Insmed Inc. (INSM) Shares Up 4.4%
Insmed Inc. (NASDAQ:INSM)’s share price shot up 4.4% on Monday . The company traded as high as $13.28 and last traded at $13.27, with a volume of 233,891 shares. The stock had previously closed at $12.71.
A number of research firms have recently weighed in on INSM. Piper Jaffray Cos. set a $24.00 price target on Insmed and gave the stock a “buy” rating in a report on Sunday. Zacks Investment Research upgraded Insmed from a “sell” rating to a “hold” rating in a research note on Monday, May 2nd. Finally, HC Wainwright reiterated a “buy” rating on shares of Insmed in a research note on Wednesday, June 15th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $23.57.
The firm’s market capitalization is $847.10 million. The company’s 50-day moving average is $11.52 and its 200-day moving average is $11.81.
Insmed (NASDAQ:INSM) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by $0.03. Equities research analysts predict that Insmed Inc. will post ($2.25) EPS for the current fiscal year.
A hedge fund recently raised its stake in Insmed stock. Jennison Associates LLC boosted its position in Insmed Inc. (NASDAQ:INSM) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 1.89% of Insmed worth $21,213,000 as of its most recent SEC filing.
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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