Insmed Inc. (INSM) Shares Up 2.8%
Insmed Inc. (NASDAQ:INSM)’s share price shot up 2.8% on Friday . The stock traded as high as $11.41 and last traded at $11.40, with a volume of 393,312 shares. The stock had previously closed at $11.09.
Several equities analysts have commented on INSM shares. Zacks Investment Research raised Insmed from a “sell” rating to a “hold” rating in a report on Monday, May 2nd. Cowen and Company reaffirmed a “buy” rating on shares of Insmed in a report on Sunday, April 17th. HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a report on Wednesday, June 15th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $24.00 price target on shares of Insmed in a report on Thursday, June 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $23.57.
The company’s market cap is $705.40 million. The firm’s 50 day moving average is $10.70 and its 200-day moving average is $12.41.
Insmed (NASDAQ:INSM) last released its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by $0.02. Equities research analysts predict that Insmed Inc. will post ($2.21) earnings per share for the current year.
Several hedge funds recently added to or reduced their stakes in INSM. Jennison Associates LLC increased its stake in Insmed by 0.4% in the fourth quarter. Jennison Associates LLC now owns 1,168,760 shares of the biopharmaceutical company’s stock worth $21,213,000 after buying an additional 4,159 shares in the last quarter. Tekla Capital Management LLC acquired a new position in shares of Insmed during the fourth quarter worth $2,842,000. ProShare Advisors LLC increased its position 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 worth $1,065,000 after buying an additional 5,686 shares during the period. Rhumbline Advisers increased its position in shares of Insmed by 7.9% in the fourth quarter. Rhumbline Advisers now owns 64,811 shares of the biopharmaceutical company’s stock worth $1,176,000 after buying an additional 4,735 shares during the period. Finally, 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 worth $2,068,000 after buying an additional 1,804 shares during the period.
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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