Insys Therapeutics Stock Price Up 4.4% on Insider Buying Activity (INSY)
Insys Therapeutics (NASDAQ:INSY) rose 4.4% during mid-day trading on Friday after an insider bought additional shares in the company, Analyst Ratings Network reports. The stock traded as high as $26.20 and last traded at $26.12, with a volume of 665,631 shares trading hands. The stock had previously closed at $25.03.
Specifically, Director John N. Kapoor purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The shares were purchased at an average price of $24.54 per share, for a total transaction of $490,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
The stock’s 50-day moving average is $30.54 and its 200-day moving average is $35.12. The company has a market cap of $895.4 million and a P/E ratio of 17.74. Insys Therapeutics also was the recipient of a significant growth in short interest during the month of May. As of May 30th, there was short interest totalling 5,179,897 shares, a growth of 51.6% from the May 15th total of 3,416,044 shares. Currently, 51.9% of the company’s stock are sold short. Based on an average trading volume of 689,164 shares, the days-to-cover ratio is presently 7.5 days.
Insys Therapeutics (NASDAQ:INSY) last announced its earnings results on Tuesday, May 13th. The company reported $0.23 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.28 by $0.05. The company had revenue of $41.60 million for the quarter, compared to the consensus estimate of $45.63 million. During the same quarter last year, the company posted $0.01 earnings per share. Insys Therapeutics’s revenue was up 274.8% compared to the same quarter last year. On average, analysts predict that Insys Therapeutics will post $1.15 earnings per share for the current fiscal year.
Insys Therapeutics, Inc, is a pharmaceutical company that develops and seeks to commercialize pharmaceutical products that target the unmet needs of cancer patients, with an initial focus on cancer-supportive care.
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