JPMorgan Chase & Co. Boosts Insmed (NASDAQ:INSM) Price Target to $92.00

Insmed (NASDAQ:INSM) had its target price upped by equities researchers at JPMorgan Chase & Co. from $83.00 to $92.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 15.07% from the stock’s previous close.

A number of other research firms have also recently commented on INSM. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Insmed in a research note on Friday, November 1st. Morgan Stanley lifted their price target on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday. Truist Financial reiterated a “buy” rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. Finally, Guggenheim boosted their target price on Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Insmed currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Insmed Price Performance

Shares of INSM traded down $0.83 during mid-day trading on Friday, reaching $79.95. 1,630,040 shares of the stock traded hands, compared to its average volume of 1,936,746. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. Insmed has a 1 year low of $21.92 and a 1 year high of $82.04. The company has a market cap of $14.30 billion, a price-to-earnings ratio of -14.41 and a beta of 1.11. The firm has a fifty day moving average price of $72.79 and a 200 day moving average price of $73.10.

Insiders Place Their Bets

In related news, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $80.00, for a total value of $7,291,200.00. Following the completion of the sale, the insider now directly owns 97,083 shares of the company’s stock, valued at approximately $7,766,640. This represents a 48.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $77.94, for a total transaction of $1,461,375.00. Following the completion of the transaction, the chief executive officer now owns 379,534 shares of the company’s stock, valued at approximately $29,580,879.96. The trade was a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 214,630 shares of company stock valued at $15,913,869. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of INSM. CIBC Asset Management Inc boosted its stake 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 worth $324,000 after acquiring an additional 149 shares during the period. Abel Hall LLC boosted its stake in Insmed by 4.7% in the 4th quarter. Abel Hall LLC now owns 3,333 shares of the biopharmaceutical company’s stock worth $230,000 after purchasing an additional 151 shares during the period. Commerce Bank raised its position in shares of Insmed by 2.4% during the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock valued at $499,000 after buying an additional 163 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Insmed by 65.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 163 shares during the last quarter. Finally, M&T Bank Corp boosted its position in shares of Insmed by 5.6% during the fourth quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company’s stock worth $217,000 after acquiring an additional 166 shares during the last quarter.

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.