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

Insmed (NASDAQ:INSM) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $83.00 to $92.00 in a research 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 target price would suggest a potential upside of 15.07% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Insmed in a report on Friday, November 1st. Morgan Stanley boosted their target price on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. Truist Financial reaffirmed a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. Finally, Guggenheim upped their price objective on shares of Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.00.

Insmed Stock Down 1.0 %

INSM traded down $0.83 during trading on Friday, reaching $79.95. 1,630,040 shares of the stock were exchanged, compared to its average volume of 1,936,746. 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 stock’s 50 day moving average price is $72.79 and its two-hundred day moving average price is $73.10. Insmed has a twelve month low of $21.92 and a twelve month high of $82.04. The stock has a market cap of $14.30 billion, a P/E ratio of -14.41 and a beta of 1.11.

Insider Activity at Insmed

In related news, insider Martina M.D. Flammer sold 6,172 shares of Insmed stock in a transaction on Friday, January 10th. The shares were sold at an average price of $63.64, for a total value of $392,786.08. Following the completion of the sale, the insider now owns 101,549 shares of the company’s stock, valued at approximately $6,462,578.36. This trade represents a 5.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares in the company, valued at approximately $26,912,553.60. The trade was a 4.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 214,630 shares of company stock worth $15,913,869 over the last ninety days. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vestal Point Capital LP boosted its holdings in shares of Insmed by 113.3% in the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after buying an additional 850,000 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of Insmed during the 3rd quarter worth approximately $35,322,000. Assenagon Asset Management S.A. raised its holdings in shares of Insmed by 119.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 857,360 shares of the biopharmaceutical company’s stock worth $62,587,000 after purchasing an additional 466,306 shares during the period. Victory Capital Management Inc. lifted its stake in Insmed by 209.9% in the third quarter. Victory Capital Management Inc. now owns 455,959 shares of the biopharmaceutical company’s stock valued at $33,285,000 after purchasing an additional 308,819 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in Insmed in the third quarter worth $18,377,000.

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.