Insmed Inc. (INSM) Trading Down 3.8%
Insmed Inc. (NASDAQ:INSM)’s share price traded down 3.8% during mid-day trading on Tuesday . The company traded as low as $11.00 and last traded at $11.03, with a volume of 135,538 shares. The stock had previously closed at $11.47.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Insmed from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Wednesday, May 11th. Piper Jaffray Cos. restated an “overweight” rating and issued a $24.00 price objective on shares of Insmed in a research report on Thursday, June 9th. HC Wainwright restated a “buy” rating on shares of Insmed in a research report on Wednesday, June 15th. Finally, Cowen and Company restated a “buy” rating on shares of Insmed in a research report on Sunday, April 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Insmed has a consensus rating of “Buy” and an average target price of $23.57.
The stock’s 50 day moving average price is $10.69 and its 200-day moving average price is $12.26. The company’s market capitalization is $670.13 million.
Insmed (NASDAQ:INSM) last issued 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. Analysts anticipate that Insmed Inc. will post ($2.21) earnings per share for the current year.
Other large investors recently modified their holdings of the company. ProShare Advisors LLC raised its stake 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 stake 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 in the last quarter. California State Teachers Retirement System increased its stake 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 in the last quarter. Tekla Capital Management LLC acquired a new stake in shares of Insmed during the fourth quarter worth $2,842,000. Finally, Jennison Associates LLC increased its stake in shares of 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.
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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