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

Insmed (NASDAQ:INSM) had its price objective hoisted by analysts at JPMorgan Chase & Co. from $72.00 to $74.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 2.39% from the company’s previous close.

Several other equities analysts also recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Insmed in a research note on Thursday, August 29th. Stifel Nicolaus lifted their target price on shares of Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Truist Financial cut their price objective on shares of Insmed from $88.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Mizuho raised their price objective on shares of Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Finally, Evercore ISI raised their price objective on shares of Insmed from $42.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.53.

Insmed Stock Performance

NASDAQ INSM opened at $72.27 on Thursday. The company has a market capitalization of $10.74 billion, a PE ratio of -13.82 and a beta of 1.11. The company has a debt-to-equity ratio of 25.05, a quick ratio of 2.53 and a current ratio of 2.71. The company has a 50-day simple moving average of $74.03 and a 200 day simple moving average of $55.02. Insmed has a 52-week low of $21.92 and a 52-week high of $80.53.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The firm had revenue of $90.34 million for the quarter, compared to analysts’ expectations of $87.95 million. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the firm earned ($1.78) EPS. On average, research analysts predict that Insmed will post -5.42 EPS for the current year.

Insiders Place Their Bets

In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction that occurred on 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 directly owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the company’s 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 completion of the sale, the insider now directly owns 100,100 shares in the company, valued at $7,157,150. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction on 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 sale, the insider now owns 106,134 shares of the company’s stock, valued at $7,951,559.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,882 shares of company stock valued at $5,765,446. 4.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Insmed

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in Insmed in the 1st quarter worth $33,000. Fidelis Capital Partners LLC bought a new position in Insmed in the 1st quarter worth $34,000. First Horizon Advisors Inc. raised its holdings in Insmed by 83.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 287 shares in the last quarter. Headlands Technologies LLC bought a new position in Insmed in the 1st quarter worth $59,000. Finally, CWM LLC raised its holdings in Insmed by 11.0% in the 2nd 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.

About Insmed

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.