Insys Therapeutics Inc. (INSY) Stock Price Down 4.7%
Insys Therapeutics Inc. (NASDAQ:INSY) fell 4.7% during trading on Wednesday . The company traded as low as $12.79 and last traded at $13.10, with a volume of 564,708 shares trading hands. The stock had previously closed at $13.75.
A number of research firms have recently commented on INSY. Zacks Investment Research lowered shares of Insys Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 9th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of Insys Therapeutics in a research note on Thursday, August 25th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $22.00 price objective (up from $17.00) on shares of Insys Therapeutics in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Insys Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $24.67.
The company has a market cap of $950.07 million, a price-to-earnings ratio of 19.98 and a beta of 1.93. The stock has a 50-day moving average of $15.81 and a 200 day moving average of $15.33.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/insys-therapeutics-inc-insy-stock-price-down-4-7.html
Insys Therapeutics (NASDAQ:INSY) last announced its earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.01. Insys Therapeutics had a net margin of 16.03% and a return on equity of 20.08%. The company had revenue of $67.10 million for the quarter, compared to the consensus estimate of $66.90 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was down 13.6% compared to the same quarter last year. On average, equities research analysts predict that Insys Therapeutics Inc. will post $0.39 EPS for the current year.
In other Insys Therapeutics news, VP Daniel Brennan sold 5,781 shares of Insys Therapeutics stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $19.16, for a total transaction of $110,763.96. Following the transaction, the vice president now directly owns 1 shares of the company’s stock, valued at $19.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Theodore H. Stanley sold 15,000 shares of Insys Therapeutics stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $18.02, for a total transaction of $270,300.00. Following the transaction, the director now directly owns 17,000 shares in the company, valued at $306,340. The disclosure for this sale can be found here. Company insiders own 69.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of INSY. Bank of Montreal Can acquired a new position in Insys Therapeutics during the second quarter valued at approximately $304,000. Eqis Capital Management Inc. increased its position in Insys Therapeutics by 6.3% in the second quarter. Eqis Capital Management Inc. now owns 94,774 shares of the specialty pharmaceutical company’s stock valued at $1,226,000 after buying an additional 5,600 shares during the period. Scopia Capital Management LP increased its position in Insys Therapeutics by 53.0% in the first quarter. Scopia Capital Management LP now owns 8,912,072 shares of the specialty pharmaceutical company’s stock valued at $142,504,000 after buying an additional 3,087,987 shares during the period. Bellevue Group AG acquired a new position in Insys Therapeutics during the first quarter valued at approximately $4,493,000. Finally, A.R.T. Advisors LLC increased its position in Insys Therapeutics by 980.4% in the first quarter. A.R.T. Advisors LLC now owns 105,461 shares of the specialty pharmaceutical company’s stock valued at $1,686,000 after buying an additional 95,700 shares during the period. 47.37% of the stock is currently owned by hedge funds and other institutional investors.
Insys Therapeutics Company Profile
Insys Therapeutics, Inc is a commercial-stage specialty pharmaceutical company. The Company develops and commercializes supportive care products. The Company’s product Subsys, is a sublingual fentanyl spray for breakthrough cancer pain (BTCP) in opioid-tolerant patients and a single-use product that delivers fentanyl, an opioid analgesic, for transmucosal absorption underneath the tongue.
Receive News & Ratings for Insys Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insys Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.