251,739 Shares in Insmed Incorporated (NASDAQ:INSM) Purchased by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP bought a new position in Insmed Incorporated (NASDAQ:INSM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 251,739 shares of the biopharmaceutical company’s stock, valued at approximately $18,377,000. Westfield Capital Management Co. LP owned approximately 0.14% of Insmed as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of INSM. Darwin Global Management Ltd. bought a new position in shares of Insmed during the 2nd quarter worth approximately $237,076,000. Clearbridge Investments LLC increased its position in shares of Insmed by 76.8% during the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock worth $110,212,000 after purchasing an additional 714,539 shares in the last quarter. Fiera Capital Corp purchased a new position in Insmed during the 2nd quarter worth $40,570,000. Farallon Capital Management LLC acquired a new stake in shares of Insmed during the second quarter worth $38,056,000. Finally, Fred Alger Management LLC purchased a new stake in Insmed during the 2nd quarter valued at about $33,404,000.

Insmed Stock Down 0.9 %

NASDAQ:INSM opened at $73.15 on Monday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The company has a fifty day moving average of $72.04 and a two-hundred day moving average of $66.31.

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

Insider Transactions at Insmed

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value of $2,686,612.50. Following the completion of the sale, the insider now owns 100,100 shares of the company’s stock, valued at approximately $7,157,150. This trade represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction on Monday, September 16th. The stock was 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. This trade represents a 11.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,882 shares of company stock valued at $5,765,446 over the last ninety days. Insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

INSM has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research note on Friday, November 1st. Truist Financial reissued a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Insmed in a research report 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. TD Cowen increased their price objective 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. Finally, UBS Group boosted 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 analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.67.

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.