Jim Cramer on Insmed: “This One Is Worth Keeping an Eye On”

Insmed Incorporated (NASDAQ:INSM) is one of the S&P 500 and Nasdaq-100 stocks Jim Cramer commented on. Cramer highlighted the stock’s stellar performance for the year and the reason behind it, as he said:

“First there’s one that, jeez, eluded me, it’s called Insmed. That’s a biopharma company that ended last year up 152% for the fifth best performer in the Nasdaq-100. Now, this company is focused on developing drugs for rare diseases and they got an FDA approval from one of their top drug candidates last year. It was a treatment for a lung condition called non-cystic fibrosis bronchiectasis. Now, Wall Street’s bullish because the drug seems to be a powerful anti-inflammatory. And remember, these are what’s known as orphan drugs and they are protected by Congress… a long time ago and been for a long time. Now, Insmed has come down a bit from its highs. The stock pulled back about 18% from its early December peak largely because the drug that just got approved saw a disappointing clinical trial result in chronic sinusitis. Still, this one is worth keeping an eye on. And I admit, I had not been following it until the review. That’s one of the reasons I like these reviews so much. Insmed, didn’t know it. Now I do.”

Source: Unsplash

Insmed Incorporated (NASDAQ:INSM) develops and commercializes treatments for serious and rare diseases, with an approved therapy for complex lung infections and some late and mid-stage clinical programs.

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Disclosure: None. This article is originally published at Insider Monkey.