Insmed (NASDAQ:INSM) PT Raised to $55.00 at JPMorgan Chase & Co.

Insmed (NASDAQ:INSMGet Free Report) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $36.00 to $55.00 in a note issued to investors on Wednesday, 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 downside of 3.47% from the stock’s previous close.

Several other research analysts have also weighed in on INSM. HC Wainwright lifted their price objective on Insmed from $52.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com raised Insmed from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. Wolfe Research began coverage on Insmed in a research report on Thursday, February 15th. They issued an “outperform” rating and a $42.00 price objective on the stock. UBS Group began coverage on Insmed in a research report on Tuesday, February 27th. They set a “buy” rating and a $46.00 price target on the stock. Finally, Mizuho raised their price objective on Insmed from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, May 13th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.67.

Read Our Latest Research Report on Insmed

Insmed Trading Up 6.4 %

Shares of NASDAQ INSM opened at $56.98 on Wednesday. The firm has a market cap of $8.47 billion, a P/E ratio of -10.89 and a beta of 0.93. Insmed has a 1-year low of $18.31 and a 1-year high of $58.82. The business’s 50 day moving average is $27.49 and its 200-day moving average is $27.65.

Insmed (NASDAQ:INSMGet Free Report) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.16. The business had revenue of $75.50 million during the quarter, compared to analyst estimates of $77.76 million. During the same period in the prior year, the business posted ($1.17) EPS. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. Analysts forecast that Insmed will post -4.52 EPS for the current year.

Insider Buying and Selling

In other Insmed news, CFO Sara Bonstein sold 220,564 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $50.00, for a total value of $11,028,200.00. Following the transaction, the chief financial officer now directly owns 117,481 shares in the company, valued at approximately $5,874,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Sara Bonstein sold 220,564 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $50.00, for a total transaction of $11,028,200.00. Following the transaction, the chief financial officer now directly owns 117,481 shares in the company, valued at $5,874,050. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John Drayton Wise sold 5,088 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total transaction of $129,591.36. Following the transaction, the insider now owns 123,259 shares in the company, valued at $3,139,406.73. The disclosure for this sale can be found here. Insiders have sold 295,842 shares of company stock valued at $13,762,062 in the last ninety days. 4.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Insmed

Institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of Insmed in the fourth quarter worth $25,000. EntryPoint Capital LLC acquired a new stake in shares of Insmed in the first quarter valued at about $33,000. Fidelis Capital Partners LLC acquired a new position in Insmed during the first quarter worth about $34,000. Headlands Technologies LLC acquired a new position in Insmed during the first quarter worth about $59,000. Finally, Quarry LP purchased a new position in Insmed during the fourth quarter worth about $116,000.

Insmed Company Profile

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Insmed (NASDAQ:INSM)

Receive News & Ratings for Insmed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insmed and related companies with MarketBeat.com's FREE daily email newsletter.