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

Insmed (NASDAQ:INSM - Get Free Report) had its price objective upped by JPMorgan Chase & Co. from $90.00 to $111.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 14.55% from the company's previous close.

Other equities analysts have also recently issued reports about the company. UBS Group lowered their target price on Insmed from $110.00 to $109.00 and set a "buy" rating for the company in a report on Friday, May 9th. Leerink Partners raised their target price on Insmed from $100.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Royal Bank Of Canada raised their target price on Insmed from $99.00 to $106.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. The Goldman Sachs Group raised their target price on Insmed from $100.00 to $112.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Finally, Mizuho raised their target price on Insmed from $96.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating and seventeen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $108.07.

Insmed Stock Performance

Shares of Insmed stock traded down $0.05 on Tuesday, reaching $96.90. 374,618 shares of the stock were exchanged, compared to its average volume of 2,293,624. The company has a quick ratio of 5.44, a current ratio of 5.86 and a debt-to-equity ratio of 11.38. Insmed has a twelve month low of $60.40 and a twelve month high of $106.83. The firm has a market capitalization of $18.38 billion, a price-to-earnings ratio of -16.28 and a beta of 0.90. The business has a 50 day moving average price of $81.42 and a two-hundred day moving average price of $76.70.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative return on equity of 446.98% and a negative net margin of 265.93%. The business had revenue of $92.82 million for the quarter, compared to analyst estimates of $91.63 million. During the same period in the previous year, the company earned ($1.06) earnings per share. The company's quarterly revenue was up 22.9% compared to the same quarter last year. Analysts anticipate that Insmed will post -4.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total value of $9,264,648.24. Following the sale, the insider directly owned 89,407 shares in the company, valued at approximately $8,352,401.94. This represents a 52.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Sara Bonstein sold 57,765 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $101.78, for a total value of $5,879,321.70. Following the completion of the sale, the chief financial officer owned 93,536 shares in the company, valued at approximately $9,520,094.08. This represents a 38.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 488,752 shares of company stock valued at $43,199,826. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Insmed

A number of large investors have recently bought and sold shares of INSM. Cullen Frost Bankers Inc. grew its position in Insmed by 164.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 221 shares during the last quarter. Elequin Capital LP bought a new position in Insmed in the 4th quarter valued at $28,000. Steward Partners Investment Advisory LLC boosted its position in Insmed by 65.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 163 shares during the last quarter. NBC Securities Inc. bought a new position in Insmed in the 1st quarter valued at $49,000. Finally, Versant Capital Management Inc boosted its position in Insmed by 546.3% in the 1st quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 590 shares during the last quarter.

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.

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