Insmed (NASDAQ:INSM) Price Target Cut to $175.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan cut Insmed’s price target to $175 from $179 while maintaining an “overweight” rating, implying roughly 29.6% upside from the reported $135.09 share price.
• Analyst sentiment remains broadly positive: Insmed has an average “Buy” rating and a consensus price target of $205.52, despite some firms recently lowering their targets.
• Insmed exceeded quarterly expectations, reporting a loss of $0.06 per share versus the forecasted $0.67 loss and revenue of $425.49 million, up 296.1% year over year.

Insmed (NASDAQ:INSM - Get Free Report) had its target price cut by equities researchers at JPMorgan Chase & Co. from $179.00 to $175.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 29.55% from the stock's current price.

A number of other research firms have also weighed in on INSM. Cantor Fitzgerald reissued an "overweight" rating and issued a $235.00 target price on shares of Insmed in a report on Tuesday, July 28th. Royal Bank Of Canada dropped their price objective on shares of Insmed from $205.00 to $195.00 and set an "outperform" rating for the company in a research note on Friday, June 5th. Roth Capital restated a "buy" rating on shares of Insmed in a research report on Monday, June 8th. Truist Financial reiterated a "buy" rating and issued a $195.00 price target (up from $185.00) on shares of Insmed in a research report on Monday. Finally, HC Wainwright reissued a "buy" rating on shares of Insmed in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $205.52.

Insmed Price Performance

Shares of INSM stock traded up $3.98 during trading hours on Monday, hitting $135.09. The stock had a trading volume of 1,999,865 shares, compared to its average volume of 3,113,131. Insmed has a one year low of $90.39 and a one year high of $212.75. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.72 and a quick ratio of 3.40. The stock's 50-day moving average price is $105.14 and its two-hundred day moving average price is $129.01. The stock has a market capitalization of $29.28 billion, a price-to-earnings ratio of -32.87 and a beta of 0.81.

Insmed (NASDAQ:INSM - Get Free Report) last posted its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.67) by $0.61. Insmed had a negative return on equity of 123.94% and a negative net margin of 76.94%.The company had revenue of $425.49 million for the quarter, compared to the consensus estimate of $395.50 million. During the same period in the previous year, the business earned ($1.70) earnings per share. The firm's revenue for the quarter was up 296.1% on a year-over-year basis. Equities analysts forecast that Insmed will post -2.37 EPS for the current year.

Insider Activity at Insmed

In related news, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $117.40, for a total transaction of $1,256,062.60. Following the completion of the sale, the chief executive officer owned 259,058 shares in the company, valued at $30,413,409.20. This trade represents a 3.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 2,370 shares of the business's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $242,379.90. Following the completion of the sale, the chief operating officer directly owned 98,603 shares of the company's stock, valued at approximately $10,084,128.81. This trade represents a 2.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 54,590 shares of company stock valued at $5,793,738 over the last ninety days. Company insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Insmed

A number of institutional investors have recently modified their holdings of INSM. EverSource Wealth Advisors LLC raised its position in Insmed by 65.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company's stock valued at $67,000 after purchasing an additional 263 shares in the last quarter. First Trust Advisors LP increased its holdings in Insmed by 80.8% during the second quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company's stock valued at $4,770,000 after buying an additional 21,176 shares during the period. Baird Financial Group Inc. bought a new position in Insmed in the second quarter worth approximately $2,589,000. Amundi raised its stake in Insmed by 21,194.4% in the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company's stock worth $1,130,000 after buying an additional 11,445 shares in the last quarter. Finally, Natixis bought a new position in Insmed in the second quarter worth approximately $1,072,000.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company's principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.

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