Insmed (NASDAQ:INSM) Trading Up 7.9%

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Insmed Incorporated (NASDAQ:INSM)’s stock price was up 7.9% during mid-day trading on Friday . The stock traded as high as $17.66 and last traded at $17.40, approximately 1,132,046 shares traded hands during mid-day trading. An increase of 6% from the average daily volume of 1,065,895 shares. The stock had previously closed at $16.12.

Several research analysts have recently issued reports on INSM shares. BidaskClub lowered Insmed from a “sell” rating to a “strong sell” rating in a research report on Friday. Zacks Investment Research lowered Insmed from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Goldman Sachs Group started coverage on Insmed in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $30.00 target price for the company. ValuEngine lowered Insmed from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, Credit Suisse Group restated a “buy” rating and issued a $40.00 price target on shares of Insmed in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $35.71.

The firm has a 50 day simple moving average of $17.59 and a 200 day simple moving average of $23.41. The company has a current ratio of 7.54, a quick ratio of 7.31 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $1.44 billion, a PE ratio of -4.17 and a beta of 2.97.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.04. The business had revenue of $30.00 million for the quarter, compared to analysts’ expectations of $26.30 million. Research analysts forecast that Insmed Incorporated will post -2.99 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new position in shares of Insmed in the 2nd quarter worth $34,000. Riverhead Capital Management LLC bought a new position in Insmed in the 2nd quarter worth $73,000. NumerixS Investment Technologies Inc bought a new position in Insmed in the 1st quarter worth $106,000. Tyers Asset Management LLC raised its holdings in Insmed by 1,002.5% in the 2nd quarter. Tyers Asset Management LLC now owns 7,056 shares of the biopharmaceutical company’s stock worth $181,000 after purchasing an additional 6,416 shares during the period. Finally, Elkfork Partners LLC raised its holdings in Insmed by 1,002.5% in the 2nd quarter. Elkfork Partners LLC now owns 9,702 shares of the biopharmaceutical company’s stock worth $248,000 after purchasing an additional 8,822 shares during the period.

About Insmed (NASDAQ:INSM)

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE┬« (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.

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