Insys Therapeutics Inc. (INSY) Upgraded 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 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. “
A number of other brokerages also recently issued reports on INSY. Royal Bank Of Canada reduced their price target on shares of Insys Therapeutics from $32.00 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 22nd. Piper Jaffray Cos. reissued an “overweight” rating and issued a $28.00 price objective on shares of Insys Therapeutics in a research note on Wednesday, July 6th. RBC Capital Markets reissued an “outperform” rating and issued a $26.00 price objective (down from $32.00) on shares of Insys Therapeutics in a research note on Friday, September 23rd. Finally, Jefferies Group reissued 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $23.43.
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Insys Therapeutics (NASDAQ:INSY) traded up 3.49% during trading on Tuesday, reaching $11.26. 1,089,946 shares of the company were exchanged. Insys Therapeutics has a 1-year low of $10.59 and a 1-year high of $33.88. The company’s 50-day moving average price is $13.11 and its 200-day moving average price is $14.63. The stock has a market capitalization of $806.16 million, a P/E ratio of 16.96 and a beta of 1.49.
Insys Therapeutics (NASDAQ:INSY) last announced its quarterly earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by $0.01. The company earned $67.10 million during the quarter, compared to the consensus estimate of $66.90 million. Insys Therapeutics had a net margin of 16.03% and a return on equity of 20.08%. The business’s revenue was down 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. On average, equities analysts forecast that Insys Therapeutics will post $0.35 EPS for the current year.
In other news, major shareholder John N. Kapoor Trust Dated Sept purchased 5,700 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was purchased at an average cost of $18.57 per share, with a total value of $105,849.00. Following the purchase, the insider now owns 31,982 shares in the company, valued at $593,905.74. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Theodore H. Stanley sold 15,000 shares of Insys Therapeutics stock in a transaction dated 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 of the company’s stock, valued at $306,340. The disclosure for this sale can be found here. Corporate insiders own 69.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in INSY. Parametric Portfolio Associates LLC boosted its position in Insys Therapeutics by 18.1% in the second quarter. Parametric Portfolio Associates LLC now owns 15,197 shares of the specialty pharmaceutical company’s stock worth $197,000 after buying an additional 2,328 shares in the last quarter. Acrospire Investment Management LLC boosted its stake in Insys Therapeutics by 184.9% in the second quarter. Acrospire Investment Management LLC now owns 17,095 shares of the specialty pharmaceutical company’s stock valued at $221,000 after buying an additional 11,095 shares during the period. Clinton Group Inc. bought a new stake in Insys Therapeutics during the second quarter valued at about $225,000. AHL Partners LLP bought a new stake in Insys Therapeutics during the second quarter valued at about $286,000. Finally, Bank of Montreal Can bought a new stake in Insys Therapeutics during the second quarter valued at about $304,000. 47.31% 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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