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

Insmed (NASDAQ:INSM) had its price objective lifted by research analysts at JPMorgan Chase & Co. from $74.00 to $83.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 13.47% from the stock’s previous close.

Several other research analysts also recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price target on shares of Insmed in a research report on Friday, November 1st. TD Cowen increased their target price on shares of Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, August 9th. UBS Group boosted their price target on Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. Finally, StockNews.com lowered shares of Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.67.

Insmed Stock Performance

INSM opened at $73.15 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 cap of $13.09 billion, a PE ratio of -13.18 and a beta of 1.12. The stock has a 50-day moving average of $72.04 and a 200-day moving average of $66.03. Insmed has a 52-week low of $21.92 and a 52-week high of $80.53.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.10) earnings per share. As a group, equities research analysts forecast 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 business’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 completion of the sale, the insider now owns 67,856 shares in the company, valued at $5,045,093.60. The trade was a 29.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the transaction, the insider now owns 100,100 shares in the company, valued at approximately $7,157,150. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,882 shares of company stock worth $5,765,446. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Insmed

Several institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its position in shares of Insmed by 8.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 135 shares during the last quarter. CIBC Asset Management Inc increased its stake in 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 raised its stake in Insmed by 11.0% during the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 155 shares during the period. Commerce Bank lifted its holdings 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 stake in Insmed by 71.3% during the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares in the last quarter.

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.