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• If you are trying to figure out whether Insmed’s current share price makes sense, you are in the right place for a clear look at what the market might be pricing in.

• The stock trades at US$148.75 after a 0.7% decline over the last week and a 6.6% decline over the last month, yet it still shows an 87.6% return over 1 year and a very large return over 3 years.

• Those moves are set against a backdrop of ongoing interest in Insmed as a biotechnology name. Investors are watching how its drug pipeline, regulatory milestones, partnerships and funding activity shape…