TimesSquare Capital Management LLC Increases Holdings in Insmed, Inc. (NASDAQ:INSM)

TimesSquare Capital Management LLC grew its stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 55.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,064,148 shares of the biopharmaceutical company's stock after purchasing an additional 379,764 shares during the period. Insmed comprises approximately 1.3% of TimesSquare Capital Management LLC's portfolio, making the stock its 21st biggest position. TimesSquare Capital Management LLC owned about 0.59% of Insmed worth $81,184,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. National Bank of Canada FI increased its position in shares of Insmed by 9.7% during the fourth quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company's stock valued at $115,000 after acquiring an additional 147 shares during the last quarter. M&T Bank Corp increased its position in shares of Insmed by 4.7% during the first quarter. M&T Bank Corp now owns 3,293 shares of the biopharmaceutical company's stock valued at $252,000 after acquiring an additional 147 shares during the last quarter. Snowden Capital Advisors LLC increased its position in shares of Insmed by 2.5% during the fourth quarter. Snowden Capital Advisors LLC now owns 6,602 shares of the biopharmaceutical company's stock valued at $456,000 after acquiring an additional 158 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Insmed by 65.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 163 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Insmed by 3.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,314 shares of the biopharmaceutical company's stock valued at $436,000 after acquiring an additional 225 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on INSM. Jefferies Financial Group reissued a "buy" rating on shares of Insmed in a report on Tuesday, June 10th. Citigroup raised Insmed to a "buy" rating in a report on Tuesday, June 10th. UBS Group reduced their price objective on Insmed from $110.00 to $109.00 and set a "buy" rating for the company in a report on Friday, May 9th. Morgan Stanley increased their price objective on Insmed from $102.00 to $108.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Wells Fargo & Company increased their price objective on Insmed from $107.00 to $119.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. One analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Insmed presently has an average rating of "Moderate Buy" and a consensus price target of $108.47.

Insider Buying and Selling

In related news, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the completion of the sale, the insider directly owned 89,407 shares in the company, valued at $8,352,401.94. This represents a 52.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sara Bonstein sold 57,766 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $89.12, for a total value of $5,148,105.92. Following the sale, the chief financial officer owned 103,412 shares of the company's stock, valued at $9,216,077.44. This represents a 35.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 548,197 shares of company stock worth $49,124,834 in the last ninety days. Corporate insiders own 3.00% of the company's stock.

Insmed Price Performance

INSM stock traded down $1.97 during mid-day trading on Thursday, hitting $102.62. 657,045 shares of the stock were exchanged, compared to its average volume of 2,295,322. The company has a debt-to-equity ratio of 11.38, a current ratio of 5.86 and a quick ratio of 5.44. The business has a fifty day moving average price of $85.41 and a 200 day moving average price of $78.02. Insmed, Inc. has a 12 month low of $60.40 and a 12 month high of $106.83. The stock has a market capitalization of $19.47 billion, a price-to-earnings ratio of -17.27 and a beta of 0.90.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative return on equity of 446.98% and a negative net margin of 265.93%. The firm had revenue of $92.82 million for the quarter, compared to the consensus estimate of $91.63 million. During the same period last year, the firm earned ($1.06) EPS. The company's revenue for the quarter was up 22.9% on a year-over-year basis. On average, sell-side analysts anticipate that Insmed, Inc. will post -4.56 EPS for the current year.

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.