TimesSquare Capital Management LLC Invests $35.32 Million in Insmed Incorporated (NASDAQ:INSM)

TimesSquare Capital Management LLC bought a new position in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 483,869 shares of the biopharmaceutical company's stock, valued at approximately $35,322,000. TimesSquare Capital Management LLC owned about 0.28% of Insmed at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of INSM. V Square Quantitative Management LLC acquired a new stake in shares of Insmed during the third quarter worth about $30,000. EntryPoint Capital LLC purchased a new stake in shares of Insmed during the first quarter worth approximately $33,000. GAMMA Investing LLC lifted its holdings in shares of Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 224 shares during the period. First Horizon Advisors Inc. grew its position in Insmed by 83.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company's stock valued at $42,000 after buying an additional 287 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in 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 buying an additional 627 shares during the period.

Wall Street Analysts Forecast Growth

INSM has been the subject of several analyst reports. Truist Financial reissued a "buy" rating and set a $105.00 price target (up from $100.00) on shares of Insmed in a report on Friday, November 1st. Bank of America increased their price objective on Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. TD Cowen upped their price target on shares of Insmed from $75.00 to $98.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Insmed in a report on Monday, September 9th. Finally, StockNews.com lowered Insmed from a "hold" rating to a "sell" rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $83.07.

Insmed Trading Up 2.6 %

INSM stock traded up $1.85 on Friday, hitting $73.54. 1,121,855 shares of the company were exchanged, compared to its average volume of 1,219,105. 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 price-to-earnings ratio of -13.25 and a beta of 1.12. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $80.53. The business's fifty day moving average is $72.51 and its two-hundred day moving average is $63.39.

Insmed (NASDAQ:INSM - Get Free Report) last issued 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 company had revenue of $93.40 million during the quarter, compared to analysts' expectations of $93.36 million. The company's revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.10) EPS. As a group, research analysts forecast that Insmed Incorporated will post -5.42 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of Insmed stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the transaction, the insider now owns 100,100 shares in the company, valued at approximately $7,157,150. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the company's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total value of $2,686,612.50. Following the completion of the transaction, the insider now directly owns 100,100 shares in the company, valued at approximately $7,157,150. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Alexander Smith sold 27,871 shares of the business's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the transaction, the insider now owns 67,856 shares in the company, valued at $5,045,093.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,882 shares of company stock worth $5,765,446 over the last ninety days. 4.60% of the stock is owned by company insiders.

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.