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

Insmed (NASDAQ:INSM - Get Free Report) had its price objective boosted by analysts at JPMorgan Chase & Co. from $74.00 to $83.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 12.77% from the company's current price.

A number of other analysts also recently issued reports on INSM. StockNews.com downgraded shares of Insmed from a "hold" rating to a "sell" rating in a research report on Friday, August 9th. Bank of America upped their target price on Insmed from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. UBS Group boosted their price target on Insmed from $78.00 to $84.00 and gave the company a "buy" rating in a report on Friday, August 9th. Stifel Nicolaus boosted their price objective on Insmed from $74.00 to $88.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Insmed in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Insmed presently has a consensus rating of "Moderate Buy" and an average target price of $83.67.

Insmed Stock Performance

Shares of INSM stock traded down $0.21 during trading hours on Friday, reaching $73.60. 82,107 shares of the company's stock were exchanged, compared to its average volume of 2,235,905. The company has a market cap of $13.17 billion, a P/E ratio of -13.27 and a beta of 1.12. Insmed has a 1 year low of $21.92 and a 1 year high of $80.53. The company's 50 day moving average is $72.07 and its two-hundred day moving average is $65.70. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. The firm's revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the business earned ($1.10) earnings per share. Equities research analysts anticipate that Insmed will post -5.42 EPS for the current fiscal year.

Insider Buying and Selling at Insmed

In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the firm's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the transaction, the insider now owns 67,856 shares in the company, valued at $5,045,093.60. This trade represents a 29.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Martina M.D. Flammer sold 13,436 shares of the business's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the sale, the insider now directly owns 106,134 shares in the company, valued at approximately $7,951,559.28. This represents a 11.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,882 shares of company stock valued at $5,765,446 in the last ninety days. Company insiders own 4.60% of the company's stock.

Institutional Investors Weigh In On Insmed

Several large investors have recently made changes to their positions in INSM. Kennedy Capital Management LLC bought a new stake in Insmed during the first quarter worth about $267,000. Russell Investments Group Ltd. increased its holdings in 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 purchasing an additional 21,963 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in Insmed in the 3rd quarter valued at $35,322,000. &PARTNERS acquired a new position in Insmed in the second quarter worth $300,000. Finally, Natixis bought a new stake in shares of Insmed during the first quarter worth $191,000.

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.

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