JPMorgan Chase & Co. Increases Insmed (NASDAQ:INSM) Price Target to $83.00

Insmed (NASDAQ:INSM) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $74.00 to $83.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 13.47% from the stock’s current price.

A number of other analysts have also issued reports on the stock. TD Cowen lifted their price target 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. Truist Financial restated a “buy” rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. UBS Group boosted their target price on shares of Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Bank of America raised their target price on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Insmed currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.67.

Insmed Stock Down 0.9 %

Shares of NASDAQ:INSM opened at $73.15 on Friday. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of -13.18 and a beta of 1.12. The company has a 50 day moving average of $72.04 and a two-hundred day moving average of $66.03. Insmed has a 52-week low of $21.92 and a 52-week high of $80.53. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $93.36 million. Insmed’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.10) EPS. As a group, analysts forecast that Insmed will post -5.42 earnings per share for the current fiscal year.

Insider Activity at Insmed

In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the company’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 completion of the sale, the insider now directly owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. This represents a 29.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the transaction, the insider now owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. This trade represents a 11.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,882 shares of company stock worth $5,765,446 over the last quarter. 4.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Insmed

A number of hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its holdings in shares of Insmed by 8.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 135 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Insmed by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock valued at $324,000 after purchasing an additional 149 shares during the period. CWM LLC lifted its position in shares of Insmed by 11.0% in the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 155 shares in the last quarter. Commerce Bank boosted its holdings in shares of Insmed by 2.4% during the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock worth $499,000 after purchasing an additional 163 shares during the period. Finally, GAMMA Investing LLC grew its position in Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 224 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.