Insmed (NASDAQ:INSM) Price Target Raised to $83.00

Insmed (NASDAQ:INSM) had its target price upped by JPMorgan Chase & Co. from $74.00 to $83.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

A number of other brokerages have also weighed in on INSM. Bank of America upped their price target on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. StockNews.com lowered Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. TD Cowen boosted their price objective on Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Truist Financial restated a “buy” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. Finally, UBS Group lifted their target price on Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, August 9th. 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.67.

Insmed Stock Performance

INSM opened at $73.15 on Friday. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The business’s 50 day moving average is $72.04 and its 200-day moving average is $66.31. The stock has a market cap of $13.09 billion, a PE ratio of -13.18 and a beta of 1.12. Insmed has a twelve month low of $21.92 and a twelve month high of $80.53.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $93.36 million. During the same quarter in the prior year, the company posted ($1.10) EPS. Insmed’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, analysts predict that Insmed will post -5.42 earnings per share for the current year.

Insider Activity

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the transaction, the insider now directly owns 100,100 shares of the company’s stock, valued at approximately $7,157,150. The trade was a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the sale, the insider now directly owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. This represents a 29.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,882 shares of company stock worth $5,765,446 over the last 90 days. 4.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its holdings in shares of Insmed by 15,915.2% during the 1st quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company’s stock valued at $600,000 after acquiring an additional 21,963 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in Insmed by 1.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 38,232 shares of the biopharmaceutical company’s stock worth $1,037,000 after purchasing an additional 610 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Insmed by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock worth $393,636,000 after purchasing an additional 383,714 shares in the last quarter. Natixis acquired a new stake in shares of Insmed during the 1st quarter valued at about $191,000. Finally, Shell Asset Management Co. bought a new stake in shares of Insmed in the 1st quarter valued at approximately $412,000.

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.