PerpEquities

Equity

Insmed Incorporated (INSM) perpetual futures

INSM perpetual futures on 1 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade INSMUSDT.

Insmed Incorporated is a biopharmaceutical company developing treatments for severe and rare conditions, including ARIKAYCE for adult MAC lung disease and pipeline candidates Brensocatib and Treprostinil Palmitil Inhalation Powder.

$113.28+1.3%NASDAQ open
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TradingView symbol NASDAQ:INSM

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Trading data

Perpetual market activity

1/1 live markets
Venues
1
Live markets
1/1
24h volume
$11.2K
Open interest
$19.9K
Best liquidity
$122.8K
MEXC
Tightest spread
+26.4 bps
MEXC
Highest volume
$11.2K
MEXC
Settlement mix
USDT · 1/1
Perp/spot vol.
0.00x
Spot volume $28.5M
OI / float
0.00%
Float $24.4B
Spot performance
1D+3.30%
5D+22.47%
1M+0.99%
6M-15.45%
YTD-33.77%
1Y-40.65%

Venue matrix

1 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
MEXCTradeINSM/USDTTrading$113.28-12.5% APR
-0.011% every 8h
+26.4 bps$122.8K$11.2K$19.9KUSDT20x

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

Thin liquidity · 1 of 1 venues absorb $10k · Typical cost: +27.9 bps

Cheapest execution: MEXC · +27.9 bps

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

INSM

Tightest spread

INSM

Highest volume

INSM

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 41m ago
Market cap
$24.9B
Updated 41m ago
Revenue
$1.5B
Trailing 12 months
Revenue growth
+203%
Next fiscal year
Profit margin
-39.9%
P/E
-40.4
Peer P/E 28.1
Free cash flow
-$657.6M
Trailing 12 months
More metrics
Net income
-$605.6M
Trailing 12 months
P/S
16.4
Peer P/E
28.1
Similar listed perps
Revenue estimate
$1.8B
Next fiscal year
Earnings
2027-02-18
Revenue est. $593.7M · Updated 41m ago
Dividend
-

