Insmed (NASDAQ:INSM) PT Raised to $74.00

Insmed (NASDAQ:INSM - Free Report) had its target price lifted by JPMorgan Chase & Co. from $72.00 to $74.00 in a research report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the biopharmaceutical company's stock.

Other equities analysts have also issued reports about the stock. Truist Financial dropped their price target on shares of Insmed from $88.00 to $85.00 and set a buy rating for the company in a research report on Monday, August 12th. StockNews.com lowered Insmed from a hold rating to a sell rating in a research note on Friday, August 9th. Morgan Stanley boosted their price objective on Insmed from $60.00 to $85.00 and gave the company an overweight rating in a research report on Friday, July 12th. Mizuho upped their price objective on Insmed from $36.00 to $82.00 and gave the stock a buy rating in a research note on Friday, June 7th. Finally, Stifel Nicolaus lifted their target price on Insmed from $74.00 to $88.00 and gave the company 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 issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $81.53.

Insmed Stock Performance

Insmed stock traded down $1.62 during trading on Thursday, reaching $71.40. The company had a trading volume of 1,121,915 shares, compared to its average volume of 2,404,330. The firm has a market capitalization of $10.61 billion, a price-to-earnings ratio of -14.01 and a beta of 1.11. The company has a current ratio of 2.71, a quick ratio of 2.53 and a debt-to-equity ratio of 25.05. The firm's 50-day simple moving average is $74.13 and its 200 day simple moving average is $54.58. Insmed has a 52 week low of $21.92 and a 52 week high of $80.53.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The firm had revenue of $90.34 million during the quarter, compared to analysts' expectations of $87.95 million. During the same quarter in the prior year, the business earned ($1.78) earnings per share. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. Sell-side analysts forecast that Insmed will post -5.42 earnings per share for the current fiscal year.

Insider Activity at Insmed

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value of $2,686,612.50. Following the transaction, the insider now owns 100,100 shares in the company, valued at $7,157,150. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Martina M.D. Flammer sold 13,436 shares of the business's stock in a transaction dated Monday, September 16th. The shares were 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 in the company, valued at $7,951,559.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the sale, the insider now owns 100,100 shares of the company's stock, valued at approximately $7,157,150. The disclosure for this sale can be found here. Insiders sold a total of 78,882 shares of company stock worth $5,765,446 in the last 90 days. Corporate insiders own 4.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its holdings in Insmed by 8.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company's stock valued at $119,000 after buying an additional 135 shares in the last quarter. CWM LLC grew its holdings in shares of Insmed by 11.0% in the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company's stock valued at $105,000 after purchasing an additional 155 shares during the period. First Horizon Advisors Inc. increased its position in Insmed by 83.4% during the second 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. Beacon Financial Advisory LLC raised its stake in Insmed by 4.6% during the second quarter. Beacon Financial Advisory LLC now owns 13,825 shares of the biopharmaceutical company's stock worth $926,000 after purchasing an additional 605 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of 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 valued at $1,037,000 after buying an additional 610 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.