Here's Why Insmed Slumped Lower Today [The Motley Fool]
Insmed Incorporated (INSM)
Last insmed incorporated earnings: 4/30 07:30 am
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Source: The Motley Fool
The FDA gave its new drug a thumbs-up. So why are share prices down? Brian Orelli ( TMFBiologyFool ) Oct 1, 2018 at 12:45PM What happened Shares of Insmed ( NASDAQ:INSM ) are down 16% at 12:22 EDT after the company gained Food and Drug Administration approval for its antibiotic Arikayce, which treats Mycobacterium avium complex lung disease. While certainly disappointing for shareholders, it's actually not all that uncommon for shares of a biotech to trade down after an FDA approval. So what Most of Insmed's decline today is likely just investors selling the news. The drug passed its phase 3 study -- causing shares to double overnight -- and an FDA advisory committee recommended 12–2 that the drug be approved, so a thumbs-up from the FDA was largely expected. Short-term investors are moving on to the next binary event. Image source:
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News
- Insmed Incorporated (NASDAQ: INSM) had its price target raised by analysts at Barclays PLC from $37.00 to $40.00. They now have an "overweight" rating on the stock.MarketBeat
- What Makes Insmed (INSM) a Lucrative Investment? [Yahoo! Finance]Yahoo! Finance
- Insmed Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)PR Newswire
- Insmed Incorporated (NASDAQ: INSM) had its "overweight" rating re-affirmed by analysts at Wells Fargo & Company. They now have a $55.00 price target on the stock.MarketBeat
- Insmed to Present New Data from Across its Respiratory Portfolio at the American Thoracic Society 2024 International Conference [Yahoo! Finance]Yahoo! Finance
INSM
Earnings
- 2/22/24 - Miss
INSM
Sec Filings
- 4/1/24 - Form DEFA14A
- 4/1/24 - Form DEF
- 3/11/24 - Form 8-K
- INSM's page on the SEC website