Insys Therapeutics Sees Large Volume Increase After Earnings Beat (INSY)
Shares of Insys Therapeutics (NASDAQ:INSY) saw unusually-strong trading volume on Tuesday after the company announced better than expected quarterly earnings, Analyst Ratings News reports. Approximately 1,035,115 shares traded hands during mid-day trading, an increase of 61% from the previous session’s volume of 643,328 shares.The stock last traded at $32.16 and had previously closed at $30.42.
The company reported $0.58 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.30 by $0.28. The company had revenue of $55.70 million for the quarter, compared to the consensus estimate of $52.77 million.
The stock has a 50-day moving average of $28.1 and a 200-day moving average of $34.76. The company has a market cap of $1.086 billion and a price-to-earnings ratio of 21.56.
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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