Insmed Incorporated (INSM - Free Report) was a big mover last session, as the company saw its shares rise nearly 120% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $11.61 to $13.46 in the past one month time frame.
The move came after the company announced favorable top-line results from its Phase 3 CONVERT Study, which deals with the treatment of a rare lung disease caused by bacterial infection. ALIS – an inhaled antibiotic – is likely to cure this disease.
The company has seen three negative estimate revisions in the past one month, while its Zacks Consensus Estimate has also moved lower over the same time period, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Insmed currently has a Zacks Rank #3 (Hold), while its Earnings ESP is 0.00%.
Investors interested in the Medical - Biomedical and Genetics industry may consider a better-ranked stock like Ligand Pharmaceuticals Incorporated (LGND - Free Report) , which carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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