Fundamental detail

Annual + quarterly
Latest revenue$606.4M
Net margin-210.5%
Free cash flow-$967.6M
Net debt$257.7M
2020$164.4M
2021$188.5M
2022$245.4M
2023$305.2M
2024$363.7M
2025$606.4M
PeriodRevenueGrowthNet incomeFCF
2020$164.4M+20%-$294.1M-$226.2M
2021$188.5M+15%-$434.7M-$370.6M
2022$245.4M+30%-$481.5M-$410.3M
2023$305.2M+24%-$749.6M-$549.5M
2024$363.7M+19%-$913.8M-$705.8M
2025$606.4M+67%-$1.3B-$967.6M
PeriodGross marginOperating marginNet marginROEROA
2020+75.7%-161.3%-178.9%-106.6%-36.9%
2021+76.6%-199.0%-230.6%-105.9%-35.0%
2022+77.5%-186.4%-196.3%-547.5%-29.1%
2023+78.5%-232.5%-245.6%+225.8%-56.4%
2024+76.4%-241.5%-251.2%-320.2%-45.1%
2025+79.4%-194.0%-210.5%-172.8%-56.4%
PeriodCashDebtNet debtCurrent ratio
2020$532.8M$404.8M-$127.9M5.24
2021$716.8M$612.3M-$104.5M6.19
2022$1.1B$1.2B$103.8M6.69
2023$482.4M$1.2B$721.6M4.12
2024$555M$1.3B$759.1M5.45
2025$510.4M$768.2M$257.7M3.83
PeriodMarket capEnterprise valueP/SP/E
2020$3.2B$3.1B19.8-11.1
2021$3.1B$2.9B16.2-7.0
2022$2.5B$2.6B10.0-5.1
2023$4.4B$5.1B14.3-5.8
2024$11.3B$12.1B31.1-12.4
2025$37.2B$37.4B61.3-27.2
Q4 2024$104.4M
Q1 2025$92.8M
Q2 2025$107.4M
Q3 2025$142.3M
Q4 2025$263.8M
Q1 2026$306M
Q2 2026$425.5M
Q3 2026$524.4M
PeriodRevenueGrowthNet incomeFCF
Q4 2024$104.4M+25%-$235.5M-$202.8M
Q1 2025$92.8M+23%-$256.6M-$272.2M
Q2 2025$107.4M+19%-$321.7M-$209.1M
Q3 2025$142.3M+52%-$370M-$222.2M
Q4 2025$263.8M+153%-$328.5M-$294.2M
Q1 2026$306M+230%-$163.6M-$226.2M
Q2 2026$425.5M+296%-$13.2M-$95.1M
Q3 2026$524.4M+268%-$100.3M-$42.1M
PeriodGross marginOperating marginNet marginROEROA
Q4 2024+75.0%-220.6%-225.5%-82.5%-11.6%
Q1 2025+77.1%-267.3%-276.4%-258.8%-14.2%
Q2 2025+73.9%-291.3%-299.5%-25.7%-13.0%
Q3 2025+79.4%-257.1%-260.0%-39.1%-15.7%
Q4 2025+83.2%-94.6%-124.5%-44.5%-14.5%
Q1 2026+83.8%-65.5%-53.5%-23.2%-7.9%
Q2 2026+84.2%-0.4%-3.1%-1.7%-0.6%
Q3 2026+85.1%-17.0%-19.1%-13.8%-4.5%
PeriodCashDebtNet debtCurrent ratio
Q4 2024$555M$1.3B$759.1M5.45
Q1 2025$403.2M$1.3B$906.3M5.86
Q2 2025$1.3B$743.3M-$541M6.68
Q3 2025$334.8M$745.1M$410.3M4.63
Q4 2025$510.4M$768.2M$257.7M3.83
Q1 2026$582.2M$748.4M$166.2M4.47
Q2 2026$544.8M$579.9M$35.1M3.72
Q3 2026$396.6M$741.2M$344.6M2.86
PeriodMarket capEnterprise valueP/SP/E
Q4 2024$12.4B$13.1B118.3-13.1
Q1 2025$13.8B$14.7B148.6-13.4
Q2 2025$19.1B$18.5B177.4-14.8
Q3 2025$30.4B$30.9B213.9-20.6
Q4 2025$37.2B$37.4B140.9-28.3
Q1 2026$35.2B$35.4B115.2-53.8
Q2 2026$23.2B$23.2B54.5-444.3
Q3 2026$25B$25.3B47.6-62.0

