Insmed (NASDAQ:INSM) announced its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.08), MarketWatch Earnings reports.
Shares of NASDAQ:INSM traded up $0.59 during trading on Wednesday, reaching $14.60. 57,227 shares of the company’s stock traded hands, compared to its average volume of 1,439,046. Insmed has a fifty-two week low of $13.88 and a fifty-two week high of $33.94. The company has a quick ratio of 14.14, a current ratio of 14.14 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $1.22 billion, a PE ratio of -5.07 and a beta of 1.30.
A number of research firms have recently commented on INSM. Credit Suisse Group raised their target price on Insmed from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, October 1st. HC Wainwright restated a “buy” rating and set a $43.00 target price on shares of Insmed in a research report on Friday, August 3rd. Zacks Investment Research upgraded Insmed from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, July 4th. ValuEngine cut Insmed from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 4th. Finally, Goldman Sachs Group set a $25.00 target price on Insmed and gave the company a “hold” rating in a research report on Wednesday, September 19th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $38.14.
Insmed Incorporated, a biopharmaceutical company, focuses on the development and commercialization of therapies for patients with rare diseases. The company's lead product candidate is amikacin liposome inhalation suspension, which is in late-state development for adult patients with treatment refractory nontuberculous mycobacteria lung disease caused by mycobacterium avium complex.
Recommended Story: Understanding Market Liquidity
Receive News & Ratings for Insmed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insmed and related companies with MarketBeat.com's FREE daily email newsletter.