Insmed (NASDAQ:INSM) Given New $135.00 Price Target at JPMorgan Chase & Co.

Insmed (NASDAQ:INSM) had its price objective lifted by JPMorgan Chase & Co. from $111.00 to $135.00 in a research report report published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on INSM. The Goldman Sachs Group increased their price target on Insmed from $114.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. UBS Group increased their price target on Insmed from $124.00 to $133.00 and gave the company a “buy” rating in a report on Friday, August 8th. Royal Bank Of Canada increased their price target on Insmed from $108.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Mizuho increased their price target on Insmed from $130.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, August 13th. Finally, Truist Financial raised their target price on Insmed from $126.00 to $139.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Sixteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.29.

Insmed Stock Up 1.8%

Shares of NASDAQ INSM opened at $129.45 on Wednesday. Insmed has a 12-month low of $60.40 and a 12-month high of $130.13. The company has a market cap of $27.36 billion, a P/E ratio of -22.67 and a beta of 0.95. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average price of $106.10 and a 200 day moving average price of $84.93.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.30) by ($0.40). Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The company had revenue of $107.42 million during the quarter, compared to analyst estimates of $104.06 million. During the same quarter in the prior year, the company posted ($1.94) earnings per share. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. Insmed has set its FY 2025 guidance at EPS. Research analysts anticipate that Insmed will post -4.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the completion of the sale, the insider directly owned 89,407 shares in the company, valued at $8,352,401.94. This trade represents a 52.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Alexander Smith sold 933 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $102.51, for a total transaction of $95,641.83. Following the transaction, the insider directly owned 66,394 shares in the company, valued at $6,806,048.94. The trade was a 1.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 504,694 shares of company stock valued at $48,660,104 over the last ninety days. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Insmed

Several large investors have recently modified their holdings of INSM. M&T Bank Corp lifted its holdings in Insmed by 4.7% in the first quarter. M&T Bank Corp now owns 3,293 shares of the biopharmaceutical company’s stock worth $252,000 after acquiring an additional 147 shares during the last quarter. Snowden Capital Advisors LLC lifted its holdings in Insmed by 2.5% in the fourth quarter. Snowden Capital Advisors LLC now owns 6,602 shares of the biopharmaceutical company’s stock worth $456,000 after acquiring an additional 158 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in Insmed by 24.8% in the second quarter. First Horizon Advisors Inc. now owns 936 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 186 shares during the last quarter. ORG Partners LLC lifted its holdings in Insmed by 220.2% in the second quarter. ORG Partners LLC now owns 285 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 196 shares during the last quarter. Finally, Cullen Frost Bankers Inc. lifted its holdings in Insmed by 164.9% in the first 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.

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.