INSMED INCORPORATED Reports Q2 2023 Earnings Results for Fiscal Year 2023
August 9, 2023
🌥️Earnings Overview
On August 3 2023, INSMED INCORPORATED ($NASDAQ:INSM) reported its financial results for the second quarter of fiscal year 2023, ending June 30 2023. The company had total revenue of USD 77.2 million – an 18.4% year-on-year increase – while net income was reported at -244.8 million, down from -95.6 million in the same quarter of the previous fiscal year.
Stock Price
On Thursday, INSMED INCORPORATED released their quarterly earnings results for the fiscal year 2023, which showed positive results overall. For the quarter, INSMED INCORPORATED stock opened at $21.0 and closed at $22.2, up by 1.7% from the previous closing price of 21.8. This was a solid increase for the company, as their stocks have been on a steady and positive climb since the beginning of the fiscal year. The company’s earnings report revealed that their revenue for the quarter was up by 4% from the previous year; an encouraging sign and further evidence of their increasing success.
Overall, the latest quarterly earnings results from INSMED INCORPORATED show that they are continuing to grow and improve their financial performance. The positive outlook for the company is reassuring for shareholders and potential investors, and speaks to the company’s ability to remain competitive in the industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Insmed Incorporated. More…
| Total Revenues | Net Income | Net Margin |
| 269.47 | -695.84 | -263.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Insmed Incorporated. More…
| Operations | Investing | Financing |
| -462.07 | -162.83 | 824.43 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Insmed Incorporated. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.44k | 1.59k | -1.09 |
Key Ratios Snapshot
Some of the financial key ratios for Insmed Incorporated are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 18.0% | – | -237.3% |
| FCF Margin | ROE | ROA |
| -176.5% | 398.9% | -27.8% |
Analysis
As GoodWhale has analyzed INSMED INCORPORATED‘s fundamentals, we have classified them as a ‘cheetah’ company. This type of company typically achieves high revenue or earnings growth, but can be considered less stable due to lower profitability. In terms of investor type, those interested in higher risk and higher returns will likely be seeking this type of company. When it comes to the health score of INSMED INCORPORATED, it is currently 2/10. This suggests that the company is less likely to be able to sustain future operations in times of crisis. It is strong in growth, medium in assets, and weak in dividend and profitability. These are all important factors to consider when evaluating whether or not a company is a sound investment. More…
Peers
The competition between Insmed Inc and its competitors is fierce. All of the companies are fighting for market share and customer loyalty. Each company has its own unique selling proposition and they are all trying to differentiate themselves from the others. The competition is good for consumers because it drives down prices and drives up quality.
– Rhythm Pharmaceuticals Inc ($NASDAQ:RYTM)
The company’s market cap is 1.3B as of 2022. The company’s ROE is -55.93%. The company’s products are focused on the treatment of obesity and related disorders.
– NeuroBo Pharmaceuticals Inc ($NASDAQ:NRBO)
As of 2022, NeuroBo Pharmaceuticals Inc has a market cap of 2.32M and a Return on Equity of -85.11%. The company focuses on the development of drugs for the treatment of neurological diseases and disorders. The company’s products are designed to target specific areas of the brain and nervous system. The company’s products are currently in clinical trials and have not yet been approved by the FDA.
– Terns Pharmaceuticals Inc ($NASDAQ:TERN)
Terns Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapeutics for the treatment of cancer. The company’s most advanced product candidate is TERN-101, a small molecule inhibitor of the MDM2 protein, which is in Phase I/II clinical trials for the treatment of patients with solid tumors. TERN-101 has shown promising preliminary clinical activity in a Phase I clinical trial in patients with advanced solid tumors, including non-small cell lung cancer, gastric cancer and glioblastoma.
Summary
INSMED INCORPORATED reported its second quarter of fiscal year 2023 earnings results, showing an 18.4% year-over-year increase in total revenue to USD 77.2 million. However, net income was reported at USD -244.8 million compared to the prior year’s figure of -95.6 million. This is a significant decrease, suggesting that investors should take caution and further investigate the company before investing. Further analysis will be needed to determine the cause of this decline and whether or not it is a trend that will continue in the future.
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