JPMorgan Chase & Co. Has Lowered Expectations for Insmed (NASDAQ:INSM) Stock Price

Insmed (NASDAQ:INSM) had its target price dropped by JPMorgan Chase & Co. from $180.00 to $179.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 89.98% from the company’s previous close.

Several other brokerages also recently commented on INSM. Mizuho raised their target price on shares of Insmed from $204.00 to $206.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Royal Bank Of Canada reduced their price target on shares of Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Friday. Truist Financial dropped their price objective on shares of Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Roth Mkm reaffirmed a “buy” rating on shares of Insmed in a research report on Monday. Finally, Leerink Partners upped their target price on shares of Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.50.

Insmed Price Performance

Shares of Insmed stock opened at $94.22 on Monday. Insmed has a 1 year low of $70.57 and a 1 year high of $212.75. The business has a 50-day moving average of $130.45 and a two-hundred day moving average of $154.65. The company has a market capitalization of $20.42 billion, a P/E ratio of -16.39 and a beta of 0.79. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. During the same quarter in the previous year, the business posted ($1.42) EPS. Insmed’s revenue for the quarter was up 229.7% on a year-over-year basis. As a group, equities analysts predict that Insmed will post -2.56 EPS for the current year.

Insider Buying and Selling at Insmed

In other news, insider Michael Alexander Smith sold 2,159 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $220,800.93. Following the completion of the transaction, the insider owned 39,454 shares in the company, valued at $4,034,960.58. This trade represents a 5.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Roger Adsett sold 2,370 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $242,379.90. Following the completion of the transaction, the chief operating officer owned 98,603 shares of the company’s stock, valued at $10,084,128.81. The trade was a 2.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 160,482 shares of company stock valued at $24,438,193 over the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Insmed by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company’s stock valued at $3,668,127,000 after buying an additional 1,140,524 shares during the last quarter. Darwin Global Management Ltd. increased its holdings in Insmed by 2.3% during the fourth quarter. Darwin Global Management Ltd. now owns 20,933,277 shares of the biopharmaceutical company’s stock worth $3,644,274,000 after buying an additional 475,832 shares during the last quarter. Capital International Investors raised its position in Insmed by 1.0% during the third quarter. Capital International Investors now owns 7,553,853 shares of the biopharmaceutical company’s stock worth $1,087,830,000 after acquiring an additional 74,994 shares in the last quarter. State Street Corp raised its position in Insmed by 30.6% during the fourth quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock worth $905,312,000 after acquiring an additional 1,217,390 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in Insmed by 49.0% in the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock valued at $711,076,000 after acquiring an additional 1,623,342 shares during the last quarter.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.