INSM
Insmed Inc
NASDAQ: INSM · HEALTHCARE · BIOTECHNOLOGY
$97.85
+1.17% today
Updated 2026-06-12
Market cap
$21.21B
P/E ratio
—
P/S ratio
25.88x
EPS (TTM)
$-5.76
Dividend yield
—
52W range
$90 – $213
Volume
3.0M
Insmed Inc (INSM) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed INSM price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$97.85
Today
Analyst consensus
$211.00
+115.64% · 12M
2030 Base
$405.21
+314.11% future
NPV today
$267.80
@ 9% WACC
25 analysts:
23 Buy0 Hold1 Sell
Management guidance
CEO Will Lewis stated the company maintains 2026 revenue outlook of at least $1,000M (minimum $1.0B). Company expects to become cash flow positive in 2027. Management has guided for BRINSUPRI to be a blockbuster with expanding addressable market in bronchiectasis, and TPIP pipeline includes four Phase 3 trials underway with significant commercial potential.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
INSM · Insmed Inc · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$176.83
NPV today: $116.87
Base case (2030)
$405.21
NPV today: $267.80
Bull case (2030)
$861.98
NPV today: $569.68
WallStSmart.com
INSM financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $0.6B | $1.7B | $2.9B | $4.2B | $5.6B | $7.2B |
| Revenue growth | 66.7% | 183.6% | 67.4% | 46.2% | 34.0% | 27.7% |
| Net margin | — | -35.6% | 7.3% | 11.2% | 14.4% | 15.7% |
| EPS | $-6.41 | $-2.81 | $0.96 | $2.15 | $3.68 | $5.12 |
| Diluted shares | — | 218M | 218M | 219M | 220M | 221M |
| Net debt | — | $1.41B | $2.85B | $4.96B | $7.78B | $11.38B |
| P/S multiple | — | 14.0x | 14.0x | 14.0x | 14.0x | 14.0x |
| Implied price (base) | — | $104.16 | $171.49 | $246.09 | $323.53 | $405.21 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $7.2B | $7.2B | $7.2B |
| P/S multiple | 7.0x | 14.0x | 28.0x |
| Diluted shares | 221M | 221M | 221M |
| Net debt | $11.38B | $11.38B | $11.38B |
| Implied P/E † | 35x | 79x | 168x |
| 2030 Price | $176.83 | $405.21 | $861.98 |
| NPV @ 9% | $116.87 | $267.80 | $569.68 |
† Implied P/E: Multiples remain elevated across all three scenarios because INSM is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $405.21 base case
INSM catalysts and risks
Growth catalysts
+ BRINSUPRI blockbuster launch momentum (44% sequential Q1 growth, strong persistence rates despite discontinuation concerns)
+ ARIKAYCE label expansion (positive Phase 3b ENCORE data for MAC lung disease, expanding addressable market)
+ TPIP pipeline Phase 3 readouts (four trials underway, potential for new indication approval 2027-2028)
+ Achievement of cash flow positive status in 2027 (eliminates dilution risk, validates unit economics)
+ International expansion of ARIKAYCE in developed markets
Key risks
- BRINSUPRI adoption deceleration post-'ready and waiting' patient cohort (initial launch driven by pent-up demand, Q1 earnings miss raised concerns about sustainability)
- Competitive pressure in bronchiectasis (Truist lowered target citing competitive developments)
- Phase 2b CEDAR study failure for BRINSUPRI in another indication (April 2026 setback, limits label expansion upside)
- Patent cliff risk on ARIKAYCE (primary revenue driver before BRINSUPRI; IP protection timeline critical)
- High burn rate despite revenue growth ($819.56M TTM revenue but -$5.76 EPS, -144.4% profit margin); path to profitability requires continued commercial execution
- Stock dilution risk (shelf registration filed; 101.84% institutional ownership; potential capital raises if cash burn persists)
Methodology · Insmed Inc 2030 stock forecast model
Insmed Inc 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 25 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (2% cumulative for INSM by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($11.38B by 2030) |
| 3. Time value | NPV calculated using 9% WACC (CAPM: beta 0.894) |
| 4. Multiple framework | P/S compresses with scale: bear 7.0x / base 14.0x / bull 28.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 20, 2026.
INSM price target FAQ
What is the INSM price target for 2030?
WallStSmart's Insmed Inc 2030 base case is $405.21 per share, with a bull case of $861.98 and bear case of $176.83. The NPV of the base case discounted to today at 9% WACC is $267.80.
How is the Insmed Inc 2030 stock forecast calculated?
The INSM 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the INSM price target account for dilution?
Insmed Inc is projected to grow diluted share count from 217M to 221M by 2030 (a 2% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 2%.
What is the analyst consensus on INSM stock?
25 analysts cover INSM with an average 12-month price target of $211.00. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.