Insmed (INSM)
Commercializes rare pulmonary disease medicines while developing pulmonary, antibody and gene therapies.
Something off on this page? Send us feedback.
Markets ARIKAYCE for refractory MAC lung disease and BRINSUPRI for non-cystic fibrosis bronchiectasis, with pulmonary-hypertension, antibody and gene-therapy programs in development. Managed as one reportable segment, the commercial business is concentrated in the United States and depends on product approvals, reimbursement, manufacturing partners and trial execution.
Markets ARIKAYCE for refractory MAC lung disease and BRINSUPRI for non-cystic fibrosis bronchiectasis, while managing the business as one reportable segment. ARIKAYCE is an inhaled liposomal antibiotic; BRINSUPRI is an oral DPP1 inhibitor.
Commercial revenue is concentrated in the United States, with ARIKAYCE also approved in Europe and Japan. Builds pulmonary franchises through the Transave combination, a worldwide AstraZeneca license, and internal development, while advancing TPIP, INS1148, and gene-therapy candidates.
Depends on continued product approvals, payer reimbursement, physician and patient adoption, third-party manufacturing, and clinical-trial execution. ARIKAYCE's accelerated U.S. approval also carries confirmatory work supporting full approval, while non-U.S. growth depends on market-specific approvals and launches.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 15, 2026 | Roth Capital | Reiterate | Rating: —Target: $212 | Target: $198 |
| Aug 10, 2026 | Truist Financial | Target | Target: $185 | Target: $195 |
| Aug 7, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $166 | Target: $218 |
| Aug 7, 2026 | Evercore ISI | Reiterate | Rating: —Target: $180 | Target: $170 |
| Aug 7, 2026 | Guggenheim | Reiterate | Rating: —Target: $226 | Target: $205 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.16B · Total debt $579.9M · Total assets $2.10B · Shareholders' equity $757.5M
- Revenue
- $425.5M
- Operating income
- −$1.5M
- Net income
- −$13.2M
No dividends on record.
| Institutions | ≈ 100.52% | 219.52M shares | |
|---|---|---|---|
| 717 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 0.65% | 1.41M shares | |
| 15 holders · as of Sep 11, 2026 | |||
| Adds to | 101.17% | ||
218.38M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 101.17%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
FMR LLCInstitution | 7.39% | 16.14M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 7.24% | 15.81M | as of Jun 30, 2026 |
JPMorgan Chase & CoInstitution | 4.78% | 10.43M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 4.77% | 10.41M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.48% | 9.79M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 9, 2026 | David R. Brennan | director | −25,000 | $124.00 |
| Aug 17, 2026 | Melvin Md Sharoky | director | −5,000 | $127.53 |
| Aug 10, 2026 | Roger Adsett | officer: Chief Operating Officer | −239,850 | $133.27 |
| Aug 6, 2026 | Martina M.D. Flammer | officer: Chief Medical Officer | −27,173 | $128.61 |
| Jul 23, 2026 | William Lewis | director, officer: Chair and CEO | −10,700 | $106.06 |
- United Therapeutics
Established inhaled treprostinil leader across PAH and PH-ILD
- Armata Pharmaceuticals
Phage approach for Pseudomonas-infected bronchiectasis
- Liquidia
Commercial dry-powder treprostinil rival in PAH and PH-ILD
- Merck
Approved PAH biologic competing with TPIP for treatment uptake
- Sarepta Therapeutics
Commercial DMD gene-therapy benchmark for INS1201
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Insmed | $120.28 | −0.60% | $26.23B | — | — | 23.1 | +296.1% |
| United Therapeutics | $491.52 | −0.32% | $20.93B | 17.7 | 19.0 | 6.6 | −1.9% |
| Armata Pharmaceuticals | $4.41 | +3.52% | $156.4M | — | — | 47.4 | +15.7% |
| Liquidia | $67.41 | +1.48% | $5.91B | 48.5 | 15.1 | 13.1 | +1,842.7% |
| Merck | $151.04 | +1.03% | $369.24B | 119.6 | 17.5 | 5.6 | +5.1% |
| Sarepta Therapeutics | $20.41 | +1.34% | $2.13B | — | 35.5 | 1.1 | −34.3% |
| Median | 48.5 | 18.2 | 6.6 | +5.1% |