Insmed Inc. (INSM) Shares Up 4.9%
Insmed Inc. (NASDAQ:INSM) shares shot up 4.9% on Monday . The stock traded as high as $12.53 and last traded at $12.49, with a volume of 125,660 shares. The stock had previously closed at $11.91.
Several brokerages recently weighed in on INSM. Zacks Investment Research raised Insmed from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a research report on Wednesday, June 15th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $24.00 target price on shares of Insmed in a research report on Thursday, June 9th. One 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 stock presently has an average rating of “Buy” and a consensus price target of $23.57.
The company’s market cap is $756.14 million. The company’s 50-day moving average is $11.15 and its 200-day moving average is $11.82.
Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.56) by $0.03. On average, equities research analysts anticipate that Insmed Inc. will post ($2.25) EPS for the current fiscal year.
An institutional investor recently raised its position in Insmed stock. Jennison Associates LLC boosted its stake in Insmed Inc. (NASDAQ:INSM) by 0.4% during the fourth quarter, according to its most recent 13F filing with the SEC. 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 about 1.89% of Insmed worth $21,213,000 at the end of the most recent quarter.
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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