Insmed Inc. (INSM) Stock Price Down 3.8%
Insmed Inc. (NASDAQ:INSM) shares were down 3.8% during trading on Tuesday . The stock traded as low as $11.00 and last traded at $11.03, with a volume of 135,538 shares traded. The stock had previously closed at $11.47.
A number of analysts have commented on the stock. Cowen and Company reiterated a “buy” rating on shares of Insmed in a research note on Sunday, April 17th. Zacks Investment Research upgraded shares of Insmed from a “sell” rating to a “hold” rating in a research note on Saturday, April 16th. HC Wainwright reiterated a “buy” rating on shares of Insmed in a research note on Wednesday, June 15th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $24.00 price target on shares of Insmed in a research note on Thursday, June 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $23.57.
The stock has a 50 day moving average price of $10.68 and a 200-day moving average price of $12.24. The company’s market capitalization is $691.17 million.
Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.52) by $0.02. On average, equities analysts forecast 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 the stock. ProShare Advisors LLC raised its stake in Insmed by 10.7% in the fourth quarter. ProShare Advisors LLC now owns 58,656 shares of the biopharmaceutical company’s stock valued at $1,065,000 after buying an additional 5,686 shares in the last quarter. Tekla Capital Management LLC bought a new stake in Insmed during the fourth quarter valued at $2,842,000. California State Teachers Retirement System raised its stake in Insmed by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 113,929 shares of the biopharmaceutical company’s stock valued at $2,068,000 after buying an additional 1,804 shares in the last quarter. Rhumbline Advisers raised its stake in Insmed by 7.9% in the fourth quarter. Rhumbline Advisers now owns 64,811 shares of the biopharmaceutical company’s stock valued at $1,176,000 after buying an additional 4,735 shares in the last quarter. Finally, Jennison Associates LLC raised 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 valued at $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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