Insmed Inc. (INSM) Trading 4.9% Higher
Insmed Inc. (NASDAQ:INSM) traded up 4.9% during mid-day trading on Monday . The company traded as high as $12.53 and last traded at $12.49, with a volume of 125,660 shares trading hands. The stock had previously closed at $11.91.
A number of equities research analysts recently issued reports on the company. Cowen and Company reaffirmed a “buy” rating on shares of Insmed in a research note on Sunday, April 17th. Zacks Investment Research raised Insmed from a “sell” rating to a “hold” rating in a research note on Monday, May 2nd. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $24.00 target price on shares of Insmed in a research note on Thursday, June 9th. Finally, HC Wainwright reiterated a “buy” rating on shares of Insmed in a report on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $23.57.
The company has a 50 day moving average price of $11.06 and a 200-day moving average price of $11.83. The stock’s market capitalization is $775.94 million.
Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.59) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.56) by $0.03. Analysts predict that Insmed Inc. will post ($2.24) earnings per share for the current year.
An institutional investor recently raised its position in Insmed stock. Jennison Associates LLC increased its position in shares of Insmed Inc. (NASDAQ:INSM) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,168,760 shares of the biopharmaceutical company’s stock after buying an additional 4,159 shares during the period. Jennison Associates LLC owned 1.89% of Insmed worth $21,213,000 as of its most recent SEC filing.
Insmed Incorporated is a biopharmaceutical company. The Company operates in the segment of development and commercialization of inhaled therapies for patients with serious lung diseases. The Company’s lead product candidate, ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for patients with nontuberculous mycobacteria (NTM) lung disease, a rare and often chronic infection that is capable of causing irreversible lung damage and can be fatal.
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