"Insmed sell-off on Arikace data overdone, says Canaccord
Canaccord views the sell-off in shares of Insmed as overdone and keeps a Buy rating on the stock. The firm says Arikace's activity in Cystic Fibrosis is supportive of good drug localization to deep lung and upped its price target for shares to $18 from $17."
Date ...... High ... Low
July 2 ... 10.15 ... 9.67
July 3 ... 10.20 ... 9.67
July 5 ... 10.39 ... 9.57
July 8 ... 10.54 ... 9.96
July 9 ... 10.20 ... 9.85
July 18 ................ 9.776 is revealed as the price of an offering nobody knew about on July 9.
What do we think?
Did those who knew better than Canaccord and continued to sell have crystal balls?
Joanie - I'm guessing those thumbs-down ratings were allocated by people enraged by your apparent implication that Insmed watched the Russell 3000 tracker funds pay $11.96 for four or five million shares on June 28 despite having already agreed to sell six million shares to other institutional investors for over two dollars less than that after the results of the Phase III clinical trial were released.