TimesSquare Capital Management LLC Purchases Shares of 483,869 Insmed Incorporated (NASDAQ:INSM)

TimesSquare Capital Management LLC purchased a new stake in Insmed Incorporated (NASDAQ:INSM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 483,869 shares of the biopharmaceutical company’s stock, valued at approximately $35,322,000. TimesSquare Capital Management LLC owned 0.28% of Insmed as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Insmed by 2.7% during the first quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock worth $393,636,000 after buying an additional 383,714 shares during the last quarter. Darwin Global Management Ltd. acquired a new position in Insmed during the 2nd quarter valued at $237,076,000. Principal Financial Group Inc. raised its stake in Insmed by 12.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock valued at $136,648,000 after purchasing an additional 214,130 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Insmed by 76.8% in the 2nd quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after purchasing an additional 714,539 shares during the period. Finally, Capital International Investors acquired a new stake in Insmed in the 1st quarter worth $43,973,000.

Analysts Set New Price Targets

INSM has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a report on Monday, September 9th. TD Cowen raised their target price on Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Truist Financial reiterated a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. StockNews.com cut shares of Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, UBS Group lifted their target price on shares of Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.07.

Insmed Stock Performance

INSM stock opened at $73.54 on Friday. The company has a 50 day moving average price of $72.51 and a 200 day moving average price of $63.12. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The stock has a market capitalization of $13.16 billion, a PE ratio of -13.25 and a beta of 1.12.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.10) EPS. Analysts forecast that Insmed Incorporated will post -5.42 EPS for the current year.

Insider Buying and Selling at Insmed

In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the sale, the insider now owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the transaction, the insider now directly owns 106,134 shares in the company, valued at $7,951,559.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of Insmed stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the transaction, the insider now owns 67,856 shares in the company, valued at approximately $5,045,093.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,882 shares of company stock worth $5,765,446. Company insiders own 4.60% of the company’s stock.

Insmed 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.