Insmed Inc. (INSM) Stock Price Up 2.8%
Insmed Inc. (NASDAQ:INSM)’s share price rose 2.8% during trading on Friday . The stock traded as high as $11.41 and last traded at $11.40, with a volume of 393,312 shares changing hands. The stock had previously closed at $11.09.
INSM has been the subject of several research analyst reports. Zacks Investment Research cut Insmed from a “hold” rating to a “sell” rating in a research note on Wednesday, April 6th. Piper Jaffray Cos. restated an “overweight” rating and set a $24.00 price objective on shares of Insmed in a research note on Thursday, June 9th. HC Wainwright restated a “buy” rating on shares of Insmed in a research note on Wednesday, June 15th. Finally, Cowen and Company restated a “buy” rating on shares of Insmed in a research note on Sunday, April 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $23.57.
The firm has a 50 day moving average of $10.70 and a 200 day moving average of $12.41. The company’s market cap is $705.40 million.
Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.54) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by $0.02. On average, equities research analysts anticipate that Insmed Inc. will post ($2.21) EPS for the current fiscal year.
Other hedge funds and institutional investors have modified their holdings of the company. California State Teachers Retirement System increased its position in shares of Insmed by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 113,929 shares of the biopharmaceutical company’s stock valued at $2,068,000 after buying an additional 1,804 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Insmed by 7.9% in the fourth quarter. Rhumbline Advisers now owns 64,811 shares of the biopharmaceutical company’s stock valued at $1,176,000 after buying an additional 4,735 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Insmed by 10.7% in the fourth quarter. ProShare Advisors LLC now owns 58,656 shares of the biopharmaceutical company’s stock valued at $1,065,000 after buying an additional 5,686 shares during the last quarter. Tekla Capital Management LLC purchased a new stake in shares of Insmed during the fourth quarter valued at $2,842,000. Finally, Jennison Associates LLC raised its stake in shares of Insmed by 0.4% in the fourth quarter. Jennison Associates LLC now owns 1,168,760 shares of the biopharmaceutical company’s stock valued at $21,213,000 after buying an additional 4,159 shares during the last quarter.
Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing inhaled therapies for patients with serious lung diseases. The Company’s product candidate, ARIKAYCE, or liposomal amikacin for inhalation (LAI) is being developed for at least two identified orphan patient populations: patients with non-tuberculous mycobacteria (NTM) lung infections and cystic fibrosis (CF) patients with Pseudomonas aeruginosa (Pseudomonas) lung infections.
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