Insmed Incorporated

DB:IM8N Stock Report

Market Cap: €12.1b

Insmed Valuation

Is IM8N undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of IM8N when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: IM8N (€72) is trading below our estimate of fair value (€535.32)

Significantly Below Fair Value: IM8N is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for IM8N?

Key metric: As IM8N is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for IM8N. This is calculated by dividing IM8N's market cap by their current revenue.
What is IM8N's PS Ratio?
PS Ratio36.7x
SalesUS$342.96m
Market CapUS$12.60b

Price to Sales Ratio vs Peers

How does IM8N's PS Ratio compare to its peers?

The above table shows the PS ratio for IM8N vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average8.3x
BIO3 Biotest
1.4x3.6%€1.3b
FYB Formycon
14.9x32.0%€905.8m
HPHA Heidelberg Pharma
12.5x16.6%€105.8m
SRT3 Sartorius
4.5x9.2%€13.5b
IM8N Insmed
36.7x49.4%€12.6b

Price-To-Sales vs Peers: IM8N is expensive based on its Price-To-Sales Ratio (36.7x) compared to the peer average (8.3x).

Price to Sales Ratio vs Industry

How does IM8N's PS Ratio compare vs other companies in the DE Biotechs Industry?

7 CompaniesPrice / SalesEstimated GrowthMarket Cap
BIO3 Biotest
1.4x3.6%US$1.39b
CNW co.don
0.7xn/aUS$6.97m
V9Z Aceragen
0.4xn/aUS$3.12m
PA8 Paion
0.2x30.2%US$2.78m
IM8N 36.7xIndustry Avg. 8.1xNo. of Companies7PS0612182430+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: IM8N is expensive based on its Price-To-Sales Ratio (36.7x) compared to the European Biotechs industry average (8.1x).

Price to Sales Ratio vs Fair Ratio

What is IM8N's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IM8N PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio36.7x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate IM8N's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst IM8N forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
€85.85
0%
8.1%€100.83€72.02n/a17
Dec ’25€70.00
€85.85
+22.6%
8.1%€100.83€72.02n/a17
Nov ’25€65.50
€81.92
+25.1%
8.9%€96.54€68.04n/a17
Oct ’25n/a
€79.73
0%
8.5%€93.85€65.61n/a16
Sep ’25€68.50
€79.73
+16.4%
8.5%€93.85€65.61n/a16
Aug ’25€67.50
€76.93
+14.0%
9.7%€93.70€66.14n/a16
Jul ’25n/a
€70.78
0%
10.2%€83.82€55.88n/a16
Jun ’25€49.20
€57.60
+17.1%
17.7%€71.10€33.24n/a16
May ’25n/a
€41.22
0%
14.6%€51.38€32.70n/a16
Apr ’25n/a
€40.41
0%
15.5%€50.90€32.39n/a15
Mar ’25n/a
€40.01
0%
14.8%€50.71€32.27n/a15
Feb ’25n/a
€38.88
0%
16.6%€50.27€31.99n/a13
Jan ’25n/a
€38.61
0%
17.0%€50.11€31.89n/a13
Dec ’24n/a
€37.85
0%
15.6%€47.52€31.98€70.0012
Nov ’24n/a
€40.62
0%
16.5%€51.11€33.12€65.5012
Oct ’24n/a
€39.93
0%
17.5%€50.64€30.95n/a12
Sep ’24n/a
€37.26
0%
18.3%€47.52€27.42€68.5013
Aug ’24n/a
€36.40
0%
19.3%€46.87€27.04€67.5013
Jul ’24n/a
€36.41
0%
19.8%€48.03€25.86n/a12
Jun ’24n/a
€35.55
0%
19.3%€47.21€25.42€49.2013
May ’24n/a
€35.80
0%
18.4%€47.09€25.35n/a13
Apr ’24n/a
€36.94
0%
18.8%€48.77€26.26n/a13
Mar ’24n/a
€36.94
0%
18.8%€48.77€26.26n/a13
Feb ’24n/a
€37.35
0%
17.5%€48.00€25.84n/a13
Jan ’24n/a
€39.87
0%
17.8%€50.31€26.58n/a13
Dec ’23€18.00
€42.52
+136.2%
15.7%€50.90€30.73n/a11

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 16:33
End of Day Share Price 2024/12/02 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Insmed Incorporated is covered by 33 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Neena Bitritto-GargBaird
Leon WangBarclays
Anita DushyanthBerenberg