Refreshed 41m ago

Charts: revenue, profit, cash flow & valuation
Revenue$524.4MQ3 2026
$131.1M$262.2M$393.3M$524.4MQ4 2023: $83.7MQ1 2024: $75.5MQ2 2024: $90.3MQ3 2024: $93.4MQ4 2024: $104.4MQ1 2025: $92.8MQ2 2025: $107.4MQ3 2025: $142.3MQ4 2025: $263.8MQ1 2026: $306MQ2 2026: $425.5MQ3 2026: $524.4MQ4 2023Q3 2026
Net income-$100.3MQ3 2026
-$277.5M-$185M-$92.5MQ4 2023: -$186.1MQ1 2024: -$157.1MQ2 2024: -$300.6MQ3 2024: -$220.5MQ4 2024: -$235.5MQ1 2025: -$256.6MQ2 2025: -$321.7MQ3 2025: -$370MQ4 2025: -$328.5MQ1 2026: -$163.6MQ2 2026: -$13.2MQ3 2026: -$100.3MQ4 2023Q3 2026
EBITDA-$68.8MQ3 2026
-$255.7M-$165.8M-$75.8M$14.2MQ4 2023: -$162.5MQ1 2024: -$133.7MQ2 2024: -$276.9MQ3 2024: -$196.5MQ4 2024: -$211.7MQ1 2025: -$232.8MQ2 2025: -$297.1MQ3 2025: -$345.7MQ4 2025: -$302.2MQ1 2026: -$137.1MQ2 2026: $14.2MQ3 2026: -$68.8MQ4 2023Q3 2026
Free cash flow-$42.1MQ3 2026
-$220.6M-$147.1M-$73.5MQ4 2023: -$133MQ1 2024: -$188.7MQ2 2024: -$129.7MQ3 2024: -$184.6MQ4 2024: -$202.8MQ1 2025: -$272.2MQ2 2025: -$209.1MQ3 2025: -$222.2MQ4 2025: -$294.2MQ1 2026: -$226.2MQ2 2026: -$95.1MQ3 2026: -$42.1MQ4 2023Q3 2026
EPS-$0.46Q3 2026
-$1.46-$0.97-$0.48Q4 2023: -$1.28Q1 2024: -$1.06Q2 2024: -$1.94Q3 2024: -$1.27Q4 2024: -$1.32Q1 2025: -$1.42Q2 2025: -$1.7Q3 2025: -$1.75Q4 2025: -$1.54Q1 2026: -$0.76Q2 2026: -$0.06Q3 2026: -$0.46Q4 2023Q3 2026
Cash / Debt$396.6MQ3 2026
$344.8M$689.7M$1B$1.4BQ4 2023 · Cash: $482.4MQ4 2023 · Debt: $1.4BQ1 2024 · Cash: $595.7MQ1 2024 · Debt: $1.4BQ2 2024 · Cash: $1.2BQ2 2024 · Debt: $1.4BQ3 2024 · Cash: $461.5MQ3 2024 · Debt: $1.2BQ4 2024 · Cash: $555MQ4 2024 · Debt: $1.3BQ1 2025 · Cash: $403.2MQ1 2025 · Debt: $1.3BQ2 2025 · Cash: $1.3BQ2 2025 · Debt: $743.3MQ3 2025 · Cash: $334.8MQ3 2025 · Debt: $745.1MQ4 2025 · Cash: $510.4MQ4 2025 · Debt: $768.2MQ1 2026 · Cash: $582.2MQ1 2026 · Debt: $748.4MQ2 2026 · Cash: $544.8MQ2 2026 · Debt: $579.9MQ3 2026 · Cash: $396.6MQ3 2026 · Debt: $741.2MQ4 2023Q3 2026
CashDebt
Profitability+85.1%Q3 2026
-228.3%-123.8%-19.4%+85.1%Q4 2023 · Gross margin: +78.0%Q1 2024 · Gross margin: +76.9%Q2 2024 · Gross margin: +76.8%Q3 2024 · Gross margin: +77.3%Q4 2024 · Gross margin: +75.0%Q1 2025 · Gross margin: +77.1%Q2 2025 · Gross margin: +73.9%Q3 2025 · Gross margin: +79.4%Q4 2025 · Gross margin: +83.2%Q1 2026 · Gross margin: +83.8%Q2 2026 · Gross margin: +84.2%Q3 2026 · Gross margin: +85.1%Q4 2023 · Operating margin: -213.0%Q1 2024 · Operating margin: -192.7%Q2 2024 · Operating margin: -319.8%Q3 2024 · Operating margin: -228.4%Q4 2024 · Operating margin: -220.6%Q1 2025 · Operating margin: -267.3%Q2 2025 · Operating margin: -291.3%Q3 2025 · Operating margin: -257.1%Q4 2025 · Operating margin: -94.6%Q1 2026 · Operating margin: -65.5%Q2 2026 · Operating margin: -0.4%Q3 2026 · Operating margin: -17.0%Q4 2023 · Net margin: -222.3%Q1 2024 · Net margin: -208.1%Q2 2024 · Net margin: -332.8%Q3 2024 · Net margin: -236.0%Q4 2024 · Net margin: -225.5%Q1 2025 · Net margin: -276.4%Q2 2025 · Net margin: -299.5%Q3 2025 · Net margin: -260.0%Q4 2025 · Net margin: -124.5%Q1 2026 · Net margin: -53.5%Q2 2026 · Net margin: -3.1%Q3 2026 · Net margin: -19.1%Q4 2023Q3 2026
Gross marginOperating marginNet margin
Revenue growth+268.4%Q3 2026
+74.0%+148.1%+222.1%+296.1%Q4 2024: +24.8%Q1 2025: +22.9%Q2 2025: +18.9%Q3 2025: +52.4%Q4 2025: +152.6%Q1 2026: +229.6%Q2 2026: +296.1%Q3 2026: +268.4%Q4 2023Q3 2026
