Insmed Incorporated (INSM) is trading at $20.89 as of 2:21 PM on Monday, Jan 7, a gain of $6.04, or 40.64% from the previous closing price of $14.85. The stock has traded between $18.30 and $21.37 so far today. Volume today is elevated. So far 4,279,948 shares have traded compared to average volume of 862,143 shares.
Insmed, Inc. was granted accelerated approval for ARIKAYCE by the FDA on September 28th. ARIKAYCE is used for the treatment of the lung disease Mycobacterium. Following Friday’s close, the company said that more than 500 patients have been treated with the drug as of December 31st, and that the company is planning to accelerate global expansion in 2019-2020, following full approval by the FDA early this year.
Meanwhile, the major indices are rallying. The NASDAQ has risen 1.42% to 6,834.31. The S&P 500 is higher by 1.03% to 2,558.00. The Dow Jones Industrial Average is higher by 0.68% to 23,592.12.
Stock Score Report, InvestorsObserver’s proprietary scoring system gives INSM a score of 72 out of a possible 100. That score is based on three component scores. A fundamental score of 46, a long-term technical score of 79 and a short-term technical score of 92. Our proprietary system combines short and long-term technical factors, Wall Street’s opinion, and other fundamental factors into an overall score that measures a stock’s suitability for investment.”