JPMorgan Chase & Co. Boosts Insmed (NASDAQ:INSM) Price Target to $74.00

Insmed (NASDAQ:INSM) had its target price boosted by analysts at JPMorgan Chase & Co. from $72.00 to $74.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 0.97% from the stock’s current price.

Other equities analysts have also issued reports about the company. Mizuho lifted their price objective on Insmed from $36.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Truist Financial lowered their price target on shares of Insmed from $88.00 to $85.00 and set a “buy” rating for the company in a report on Monday, August 12th. The Goldman Sachs Group upped their price objective on shares of Insmed from $74.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. TD Cowen lifted their target price on shares of Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, StockNews.com lowered shares of Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.53.

Insmed Trading Up 0.4 %

INSM traded up $0.27 during trading on Thursday, reaching $73.29. 283,098 shares of the company’s stock were exchanged, compared to its average volume of 2,400,022. The firm has a fifty day moving average price of $74.13 and a two-hundred day moving average price of $54.58. The stock has a market capitalization of $10.89 billion, a PE ratio of -14.01 and a beta of 1.11. Insmed has a one year low of $21.92 and a one year high of $80.53. The company has a current ratio of 2.71, a quick ratio of 2.53 and a debt-to-equity ratio of 25.05.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The company had revenue of $90.34 million during the quarter, compared to analyst estimates of $87.95 million. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period last year, the firm earned ($1.78) EPS. As a group, equities research analysts forecast that Insmed will post -5.42 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the transaction, the insider now owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Insmed news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of Insmed stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the transaction, the insider now directly owns 100,100 shares of the company’s stock, valued at approximately $7,157,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the sale, the insider now owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock worth $5,765,446 over the last three months. 4.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INSM. Vestal Point Capital LP purchased a new stake in Insmed during the fourth quarter worth about $27,891,000. Seven Eight Capital LP lifted its stake in Insmed by 85.9% in the fourth quarter. Seven Eight Capital LP now owns 96,777 shares of the biopharmaceutical company’s stock valued at $2,999,000 after purchasing an additional 44,726 shares during the last quarter. Artia Global Partners LP bought a new position in shares of Insmed during the 4th quarter worth $2,322,000. First Light Asset Management LLC increased its stake in shares of Insmed by 0.4% in the fourth quarter. First Light Asset Management LLC now owns 646,057 shares of the biopharmaceutical company’s stock worth $20,021,000 after purchasing an additional 2,469 shares in the last quarter. Finally, Parkman Healthcare Partners LLC raised its holdings in Insmed by 20.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 150,816 shares of the biopharmaceutical company’s stock valued at $4,674,000 after acquiring an additional 25,816 shares during the period.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.