JPMorgan Chase & Co. Issues Positive Forecast for Insmed (NASDAQ:INSM) Stock Price

Insmed (NASDAQ:INSM) had its price objective raised by JPMorgan Chase & Co. from $83.00 to $92.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Several other research firms have also issued reports on INSM. Truist Financial reaffirmed a “buy” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. Guggenheim upped their price target on Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday. HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. Finally, Morgan Stanley boosted their target price on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.00.

Insmed Price Performance

Shares of INSM opened at $79.95 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The firm has a market cap of $14.30 billion, a PE ratio of -14.41 and a beta of 1.11. The firm’s 50 day moving average price is $72.79 and its 200 day moving average price is $73.10. Insmed has a twelve month low of $21.92 and a twelve month high of $82.04.

Insider Activity

In other news, CFO Sara Bonstein sold 28,390 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total transaction of $2,296,751.00. Following the sale, the chief financial officer now directly owns 155,506 shares in the company, valued at approximately $12,580,435.40. The trade was a 15.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total value of $1,309,500.00. Following the completion of the transaction, the chief executive officer now owns 384,960 shares of the company’s stock, valued at $26,885,606.40. The trade was a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 401,030 shares of company stock valued at $30,993,629. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Hedge funds have recently made changes to their positions in the business. Jennison Associates LLC boosted its position in shares of Insmed by 0.6% during the 4th quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock valued at $53,424,000 after acquiring an additional 4,560 shares in the last quarter. Capital CS Group LLC acquired a new stake in Insmed during the fourth quarter valued at approximately $586,000. Orion Portfolio Solutions LLC grew its stake in shares of Insmed by 48.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock valued at $2,050,000 after purchasing an additional 9,170 shares during the period. Ally Bridge Group NY LLC raised its holdings in shares of Insmed by 16.9% in the 3rd quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock worth $11,011,000 after buying an additional 21,833 shares in the last quarter. Finally, Vestal Point Capital LP lifted its position in shares of Insmed by 113.3% during the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after buying an additional 850,000 shares during the period.

About Insmed

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.