Insmed Incorporated

NasdaqGS:INSM Stock Report

Market Cap: US$12.5b

Insmed Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 INSM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: INSM ($68.87) is trading below our estimate of fair value ($475.94)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for INSM. This is calculated by dividing INSM's market cap by their current revenue.
What is INSM's PS Ratio?
PS Ratio35.9x
SalesUS$342.96m
Market CapUS$12.45b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for INSM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average5.4x
NBIX Neurocrine Biosciences
6.2x14.9%US$14.1b
BMRN BioMarin Pharmaceutical
4.5x8.2%US$12.7b
SRPT Sarepta Therapeutics
7.1x24.1%US$11.6b
EXAS Exact Sciences
3.9x9.1%US$10.7b
INSM Insmed
35.9x49.5%US$12.5b

Price-To-Sales vs Peers: INSM is expensive based on its Price-To-Sales Ratio (35.9x) compared to the peer average (5.4x).

Price to Sales Ratio vs Industry

How does INSM's PS Ratio compare vs other companies in the US Biotechs Industry?

134 CompaniesPrice / SalesEstimated GrowthMarket Cap
BIIB Biogen
2.3x1.3%US$22.05b
MRNA Moderna
3x5.8%US$15.44b
INCY Incyte
3.2x8.9%US$13.34b
EXAS Exact Sciences
3.9x9.1%US$10.65b
INSM 35.9xIndustry Avg. 10.1xNo. of Companies134PS01632486480+
134 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: INSM is expensive based on its Price-To-Sales Ratio (35.9x) compared to the US Biotechs industry average (10.3x).

Price to Sales Ratio vs Fair Ratio

What is INSM'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.

INSM PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio35.9x
Fair PS Ratio44x

Price-To-Sales vs Fair Ratio: INSM is good value based on its Price-To-Sales Ratio (35.9x) compared to the estimated Fair Price-To-Sales Ratio (44x).

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 INSM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$68.87
US$88.25
+28.1%
10.1%US$105.00US$67.26n/a17
Dec ’25US$75.16
US$89.40
+18.9%
8.1%US$105.00US$75.00n/a17
Nov ’25US$68.32
US$89.10
+30.4%
8.9%US$105.00US$74.00n/a17
Oct ’25US$72.88
US$87.50
+20.1%
8.5%US$103.00US$72.00n/a16
Sep ’25US$76.47
US$87.50
+14.4%
8.5%US$103.00US$72.00n/a16
Aug ’25US$75.33
US$83.75
+11.2%
9.7%US$102.00US$72.00n/a16
Jul ’25US$66.34
US$76.00
+14.6%
10.2%US$90.00US$60.00n/a16
Jun ’25US$55.05
US$62.38
+13.3%
17.7%US$77.00US$36.00n/a16
May ’25US$25.59
US$44.13
+72.4%
14.6%US$55.00US$35.00n/a16
Apr ’25US$26.72
US$43.67
+63.4%
15.5%US$55.00US$35.00n/a15
Mar ’25US$28.06
US$43.40
+54.7%
14.8%US$55.00US$35.00n/a15
Feb ’25US$28.53
US$42.54
+49.1%
16.6%US$55.00US$35.00n/a13
Jan ’25US$30.99
US$42.38
+36.8%
17.0%US$55.00US$35.00n/a13
Dec ’24US$26.52
US$41.42
+56.2%
15.6%US$52.00US$35.00US$75.1612
Nov ’24US$24.99
US$42.92
+71.7%
16.5%US$54.00US$35.00US$68.3212
Oct ’24US$25.25
US$42.58
+68.6%
17.5%US$54.00US$33.00US$72.8812
Sep ’24US$22.64
US$40.77
+80.1%
18.3%US$52.00US$30.00US$76.4713
Aug ’24US$22.13
US$40.38
+82.5%
19.3%US$52.00US$30.00US$75.3313
Jul ’24US$21.10
US$39.42
+86.8%
19.8%US$52.00US$28.00US$66.3412
Jun ’24US$19.24
US$39.15
+103.5%
19.3%US$52.00US$28.00US$55.0513
May ’24US$20.17
US$39.54
+96.0%
18.4%US$52.00US$28.00US$25.5913
Apr ’24US$17.05
US$39.38
+131.0%
18.8%US$52.00US$28.00US$26.7213
Mar ’24US$20.24
US$39.38
+94.6%
18.8%US$52.00US$28.00US$28.0613
Feb ’24US$21.62
US$40.46
+87.1%
17.5%US$52.00US$28.00US$28.5313
Jan ’24US$19.98
US$42.00
+110.2%
17.8%US$53.00US$28.00US$30.9913
Dec ’23US$19.12
US$44.27
+131.6%
15.7%US$53.00US$32.00US$26.5211

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 Analysis2024/12/30 02:16
End of Day Share Price 2024/12/30 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