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

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

A number of other research firms have also commented on INSM. TD Cowen increased their price target on Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Insmed in a research report on Friday, November 1st. Bank of America increased their price target on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Truist Financial reissued a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.67.

Insmed Price Performance

Shares of INSM opened at $73.15 on Friday. Insmed has a 52-week low of $21.92 and a 52-week high of $80.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The business’s 50 day moving average price is $72.07 and its two-hundred day moving average price is $65.70.

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

Insider Transactions at Insmed

In other news, 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 completion of the transaction, the insider now owns 106,134 shares in the company, valued at approximately $7,951,559.28. This represents a 11.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the transaction, the insider now owns 67,856 shares of the company’s stock, valued at $5,045,093.60. The trade was a 29.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in INSM. Russell Investments Group Ltd. boosted its stake in Insmed by 15,915.2% in the 1st quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company’s stock worth $600,000 after purchasing an additional 21,963 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Insmed by 1.6% in 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 purchasing an additional 610 shares during the period. Vanguard Group Inc. boosted its stake in Insmed by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock worth $393,636,000 after purchasing an additional 383,714 shares during the period. Natixis bought a new position in Insmed in the 1st quarter worth about $191,000. Finally, Shell Asset Management Co. bought a new position in Insmed in the 1st quarter worth about $412,000.

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.