Insmed Inc. (INSM) Shares Up 4.4%
Insmed Inc. (NASDAQ:INSM)’s share price shot up 4.4% during trading on Monday . The company traded as high as $13.28 and last traded at $13.27, with a volume of 233,891 shares. The stock had previously closed at $12.71.
A number of brokerages have commented on INSM. Zacks Investment Research upgraded shares of Insmed from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Wednesday, May 11th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $24.00 price objective on shares of Insmed in a report on Thursday, June 9th. Finally, HC Wainwright reiterated a “buy” rating on shares of Insmed in a report on Wednesday, June 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $23.57.
The stock’s 50 day moving average price is $11.37 and its 200 day moving average price is $11.82. The company’s market cap is $832.25 million.
Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by $0.03. Equities research analysts forecast that Insmed Inc. will post ($2.25) earnings per share for the current year.
An institutional investor recently raised its position in Insmed stock. Rhumbline Advisers raised its stake in Insmed Inc. (NASDAQ:INSM) by 7.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,811 shares of the biopharmaceutical company’s stock after buying an additional 4,735 shares during the period. Rhumbline Advisers owned approximately 0.10% of Insmed worth $1,176,000 as of its most recent filing with the SEC.
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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