Insmed (NASDAQ:INSM) PT Raised to $74.00 at JPMorgan Chase & Co.

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

Other analysts also recently issued reports about the stock. Bank of America reissued a “buy” rating and set a $83.00 price objective on shares of Insmed in a research report on Friday, July 5th. TD Cowen increased their price objective on shares of Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, August 9th. UBS Group increased their price objective on shares of Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Evercore ISI increased 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. Finally, Mizuho increased 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. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Insmed currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.53.

Insmed Stock Up 1.2 %

Shares of Insmed stock opened at $72.27 on Thursday. The company has a debt-to-equity ratio of 25.05, a current ratio of 2.71 and a quick ratio of 2.53. The company has a 50-day moving average of $74.03 and a 200 day moving average of $55.02. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of -13.82 and a beta of 1.11. Insmed has a 1 year low of $21.92 and a 1 year high of $80.53.

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

Insider Transactions at Insmed

In other news, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were 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 in the company, valued at $5,045,093.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction that occurred on 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 owns 67,856 shares in the company, valued at approximately $5,045,093.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $7,951,559.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,882 shares of company stock worth $5,765,446 in the last quarter. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Darwin Global Management Ltd. bought a new stake in shares of Insmed during the second quarter valued at approximately $237,076,000. Capital International Investors bought a new stake in shares of Insmed during the first quarter valued at approximately $43,973,000. Clearbridge Investments LLC bought a new stake in shares of Insmed during the first quarter valued at approximately $25,242,000. Vestal Point Capital LP bought a new stake in shares of Insmed during the fourth quarter valued at approximately $27,891,000. Finally, Fiera Capital Corp bought a new stake in shares of Insmed during the second quarter valued at approximately $40,570,000.

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.