Insys Therapeutics Inc. (INSY) Raised to “Hold” at Zacks Investment Research
Insys Therapeutics Inc. (NASDAQ:INSY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Insys Therapeutics, Inc. is a commercial-stage specialty pharmaceutical company. It is engaged in the development and commercialization of pharmaceutical products that target the unmet needs of cancer patients, with an initial focus on cancer-supportive care. The company’s cancer-supportive care and cancer therapy product candidates include Fentanyl sublingual spray and Dronabinol SG capsule. Insys Therapeutics, Inc. is based in Phoenix, Arizona. “
Other equities research analysts have also issued reports about the stock. Jefferies Group reaffirmed a “buy” rating and issued a $22.00 price target (up from $17.00) on shares of Insys Therapeutics in a report on Thursday, August 4th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $26.00 price target (down from $32.00) on shares of Insys Therapeutics in a report on Friday, September 23rd. Royal Bank Of Canada lowered their target price on shares of Insys Therapeutics from $32.00 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, September 22nd. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $28.00 target price on shares of Insys Therapeutics in a research note on Wednesday, July 6th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $23.43.
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/2016/10/18/insys-therapeutics-inc-insy-raised-to-hold-at-zacks-investment-research.html
Shares of Insys Therapeutics (NASDAQ:INSY) traded up 3.49% during midday trading on Tuesday, hitting $11.26. The stock had a trading volume of 1,089,946 shares. The firm has a 50 day moving average price of $13.11 and a 200-day moving average price of $14.63. Insys Therapeutics has a 52-week low of $10.59 and a 52-week high of $33.88. The stock has a market cap of $806.16 million, a PE ratio of 16.96 and a beta of 1.49.
Insys Therapeutics (NASDAQ:INSY) last posted its quarterly earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.06 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 business earned $67.10 million during the quarter, compared to analysts’ expectations of $66.90 million. During the same period in the previous year, the company posted $0.21 earnings per share. Insys Therapeutics’s revenue for the quarter was down 13.6% compared to the same quarter last year. Equities analysts predict that Insys Therapeutics will post $0.35 EPS for the current fiscal year.
In related news, Director Theodore H. Stanley sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $18.02, for a total transaction of $270,300.00. Following the completion of the transaction, the director now owns 17,000 shares in the company, valued at approximately $306,340. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder John N. Kapoor Trust Dated Sept purchased 5,700 shares of Insys Therapeutics stock in a transaction that occurred on Friday, August 12th. The shares were bought at an average price of $18.57 per share, with a total value of $105,849.00. Following the transaction, the insider now owns 31,982 shares in the company, valued at $593,905.74. The disclosure for this purchase can be found here. Corporate insiders own 69.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 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. HealthInvest Partners AB bought a new position in Insys Therapeutics during the second quarter valued at $10,199,000. Freshford Capital Management LLC bought a new position in Insys Therapeutics during the second quarter valued at $6,159,000. Bellevue Group AG bought a new position in Insys Therapeutics during the first quarter valued at $4,493,000. Finally, Credit Agricole S A increased its position in 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. Hedge funds and other institutional investors own 47.31% of the company’s stock.
About Insys Therapeutics
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.