TimesSquare Capital Management LLC Buys 200,515 Shares of Insmed Incorporated (NASDAQ:INSM)

TimesSquare Capital Management LLC boosted its stake in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 41.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 684,384 shares of the biopharmaceutical company's stock after acquiring an additional 200,515 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.38% of Insmed worth $47,250,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new position in shares of Insmed in the 3rd quarter valued at about $30,000. Spire Wealth Management bought a new position in shares of Insmed in the 4th quarter valued at about $47,000. Exchange Traded Concepts LLC boosted its stake in shares of Insmed by 522.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company's stock valued at $55,000 after purchasing an additional 627 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Insmed in the 4th quarter valued at about $86,000. Finally, Blue Trust Inc. boosted its stake in shares of Insmed by 2,348.8% in the 3rd quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company's stock valued at $131,000 after purchasing an additional 1,879 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on INSM shares. Truist Financial raised their target price on shares of Insmed from $105.00 to $108.00 and gave the company a "buy" rating in a research note on Friday. JPMorgan Chase & Co. raised their target price on shares of Insmed from $83.00 to $92.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 target price on shares of Insmed in a research note on Friday. Wells Fargo & Company increased their price target on shares of Insmed from $85.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Guggenheim increased their price target on shares of Insmed from $95.00 to $101.00 and gave the company a "buy" rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $91.00.

Insiders Place Their Bets

In other news, CEO William Lewis sold 18,750 shares of the firm's stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares of the company's stock, valued at $26,912,553.60. This trade represents a 4.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Martina M.D. Flammer sold 6,172 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $63.64, for a total transaction of $392,786.08. Following the transaction, the insider now directly owns 101,549 shares of the company's stock, valued at $6,462,578.36. This represents a 5.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 532,207 shares of company stock worth $41,400,465. Company insiders own 4.60% of the company's stock.

Insmed Stock Down 3.0 %

INSM stock traded down $2.55 during mid-day trading on Friday, hitting $81.06. 2,722,240 shares of the company were exchanged, compared to its average volume of 1,948,698. 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 $14.50 billion, a P/E ratio of -14.61 and a beta of 1.11. The firm's 50 day simple moving average is $74.29 and its 200 day simple moving average is $73.59. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $84.91.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The business had revenue of $104.44 million for the quarter, compared to analysts' expectations of $102.31 million. On average, sell-side analysts predict that Insmed Incorporated will post -5.42 EPS for the current fiscal year.

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.