Nov. 26 at 2:14 PM
$INSM $44.5B market cap, as of 11/26/25, is now higher than the
$42B enterprise value
$PFE paid to acquire
$SGEN
INSM is up over 200% since publishing TPIP's data in PAH in early June 2025.
The attachment compares INSM 10-year analyst consensus revenue estimates per Seeking Alpha as of 11/26/25 (excl. 1 outlier) to the 10-year revenue forecast SGEN provided Pfizer.
Put simply, we're considering selling INSM (our best performing stock of the year). We're genuinely curious if INSM investors see meaningful opportunity in INSM's other pipeline manifesting in even higher revenue projections.
Excluding gross margin consideration (which one should never do), if revenue forecasts are almost identical, why would INSM be worth more than SGEN? In fact SGEN's forecasts are 10% higher over the 10-year period. SGEN forecast 79% gross margins over the 10-year period
This is not investment advice. We're not bashing INSM either. I wish we owned more.
$XBI $IBB
