Stock likely to rise on EPS beat and strong BRINSUPRI launch metrics. Monitor ENCORE sNDA submission in H2 2026 and TPIP data in Q3 2026 for further catalysts.
Price Chart
Executive Summary
Insmed reported Q1 2026 total revenue of $306.0M (up 230% YoY, driven by BRINSUPRI launch) and a net loss of $163.6M ($0.76 per share), beating consensus EPS of -$0.90. The company reiterated 2026 BRINSUPRI revenue guidance of at least $1B and ARIKAYCE guidance of $450-470M, and highlighted positive ENCORE Phase 3b results. The stronger-than-expected launch trajectory and EPS beat are positive catalysts.
Key Financial Metrics
Key Facts
- Total Q1 2026 revenue: $306.0M vs $92.8M in Q1 2025 (+230% YoY)
- BRINSUPRI revenue: $207.9M (+44% vs Q4 2025)
- ARIKAYCE revenue: $98.1M (+6% vs Q1 2025)
- Net loss: $163.6M ($0.76 per share) vs $256.6M ($1.42) in Q1 2025
- EPS beat consensus of -$0.90 by 15.6%
- Reiterated 2026 BRINSUPRI revenue ≥$1B and ARIKAYCE $450-470M
- Phase 3b ENCORE study met all primary and secondary endpoints
- Cash, cash equivalents, and marketable securities: $1.2B as of March 31, 2026
Financial Impact
EPS beat by $0.14 (15.6%) on consensus -$0.90; revenue beat unknown due to lack of consensus
Risk Factors
- Still unprofitable with operating loss of $153.3M in Q1 2026
- Cash burn expected to continue, though path to cash flow positive in 2027
- Dependence on BRINSUPRI launch momentum and label expansion for ARIKAYCE
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001140361-26-019430 |
| Document: ef20072589_ex99-2.htm | 0001140361-26-019430 |
| Document: ef20072589_8k.htm | 0001140361-26-019430 |
| Document: 0001140361-26-019430-index-headers.html | 0001140361-26-019430 |
| Document: 0001140361-26-019430-index.html | 0001140361-26-019430 |
| Document: 0001140361-26-019430.txt | 0001140361-26-019430 |
| 8-K Data (Synthetic) | 0001140361-26-019430 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 19, 2026 6w ago | Insider Cluster | $130.66 $119.92 | ▼ −8.22% | ▼ −6.70% | $109.99 (−15.82%) |
Aug 12, 2026 7w ago | Insider Cluster | $126.33 $129.41 | ▲ +2.44% | ▲ +4.19% | $109.99 (−12.93%) |
Aug 6, 2026 8w ago | 8-K | $132.55 $126.68 | ▼ −4.43% | ▼ −5.03% | $109.99 (−17.02%) |
Jul 24, 2026 10w ago | Institutional Cluster | $106.92 $125.77 | ▲ +17.63% | ▲ +14.00% | $109.99 (+2.87%) |
Jul 21, 2026 10w ago | ANALYST-UPGRADE | $108.62 $128.46 | ▲ +18.27% | ▲ +15.70% | $109.99 (+1.26%) |
Jul 16, 2026 11w ago | 8-K | $107.46 $126.33 | ▲ +17.56% | ▲ +13.94% | $109.99 (+2.35%) |
Jun 26, 2026 13w ago | Insider Cluster | $104.74 $106.92 | ▲ +2.08% | ▲ +2.36% | $109.99 (+5.01%) |
Jun 5, 2026 16w ago | Insider Cluster | $94.17 $111.54 | ▲ +18.45% | ▲ +16.81% | $109.99 (+16.80%) |
Jun 5, 2026 16w ago | Insider Cluster | $94.17 $111.54 | ▲ +18.45% | ▲ +16.81% | $109.99 (+16.80%) |
May 15, 2026 19w ago | S-3ASR | $107.15 $95.52 | ▼ −10.85% | ▼ −12.44% | $109.99 (+2.65%) |
US Market Status
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