Jefferies Group Reaffirms “Buy” Rating for Insys Therapeutics Inc. (INSY)
Insys Therapeutics Inc. (NASDAQ:INSY)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Group in a research report issued to clients and investors on Monday. They presently have a $18.00 target price on the specialty pharmaceutical company’s stock, down from their prior target price of $22.00. Jefferies Group’s price objective would indicate a potential upside of 47.42% from the stock’s current price.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Insys Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. RBC Capital Markets reiterated an “outperform” rating and issued a $26.00 price target (down from $32.00) on shares of Insys Therapeutics in a research report on Friday, September 23rd. Royal Bank Of Canada reduced their price target on Insys Therapeutics from $32.00 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, September 22nd. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $28.00 price target on shares of Insys Therapeutics in a research report on Wednesday, July 6th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $23.43.
Insys Therapeutics (NASDAQ:INSY) traded down 2.62% during trading on Monday, reaching $11.89. The company’s stock had a trading volume of 199,940 shares. The company has a market cap of $851.26 million, a PE ratio of 17.91 and a beta of 1.49. Insys Therapeutics has a 52-week low of $11.45 and a 52-week high of $33.88. The stock has a 50-day moving average price of $13.69 and a 200 day moving average price of $14.80.
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Insys Therapeutics (NASDAQ:INSY) last announced its quarterly earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The company earned $67.10 million during the quarter, compared to analysts’ expectations of $66.90 million. Insys Therapeutics had a net margin of 16.03% and a return on equity of 20.08%. Insys Therapeutics’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 earnings per share. On average, analysts expect that Insys Therapeutics will post $0.35 EPS for the current year.
In other Insys Therapeutics news, VP Daniel Brennan sold 5,781 shares of Insys Therapeutics stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $19.16, for a total transaction of $110,763.96. Following the completion of the sale, the vice president now owns 1 shares of the company’s stock, valued at $19.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Patrick Fourteau sold 15,000 shares of Insys Therapeutics stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $18.46, for a total value of $276,900.00. Following the sale, the director now directly owns 49,682 shares of the company’s stock, valued at approximately $917,129.72. The disclosure for this sale can be found here. Company insiders own 69.20% of the company’s stock.
Large investors have recently modified their holdings of the company. BlackRock Fund Advisors raised its stake in shares of Insys Therapeutics by 5.9% in the first quarter. BlackRock Fund Advisors now owns 1,498,868 shares of the specialty pharmaceutical company’s stock valued at $23,967,000 after buying an additional 83,040 shares during the period. Credit Agricole S A raised its stake in shares of Insys Therapeutics by 688.0% in the first quarter. Credit Agricole S A now owns 192,000 shares of the specialty pharmaceutical company’s stock valued at $3,070,000 after buying an additional 167,634 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in shares of Insys Therapeutics by 50.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 400,000 shares of the specialty pharmaceutical company’s stock valued at $6,396,000 after buying an additional 135,000 shares during the period. Legal & General Group Plc raised its stake in shares of Insys Therapeutics by 16.3% in the first quarter. Legal & General Group Plc now owns 6,247 shares of the specialty pharmaceutical company’s stock valued at $100,000 after buying an additional 876 shares during the period. Finally, A.R.T. Advisors LLC raised its stake in shares of 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. 47.36% of the stock is 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.
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