Insmed Inc. (NASDAQ:INSM) shares shot up 1.9% during mid-day trading on Thursday . The stock traded as high as $13.20 and last traded at $13.20, with a volume of 73,895 shares. The stock had previously closed at $12.95.

Several research firms have issued reports on INSM. Piper Jaffray Cos. set a $24.00 price objective on Insmed and gave the stock a “buy” rating in a research report on Sunday, August 21st. Zacks Investment Research upgraded Insmed from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. Finally, HC Wainwright reiterated a “buy” rating on shares of Insmed in a research report on Wednesday, June 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Insmed has a consensus rating of “Buy” and an average target price of $23.57.

The stock’s market capitalization is $828.53 million. The firm’s 50-day moving average price is $11.92 and its 200 day moving average price is $11.83.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.56) by $0.03. On average, equities analysts forecast that Insmed Inc. will post ($2.25) EPS for the current year.

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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