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

Insmed (NASDAQ:INSM) had its price objective raised by JPMorgan Chase & Co. from $74.00 to $83.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Several other equities research analysts also recently weighed in on the company. Bank of America increased their price target on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. StockNews.com downgraded shares of Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a report on Monday, September 9th. Stifel Nicolaus lifted their price objective on Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, UBS Group increased their target price on Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.67.

Insmed Trading Up 1.3 %

Shares of Insmed stock opened at $74.09 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The company has a market capitalization of $13.25 billion, a P/E ratio of -13.18 and a beta of 1.12. Insmed has a 1 year low of $21.92 and a 1 year high of $80.53. The company’s fifty day moving average is $72.04 and its two-hundred day moving average is $66.60.

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

Insider Buying and Selling at Insmed

In other Insmed 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 transaction of $2,072,208.85. Following the sale, the insider now directly owns 67,856 shares of the company’s stock, valued at $5,045,093.60. This trade represents a 29.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Martina M.D. Flammer sold 13,436 shares of the business’s 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 completion of the transaction, the insider now directly owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. This 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 valued at $5,765,446 over the last quarter. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Insmed

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in shares of Insmed by 15,915.2% in the first quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company’s stock valued at $600,000 after purchasing an additional 21,963 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Insmed by 1.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 38,232 shares of the biopharmaceutical company’s stock worth $1,037,000 after acquiring an additional 610 shares during the period. Vanguard Group Inc. boosted its position in shares of Insmed by 2.7% in the first quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock worth $393,636,000 after acquiring an additional 383,714 shares during the last quarter. Natixis purchased a new stake in Insmed in the first quarter valued at approximately $191,000. Finally, Shell Asset Management Co. acquired a new position in Insmed during the first quarter worth approximately $412,000.

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.