Insmed Incorporated

NasdaqGS:INSM Stock Report

Market Cap: US$21.2b

Insmed Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow 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.

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Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: INSM ($97.85) is trading below our estimate of future cash flow value ($349.07)

Significantly Below Future Cash Flow Value: INSM is trading below future cash flow 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 Ratio25.9x
SalesUS$819.56m
Market CapUS$21.21b

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 Average7.2x
NTRA Natera
12.1x15.70%US$30.4b
ONC BeOne Medicines
5.1x11.62%US$29.4b
INCY Incyte
4x-1.12%US$21.7b
UTHR United Therapeutics
7.3x14.10%US$23.2b
INSM Insmed
25.9x33.08%US$21.2b

Price-To-Sales vs Peers: INSM is expensive based on its Price-To-Sales Ratio (25.9x) compared to the peer average (7.2x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

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

123 CompaniesPrice / SalesEstimated GrowthMarket Cap
BIIB Biogen
3x2.53%US$29.53b
BMRN BioMarin Pharmaceutical
3.3x10.07%US$10.81b
ACAD ACADIA Pharmaceuticals
3.3x10.08%US$3.61b
RARE Ultragenyx Pharmaceutical
3.6x23.88%US$2.39b
INSM 25.9xIndustry Avg. 10.3xNo. of Companies123PS01632486480+
123 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: INSM is expensive based on its Price-To-Sales Ratio (25.9x) 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 Ratio25.9x
Fair PS Ratio18.8x

Price-To-Sales vs Fair Ratio: INSM is expensive based on its Price-To-Sales Ratio (25.9x) compared to the estimated Fair Price-To-Sales Ratio (18.8x).

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$97.85
US$197.62
+101.96%
13.47%US$243.00US$140.00n/a21
Jun ’27US$106.03
US$200.00
+88.63%
13.53%US$243.00US$140.00n/a21
May ’27US$133.26
US$212.70
+59.61%
8.47%US$243.00US$177.00n/a20
Apr ’27US$164.86
US$214.32
+30.00%
9.21%US$245.00US$177.00n/a19
Mar ’27US$149.33
US$212.53
+42.32%
8.63%US$241.00US$166.00n/a19
Feb ’27US$156.87
US$215.10
+37.12%
8.86%US$241.00US$162.00n/a20
Jan ’27US$174.04
US$214.94
+23.50%
11.53%US$263.00US$158.00n/a18
Dec ’26US$211.41
US$220.41
+4.26%
8.74%US$256.00US$158.00n/a17
Nov ’26US$189.60
US$208.56
+10.00%
11.16%US$240.00US$153.00n/a18
Oct ’26US$147.28
US$162.65
+10.43%
15.83%US$240.00US$138.00n/a17
Sep ’26US$136.10
US$147.82
+8.61%
18.11%US$240.00US$110.00n/a17
Aug ’26US$108.69
US$116.12
+6.83%
7.11%US$135.00US$108.00n/a17
Jul ’26US$97.62
US$110.90
+13.60%
8.39%US$125.00US$90.00n/a18
Jun ’26US$69.73
US$96.78
+38.80%
7.72%US$109.00US$80.00US$106.0318
May ’26US$72.64
US$97.12
+33.71%
6.69%US$110.00US$89.00US$133.2617
Apr ’26US$72.00
US$95.78
+33.03%
9.99%US$110.00US$67.26US$164.8617
Mar ’26US$81.55
US$95.37
+16.94%
9.62%US$108.00US$67.26US$149.3317
Feb ’26US$76.58
US$88.14
+15.10%
10.38%US$105.00US$67.26US$156.8716
Jan ’26US$69.04
US$88.25
+27.83%
10.07%US$105.00US$67.26US$174.0417
Dec ’25US$75.16
US$89.40
+18.94%
8.05%US$105.00US$75.00US$211.4117
Nov ’25US$68.32
US$89.10
+30.42%
8.95%US$105.00US$74.00US$189.6017
Oct ’25US$72.88
US$87.50
+20.06%
8.51%US$103.00US$72.00US$147.2816
Sep ’25US$76.47
US$87.50
+14.42%
8.51%US$103.00US$72.00US$136.1016
Aug ’25US$75.33
US$83.75
+11.18%
9.70%US$102.00US$72.00US$108.6916
Jul ’25US$66.34
US$76.00
+14.56%
10.25%US$90.00US$60.00US$97.6216
Jun ’25US$55.05
US$62.38
+13.31%
17.74%US$77.00US$36.00US$69.7316
US$197.62
Fair Value
50.5% undervalued intrinsic discount
21
Number of Analysts

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 Analysis2026/06/15 14:22
End of Day Share Price 2026/06/12 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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.

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 Github.

Analyst Sources

Insmed Incorporated is covered by 42 analysts. 20 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
Eliana MerleBarclays
Anita DushyanthBerenberg