According to Zacks, “Insmed is a biopharmaceutical company engaged in the development and commercialization of ARIKAYCE, or liposomal amikacin for inhalation, for at least two identified orphan patient populations: patients with nontuberculous mycobacteria (NTM) lung infections and cystic fibrosis (CF) patients with Pseudomonas aeruginosa lung infections. Insmed is also focused on the development of INS1009, the company’s inhaled treprostinil prodrug for the treatment of pulmonary arterial hypertension (PAH), a chronic, life-threatening disorder characterized by abnormally high blood pressure in the arteries between the heart and lungs. “
A number of other brokerages have also recently commented on INSM. HC Wainwright reaffirmed a buy rating on shares of Insmed in a report on Wednesday, June 15th. Piper Jaffray Cos. set a $24.00 target price on shares of Insmed and gave the company a buy rating in a report on Sunday, August 21st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $23.57.
Shares of Insmed (NASDAQ:INSM) opened at 14.57 on Wednesday. Insmed has a 12-month low of $9.02 and a 12-month high of $21.14. The company has a 50-day moving average price of $13.30 and a 200 day moving average price of $12.01. The firm’s market capitalization is $901.55 million.
Insmed (NASDAQ:INSM) last announced its quarterly 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. On average, equities analysts expect that Insmed will post ($2.25) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in Insmed during the fourth quarter valued at about $8,050,000. Teachers Advisors Inc. raised its position in shares of Insmed by 1.2% in the first quarter. Teachers Advisors Inc. now owns 306,146 shares of the biopharmaceutical company’s stock valued at $3,879,000 after buying an additional 3,658 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Insmed by 1.8% in the first quarter. BlackRock Fund Advisors now owns 2,291,187 shares of the biopharmaceutical company’s stock valued at $29,029,000 after buying an additional 41,193 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Insmed by 4.3% in the first quarter. Geode Capital Management LLC now owns 424,851 shares of the biopharmaceutical company’s stock valued at $5,382,000 after buying an additional 17,708 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Insmed during the first quarter valued at $2,329,000. 90.57% of the stock is owned by hedge funds and other institutional investors.
Insmed Company Profile
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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