Shares outstanding218.8MQ3 2026
54.7M109.4M164.1M218.8MQ4 2023: 144.8MQ1 2024: 148.5MQ2 2024: 154.7MQ3 2024: 173.7MQ4 2024: 179MQ1 2025: 180.9MQ2 2025: 189.3MQ3 2025: 211.4MQ4 2025: 213.6MQ1 2026: 215.5MQ2 2026: 217.4MQ3 2026: 218.8MQ4 2023Q3 2026
Valuation-62.0Q3 2026
-279.7-115.249.4213.9Q4 2023 · P/E: -6.1Q1 2024 · P/E: -6.3Q2 2024 · P/E: -8.5Q3 2024 · P/E: -14.4Q4 2024 · P/E: -13.1Q1 2025 · P/E: -13.4Q2 2025 · P/E: -14.8Q3 2025 · P/E: -20.6Q4 2025 · P/E: -28.3Q1 2026 · P/E: -53.8Q2 2026 · P/E: -444.3Q3 2026 · P/E: -62.0Q4 2023 · P/S: 53.6Q1 2024 · P/S: 52.5Q2 2024 · P/S: 113.6Q3 2024 · P/S: 135.7Q4 2024 · P/S: 118.3Q1 2025 · P/S: 148.6Q2 2025 · P/S: 177.4Q3 2025 · P/S: 213.9Q4 2025 · P/S: 140.9Q1 2026 · P/S: 115.2Q2 2026 · P/S: 54.5Q3 2026 · P/S: 47.6Q4 2023Q3 2026
P/EP/S
Revenue$606.4M2025
$151.6M$303.2M$454.8M$606.4M2018: $9.8M2019: $136.5M2020: $164.4M2021: $188.5M2022: $245.4M2023: $305.2M2024: $363.7M2025: $606.4M20182025
Net income-$1.3B2025
-$957.6M-$638.4M-$319.2M2018: -$324.3M2019: -$254.3M2020: -$294.1M2021: -$434.7M2022: -$481.5M2023: -$749.6M2024: -$913.8M2025: -$1.3B20182025
EBITDA-$1.2B2025
-$878.6M-$585.8M-$292.9M2018: -$295.2M2019: -$217.1M2020: -$250.4M2021: -$383.6M2022: -$447.4M2023: -$660.2M2024: -$818.8M2025: -$1.2B20182025
Free cash flow-$967.6M2025
-$725.7M-$483.8M-$241.9M2018: -$272.8M2019: -$292.9M2020: -$226.2M2021: -$370.6M2022: -$410.3M2023: -$549.5M2024: -$705.8M2025: -$967.6M20182025
EPS-$6.412025
-$4.81-$3.21-$1.62018: -$4.222019: -$3.012020: -$3.012021: -$3.882022: -$3.912023: -$5.342024: -$5.572025: -$6.4120182025
Cash / Debt$510.4M2025
$328.5M$657.1M$985.6M$1.3B2018 · Cash: $495.1M2018 · Debt: $316.6M2019 · Cash: $487.4M2019 · Debt: $397M2020 · Cash: $532.8M2020 · Debt: $404.8M2021 · Cash: $716.8M2021 · Debt: $612.3M2022 · Cash: $1.1B2022 · Debt: $1.2B2023 · Cash: $482.4M2023 · Debt: $1.2B2024 · Cash: $555M2024 · Debt: $1.3B2025 · Cash: $510.4M2025 · Debt: $768.2M20182025
CashDebt
Profitability+79.4%2025
-2,452.3%-1,607.5%-762.6%+82.3%2018 · Gross margin: +75.4%2019 · Gross margin: +82.3%2020 · Gross margin: +75.7%2021 · Gross margin: +76.6%2022 · Gross margin: +77.5%2023 · Gross margin: +78.5%2024 · Gross margin: +76.4%2025 · Gross margin: +79.4%2018 · Operating margin: -3,124.9%2019 · Operating margin: -172.4%2020 · Operating margin: -161.3%2021 · Operating margin: -199.0%2022 · Operating margin: -186.4%2023 · Operating margin: -232.5%2024 · Operating margin: -241.5%2025 · Operating margin: -194.0%2018 · Net margin: -3,297.2%2019 · Net margin: -186.4%2020 · Net margin: -178.9%2021 · Net margin: -230.6%2022 · Net margin: -196.3%2023 · Net margin: -245.6%2024 · Net margin: -251.2%2025 · Net margin: -210.5%20182025
Gross marginOperating marginNet margin
Revenue growth+66.7%2025
+321.9%+643.8%+965.7%+1,287.6%2019: +1,287.6%2020: +20.5%2021: +14.6%2022: +30.2%2023: +24.4%2024: +19.2%2025: +66.7%20182025
Shares outstanding213.6M2025
53.4M106.8M160.2M213.6M2018: 76.9M2019: 84.6M2020: 97.6M2021: 112.1M2022: 123M2023: 140.4M2024: 164M2025: 213.6M20182025
Valuation-27.22025
5.337.770.1102.52018 · P/E: -3.12019 · P/E: -7.92020 · P/E: -11.12021 · P/E: -7.02022 · P/E: -5.12023 · P/E: -5.82024 · P/E: -12.42025 · P/E: -27.22018 · P/S: 102.52019 · P/S: 14.82020 · P/S: 19.82021 · P/S: 16.22022 · P/S: 10.02023 · P/S: 14.32024 · P/S: 31.12025 · P/S: 61.320182025
P/EP/S

