Insmed Inc. (INSM) Stock Price Down 1%
Insmed Inc. (NASDAQ:INSM)’s share price fell 1% on Tuesday . The stock traded as low as $13.08 and last traded at $13.31, with a volume of 93,724 shares trading hands. The stock had previously closed at $13.44.
Several brokerages recently weighed in on INSM. Zacks Investment Research upgraded Insmed from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Wednesday, May 11th. Piper Jaffray Cos. restated an “overweight” rating and issued a $24.00 price target on shares of Insmed in a research note on Thursday, June 9th. Finally, HC Wainwright restated a “buy” rating on shares of Insmed in a research note on Wednesday, June 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $23.57.
The stock has a 50 day moving average of $11.59 and a 200-day moving average of $11.81. The stock’s market cap is $795.12 million.
Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by $0.03. On average, equities analysts anticipate that Insmed Inc. will post ($2.25) earnings per share for the current year.
A hedge fund recently raised its stake in Insmed stock. Jennison Associates LLC raised its stake in Insmed Inc. (NASDAQ:INSM) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 approximately 1.89% of Insmed worth $21,213,000 at the end of the most recent reporting period.
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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