JPMorgan Chase & Co. Lowers Insmed (NASDAQ:INSM) Price Target to $175.00

Insmed (NASDAQ:INSM) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $179.00 to $175.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 29.55% from the company’s previous close.

Several other equities research analysts also recently weighed in on INSM. UBS Group restated a “buy” rating and issued a $172.00 target price on shares of Insmed in a research note on Friday. Jefferies Financial Group reaffirmed a “buy” rating and set a $175.00 price target on shares of Insmed in a research report on Thursday. HC Wainwright reiterated a “buy” rating on shares of Insmed in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research report on Friday, July 17th. Finally, Guggenheim dropped their target price on Insmed from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $205.52.

Insmed Stock Up 3.0%

Insmed stock traded up $3.98 during trading hours on Monday, reaching $135.09. The stock had a trading volume of 1,999,865 shares, compared to its average volume of 3,113,131. The company has a market cap of $29.28 billion, a price-to-earnings ratio of -32.87 and a beta of 0.81. 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 business’s 50 day moving average price is $105.14 and its 200-day moving average price is $129.01. Insmed has a 52 week low of $90.39 and a 52 week high of $212.75.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.61. The business had revenue of $425.49 million for the quarter, compared to analysts’ expectations of $395.50 million. Insmed had a negative net margin of 76.94% and a negative return on equity of 123.94%. The company’s revenue was up 296.1% compared to the same quarter last year. During the same period last year, the business earned ($1.70) EPS. Sell-side analysts anticipate that Insmed will post -2.37 EPS for the current year.

Insider Buying and Selling at Insmed

In other news, CEO William Lewis sold 10,699 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $117.40, for a total value of $1,256,062.60. Following the sale, the chief executive officer owned 259,058 shares in the company, valued at $30,413,409.20. This represents a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Alexander Smith sold 1,806 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $95.82, for a total transaction of $173,050.92. Following the transaction, the insider owned 37,648 shares of the company’s stock, valued at $3,607,431.36. This represents a 4.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 54,590 shares of company stock valued at $5,793,738. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Insmed

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INSM. CIBC Private Wealth Group LLC raised its position in Insmed by 42.1% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 53 shares in the last quarter. Reflection Asset Management purchased a new stake in Insmed in the 4th quarter worth approximately $30,000. Raiffeisen Bank International AG acquired a new stake in shares of Insmed during the 4th quarter worth approximately $32,000. Larson Financial Group LLC grew its stake in shares of Insmed by 137.0% during the 4th quarter. Larson Financial Group LLC now owns 256 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 148 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in shares of Insmed during the 4th quarter valued at approximately $49,000.

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.