Insmed dips on planned $650 mln stock sale

Insmed's INSM.O shares down 1% after hours at $96.88 as biopharma co plans equity raise

Bridgewater, New Jersey-based Insmed announces $650 mln stock offering

Goldman Sachs and Leerink are jt bookrunners

On Tues, INSM shares soared 29% after co said its inhaled drug, treprostinil palmitil, reduced blood pressure in the lungs and improved exercise capacity in patients in mid-stage study

The shares added another 7.8% to close at $97.98 on Weds, a more than two-decade high

Co plans to use net offering proceeds for continued R&D and development of its product candidates, per the SEC filing

With ~182 mln shares outstanding, INSM has nearly $18 bln market cap

Through Weds close, stock up 42% YTD

All 19 analysts are bullish on INSM including 6 "strong buy" ratings; median PT of $110 up from $97 a month ago, latest LSEG data shows