Insmed’s (INSM) Overweight Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their overweight rating on shares of Insmed (NASDAQ:INSM) in a report released on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has a $36.00 target price on the biopharmaceutical company’s stock.

Several other research analysts have also recently weighed in on INSM. Bank of America boosted their price target on shares of Insmed from $35.00 to $37.00 and gave the stock a buy rating in a report on Wednesday, September 6th. Morgan Stanley reiterated an overweight rating and set a $41.00 price target on shares of Insmed in a report on Friday, August 4th. Evercore ISI upped their price objective on Insmed from $32.00 to $42.00 and gave the company an outperform rating in a research note on Thursday, September 7th. StockNews.com began coverage on Insmed in a research note on Thursday, October 5th. They set a sell rating on the stock. Finally, HC Wainwright restated a buy rating and set a $52.00 price objective on shares of Insmed in a report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $41.27.

Insmed Stock Performance

Shares of NASDAQ INSM opened at $24.62 on Monday. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of -4.67 and a beta of 1.40. Insmed has a fifty-two week low of $16.04 and a fifty-two week high of $27.59. The firm’s 50-day simple moving average is $25.08 and its 200 day simple moving average is $22.34.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.04). The company had revenue of $79.07 million for the quarter, compared to analysts’ expectations of $78.86 million. Insmed had a negative net margin of 257.69% and a negative return on equity of 3,789.32%. On average, sell-side analysts predict that Insmed will post -5.18 EPS for the current year.

Insider Activity

In other Insmed news, CEO William Lewis sold 112,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $24.08, for a total value of $2,696,960.00. Following the completion of the transaction, the chief executive officer now owns 342,648 shares in the company, valued at approximately $8,250,963.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Assetmark Inc. raised its position in shares of Insmed by 10.7% in the third quarter. Assetmark Inc. now owns 4,799 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 463 shares in the last quarter. Arizona State Retirement System increased its stake in Insmed by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 38,846 shares of the biopharmaceutical company’s stock worth $981,000 after acquiring an additional 526 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Insmed by 12.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,579 shares of the biopharmaceutical company’s stock valued at $118,000 after acquiring an additional 604 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Insmed by 2.4% during the 2nd quarter. ProShare Advisors LLC now owns 25,973 shares of the biopharmaceutical company’s stock valued at $548,000 after acquiring an additional 606 shares during the last quarter. Finally, Silverarc Capital Management LLC grew its holdings in shares of Insmed by 0.5% during the second quarter. Silverarc Capital Management LLC now owns 144,464 shares of the biopharmaceutical company’s stock worth $3,048,000 after purchasing an additional 670 shares in 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.