JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Insmed (NASDAQ:INSM) Stock

Insmed (NASDAQ:INSM) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $74.00 to $83.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 12.77% from the stock’s current price.

A number of other research firms also recently weighed in on INSM. UBS Group increased their price objective on Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, August 9th. StockNews.com cut shares of Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Stifel Nicolaus increased their target price on shares of Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a report on Monday, September 9th. Finally, TD Cowen boosted their price target on shares of Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.67.

Insmed Trading Down 0.3 %

NASDAQ INSM traded down $0.21 during trading on Friday, reaching $73.60. 82,107 shares of the stock traded hands, compared to its average volume of 2,235,905. The firm has a market cap of $13.17 billion, a price-to-earnings ratio of -13.27 and a beta of 1.12. Insmed has a fifty-two week low of $21.92 and a fifty-two 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 stock’s 50-day moving average price is $72.07 and its 200 day moving average price is $65.70.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS 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 business posted ($1.10) EPS. Insmed’s quarterly revenue was up 18.1% on a year-over-year basis. Analysts predict that Insmed will post -5.42 EPS for the current year.

Insider Transactions at Insmed

In related news, insider Martina M.D. Flammer sold 13,436 shares of the business’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 transaction, the insider now directly owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. The trade was a 11.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total value of $2,686,612.50. Following the sale, the insider now owns 100,100 shares in the company, valued at $7,157,150. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,882 shares of company stock worth $5,765,446. Company insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Several institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new stake in Insmed in the third quarter valued at $30,000. EntryPoint Capital LLC acquired a new position in Insmed during the 1st quarter worth approximately $33,000. GAMMA Investing LLC boosted its position in Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 224 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Insmed by 83.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 287 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Insmed by 522.5% during the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 627 shares during the period.

Insmed Company Profile

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.