Next catalyst

Catalysts

Earnings
2027-02-18
Revenue est. $593.7M · Updated 41m ago

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 2026-1.57$1.8B+203%12
FY 20270.74$2.9B+386%15
FY 20283.08$3.9B+547%15
FY 20296.43$5B+720%9
FY 203010.13$6.2B+926%6
Q1 2027-0.18$611M+100%5

Company events

6
2027-02-18EarningsActual - / Estimate -0.26-
2026-10-29EarningsActual -0.46 / Estimate -0.38Miss
2026-08-06EarningsActual -0.06 / Estimate -0.67Beat
2026-05-07EarningsActual -0.76 / Estimate -0.96Beat
2026-02-19EarningsActual -1.54 / Estimate -1.07Miss
2025-10-30EarningsActual -1.75 / Estimate -1.33Miss

Peer comparison

Similar listed perps

Analyst track record

How the analysts covering INSM have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings213510
Analysts3139
Buy / hold / sell205 / 8 / 0497 / 13 / 0
Upgrades / downgrades / initiations1 / 1 / 91 / 2 / 20
Price targets hit / missed0 / 197 (0%)201 / 259 (44%)
Avg. return after a rating (TipRanks)-44.6%+4.3%
Best / worst call-21.4% / -58.0%+222.9% / -58.0%

After buy calls on this stock: median 21-day move +1.4% vs S&P 500 +1.0% (n = 479)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Jason ZemanskyBank of America Securities100% hit rate on this stock · 30 targets measuredBuytarget $207Oct 12, 2026
  2. Graig SuvannavejhMizuho Securities100% hit rate on this stock · 24 targets measuredBuytarget $154Oct 29, 2026
  3. Ritu BaralTD Cowen100% hit rate on this stock · 22 targets measuredBuytarget $243Aug 6, 2026

Latest ratings

DateAnalystCallTarget
Oct 30, 2026Conor MacKayBMO CapitalBuyMaintained$192
Oct 30, 2026Ashwani VermaUBSBuyMaintained$172
Oct 29, 2026Leonid TimashevRBC CapitalBuyMaintained$195
Oct 30, 2026Maxwell SkorMorgan StanleyBuyMaintained$213
Oct 30, 2026Andrea NewkirkGoldman SachsBuyMaintained$194

TipRanks data via FMP · computed Oct 30, 2026 · 213 ratings

Frequently asked questions

Where can I trade INSM perpetual futures?

Insmed Incorporated (INSM) perpetual futures trade on 1 crypto venues, including MEXC. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade INSM around the clock?

Yes. Unlike the underlying stock, INSM perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on INSM perpetuals?

Right now the INSM perp funding rate is -12.5% annualized (venue median), ranging from -12.5% to -12.5% across 1 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the INSM perp price compare to the Insmed Incorporated stock?

The venue-median INSM perp mark is $113.3 versus a reference stock price of $113.3, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a INSM perpetual future?

A INSM perpetual is a derivative that tracks the price of Insmed Incorporated with no expiry date. It lets you take long or short exposure to Insmed Incorporated on crypto venues, around the clock.

What is INSMUSDT perpetual?

INSMUSDT is the symbol most crypto exchanges use for the Insmed Incorporated perpetual settled in USDT (Tether). It tracks the INSM share price through an index, trades 24/7 with leverage and never expires.

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