Insmed (NASDAQ:INSM) Given New $83.00 Price Target at JPMorgan Chase & Co.

Insmed (NASDAQ:INSM) had its target price boosted by JPMorgan Chase & Co. from $74.00 to $83.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $90.00 price target on shares of Insmed in a report on Friday, November 1st. StockNews.com downgraded shares of Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Truist Financial reissued a “buy” rating and issued a $105.00 price objective (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. UBS Group lifted their target price on Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.67.

Insmed Price Performance

INSM opened at $74.09 on Friday. The company has a 50 day moving average of $72.04 and a two-hundred day moving average of $66.60. 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. The company has a market cap of $13.25 billion, a P/E ratio of -13.18 and a beta of 1.12.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The business had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. During the same quarter in the previous year, the business earned ($1.10) earnings per share. Insmed’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, analysts expect that Insmed will post -5.42 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the sale, the insider now 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 legal filing with the SEC, which is available through this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of the stock in a transaction on Monday, September 16th. The stock was 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 approximately $7,951,559.28. This trade represents a 11.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 78,882 shares of company stock valued at $5,765,446 in the last quarter. 4.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Insmed

Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in Insmed by 8.2% during the second quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 135 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Insmed by 3.5% in the third 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 in the last quarter. CWM LLC boosted its holdings in Insmed by 11.0% in the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 155 shares during the period. Commerce Bank grew its position in shares of Insmed by 2.4% during the 3rd quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock valued at $499,000 after purchasing an additional 163 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of 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 during the period.

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.