.
  • Reworded:
    • Older filing (2026-05-07) states the Trading Plan table describes plans adopted, modified or terminated during the first quarter of 2026; newer filing (2026-08-06) states the second quarter of 2026.
    • Older filing (2026-05-07) describes sell-to-cover arrangements for RSUs and PSUs entered into by each of the officers; newer filing (2026-08-06) describes a sell-to-cover arrangement for RSUs entered into by one officer, Samuele Butera.
    • Newer filing (2026-08-06) refers to 'the RSUs' and 'the final vesting date of the RSUs' in the non-Rule 10b5-1 trading arrangement disclosure; older filing (2026-05-07) refers to 'the applicable RSUs or PSUs' and 'the applicable grant agreement'.
  • Notes:
    • The extracted texts include content beyond the Risk Factors section (such as exhibits, signature pages, and other items), and some content is truncated or includes formatting artifacts (e.g., 'Ru le 10b5-1(c)').
    • This comparison reflects only the extracted text provided; the full Risk Factors section in each filing may contain additional content not shown in the excerpts.

AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.

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Insider activity (SEC Form 4)

0 open-market purchases and 5 open-market sales by insiders in the last 90 days, of which we have read Form 4 filings through 2026-10-16. The 5 days since 2026-10-16 have not been checked yet.

  • Last 90 days · read to 2026-10-160 buys · 5 sells ($39M) — 4 selling insiders
  • Last 180 days · read to 2026-10-160 buys · 44 sells ($60M) — 7 selling insiders

Activity heuristic: net selling (a transparent product heuristic from the counts above, not a prediction or advice)

Most recent open-market transaction: 2026-09-09. Based on Form 4 filings read through 2026-10-16; anything filed since is not yet included.

View full insider trading history → View SEC Form 3/4/5 filings

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Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.

U.S. House trading disclosures

U.S. House members publicly disclose their own, their spouse's, and dependent children's stock transactions under the STOCK Act. We hold 7 matched disclosures for INSM from U.S. House Clerk Periodic Transaction Report filings.

U.S. House trading disclosures →

Institutional ownership (13F)

5 institutional 13F filers reported holding INSM as of 2026-06-30 (quarter-end position, filed within 45 days).

  • Distinct 13F filers 5
  • Reported shares held 44,834,879
  • Reported value $4,780,294,744

reported quarterly holdings change (2026-03-31 → 2026-06-30): 0 new, 4 increased, 1 decreased, 1 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".

Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.

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Short interest (FINRA)

INSM had 13,800,693 shares of reported short interest as of the 2026-09-30 FINRA settlement date (delayed, bi-monthly; not real-time).

INSM had 6.32% of its shares outstanding sold short as of the 2026-09-30 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 6.5 days to cover at the same settlement.

  • Reported short interest (shares) 13,800,693
  • Short interest (% of shares outstanding) 6.32%
  • Prior settlement (shares) 10,802,070
  • Reported change 27.76%
  • Days to cover (reported) 6.5

Reported to FINRA as of the 2026-09-30 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.

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Competitors & peers

AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.

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Frequently asked questions

What does Insmed (INSM) do?

Insmed Incorporated is a biopharmaceutical company focused on the development and commercialization of therapies for patients with serious and rare diseases. Its commercial portfolio includes treatments for chronic lung infections and other respiratory conditions, supported by a pipeline of clinical-stage product candidates.

What sector is Insmed (INSM) in?

Insmed (INSM) is classified in the Health Care sector. Its industry is Biotechnology. It trades on NASDAQ.

Who are Insmed's (INSM) competitors?

Notable peers of Insmed (INSM) include United Therapeutics, Vertex Pharmaceuticals, Gilead Sciences, Novartis and AstraZeneca. This peer set is informational only — not financial advice.

Has there been recent U.S. House stock trading in INSM?

Yes — we hold 7 matched STOCK Act disclosures for INSM from U.S. House Clerk Periodic Transaction Report filings. These are legally-required disclosures (often filed 30–45 days after the trade), may belong to a U.S. House member, their spouse, or a dependent child, and are not an indicator of company performance or investment advice.

Is Insmed (INSM) overbought or oversold right now?

Insmed (INSM) is currently in oversold territory (its 14-day RSI is 29, below 30) (as of 2026-10-20). RSI describes recent price momentum, not a forecast — informational only, not financial advice.

Where does stocks-llm's data on INSM come from?

Fundamentals come from SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-02 for the rest; prices are market data, as of 2026-09-02; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.

Fundamentals: SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-02 for the rest. Filings: SEC EDGAR. Prices are delayed daily-close data.

Last updated 2026-10-20.

Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.