Insmed (NASDAQ:INSM) Trading Up 7.9%

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

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

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

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.04. The company had revenue of $30.00 million for the quarter, compared to the consensus estimate of $26.30 million. As a group, equities analysts forecast that Insmed Incorporated will post -2.99 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of INSM. NumerixS Investment Technologies Inc purchased a new position in Insmed during the first quarter worth about $106,000. Trexquant Investment LP purchased a new position in Insmed during the first quarter worth about $1,352,000. FMR LLC grew its position in Insmed by 0.6% during the first quarter. FMR LLC now owns 11,630,784 shares of the biopharmaceutical company’s stock worth $338,107,000 after buying an additional 67,250 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Insmed during the second quarter worth about $387,000. Finally, Aperio Group LLC grew its position in Insmed by 21.0% during the second quarter. Aperio Group LLC now owns 11,402 shares of the biopharmaceutical company’s stock worth $292,000 after buying an additional 1,977 shares in the last quarter.

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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