JPMorgan Chase & Co. Raises Insmed (NASDAQ:INSM) Price Target to $92.00

Insmed (NASDAQ:INSM) had its price objective lifted by JPMorgan Chase & Co. from $83.00 to $92.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently commented on INSM. HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. Truist Financial reiterated a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. Morgan Stanley boosted their target price on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Guggenheim boosted their target price on Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.00.

Insmed Price Performance

Shares of Insmed stock opened at $79.95 on Friday. The stock’s 50-day simple moving average is $72.88 and its 200-day simple moving average is $73.09. Insmed has a 52 week low of $21.92 and a 52 week high of $82.04. The company has a market capitalization of $14.30 billion, a price-to-earnings ratio of -14.41 and a beta of 1.11. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insider Activity

In other news, CFO Sara Bonstein sold 28,390 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total transaction of $2,296,751.00. Following the transaction, the chief financial officer now owns 155,506 shares of the company’s stock, valued at approximately $12,580,435.40. This represents a 15.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Martina M.D. Flammer sold 33,055 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total value of $2,674,149.50. Following the completion of the transaction, the insider now directly owns 138,053 shares in the company, valued at approximately $11,168,487.70. This trade represents a 19.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 401,030 shares of company stock valued at $30,993,629. 4.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its stake in Insmed by 65.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 163 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Insmed in the third quarter worth approximately $30,000. GAMMA Investing LLC grew its stake in Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares in the last quarter. Spire Wealth Management bought a new position in Insmed in the fourth quarter worth approximately $47,000. Finally, Exchange Traded Concepts LLC grew its stake in Insmed by 522.5% in the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 627 shares in the last quarter.

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.