TimesSquare Capital Management LLC Purchases 65,421 Shares of Insmed, Inc. $INSM

Key Points

• TimesSquare Capital Management boosted its Insmed stake by 15.4% in the fourth quarter, buying 65,421 additional shares and bringing its total holding to 490,506 shares worth about $85.4 million.
• Several analysts remain constructive on INSM, with ratings including multiple Buys and an average price target of $210.95; Raymond James initiated coverage with an Outperform rating and a $200 target.
• Insmed reported better-than-expected quarterly results, posting a smaller-than-expected loss of $0.76 per share on revenue of $305.96 million, while insiders sold shares and the stock was trading far below its 52-week high.

TimesSquare Capital Management LLC increased its position in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 15.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 490,506 shares of the biopharmaceutical company's stock after acquiring an additional 65,421 shares during the quarter. Insmed comprises approximately 1.3% of TimesSquare Capital Management LLC's investment portfolio, making the stock its 22nd biggest holding. TimesSquare Capital Management LLC owned about 0.23% of Insmed worth $85,368,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Resona Asset Management Co. Ltd. bought a new position in Insmed during the 4th quarter worth approximately $10,528,000. Profund Advisors LLC boosted its stake in Insmed by 144.8% during the 4th quarter. Profund Advisors LLC now owns 27,844 shares of the biopharmaceutical company's stock worth $4,846,000 after acquiring an additional 16,471 shares during the last quarter. ProShare Advisors LLC boosted its stake in Insmed by 4,425.1% during the 4th quarter. ProShare Advisors LLC now owns 340,740 shares of the biopharmaceutical company's stock worth $59,302,000 after acquiring an additional 333,210 shares during the last quarter. HighTower Advisors LLC boosted its stake in Insmed by 13.0% during the 4th quarter. HighTower Advisors LLC now owns 3,036 shares of the biopharmaceutical company's stock worth $528,000 after acquiring an additional 349 shares during the last quarter. Finally, Gabelli Funds LLC boosted its stake in Insmed by 27.8% during the 4th quarter. Gabelli Funds LLC now owns 1,840 shares of the biopharmaceutical company's stock worth $320,000 after acquiring an additional 400 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on INSM shares. Raymond James Financial started coverage on shares of Insmed in a research note on Friday, April 10th. They set an "outperform" rating and a $200.00 price objective on the stock. Stifel Nicolaus raised their target price on shares of Insmed from $205.00 to $208.00 and gave the stock a "buy" rating in a report on Tuesday, March 24th. Weiss Ratings restated a "sell (d-)" rating on shares of Insmed in a report on Tuesday, April 21st. Morgan Stanley upgraded shares of Insmed from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $166.00 to $212.00 in a report on Monday, March 30th. Finally, Guggenheim dropped their target price on shares of Insmed from $230.00 to $226.00 and set a "buy" rating on the stock in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $210.95.

Insider Activity

In related news, CEO William Lewis sold 10,699 shares of the firm's stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $143.97, for a total value of $1,540,335.03. Following the completion of the transaction, the chief executive officer owned 301,185 shares of the company's stock, valued at approximately $43,361,604.45. This trade represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 88,060 shares of the firm's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total transaction of $14,497,317.80. Following the completion of the transaction, the chief operating officer directly owned 106,810 shares of the company's stock, valued at approximately $17,584,130.30. This trade represents a 45.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 161,193 shares of company stock worth $25,462,012 over the last ninety days. Insiders own 2.10% of the company's stock.

Insmed Stock Performance

Shares of INSM stock opened at $107.15 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. The company has a market capitalization of $23.22 billion, a P/E ratio of -18.63 and a beta of 0.89. The company's 50 day moving average price is $140.60 and its two-hundred day moving average price is $162.84. Insmed, Inc. has a 52 week low of $64.85 and a 52 week high of $212.75.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.14. The firm had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business's quarterly revenue was up 229.7% on a year-over-year basis. During the same period last year, the company posted ($1.42) EPS. On average, analysts expect that Insmed, Inc. will post -2.52 earnings per share for the current fiscal year.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company's principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.

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