Steven J. Meyer Acquires 8,000 Shares of Insys Therapeutics Inc (INSY) Stock
Insys Therapeutics Inc (NASDAQ:INSY) Director Steven J. Meyer purchased 8,000 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was purchased at an average cost of $12.21 per share, with a total value of $97,680.00. Following the completion of the acquisition, the director now owns 52,083 shares in the company, valued at $635,933.43. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Insys Therapeutics Inc (NASDAQ:INSY) traded up 0.91% during mid-day trading on Thursday, hitting $12.20. 373,849 shares of the stock traded hands. Insys Therapeutics Inc has a 12 month low of $8.70 and a 12 month high of $19.96. The company’s 50 day moving average is $10.95 and its 200 day moving average is $10.87. The company’s market cap is $879.93 million.
Insys Therapeutics (NASDAQ:INSY) last issued its earnings results on Tuesday, May 9th. The specialty pharmaceutical company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.01. Insys Therapeutics had a net margin of 8.71% and a return on equity of 9.39%. The firm had revenue of $35.92 million during the quarter, compared to analyst estimates of $37.78 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. Insys Therapeutics’s revenue for the quarter was down 40.5% on a year-over-year basis. On average, analysts expect that Insys Therapeutics Inc will post ($0.48) earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of Insys Therapeutics during the fourth quarter worth $3,408,000. Credit Agricole S A raised its position in shares of Insys Therapeutics by 62.5% in the fourth quarter. Credit Agricole S A now owns 312,000 shares of the specialty pharmaceutical company’s stock worth $2,870,000 after buying an additional 120,000 shares in the last quarter. Scopia Capital Management LP bought a new position in shares of Insys Therapeutics during the third quarter worth $107,631,000. Bowling Portfolio Management LLC bought a new position in shares of Insys Therapeutics during the first quarter worth $655,000. Finally, BlackRock Inc. raised its position in shares of Insys Therapeutics by 23.4% in the third quarter. BlackRock Inc. now owns 55,675 shares of the specialty pharmaceutical company’s stock worth $656,000 after buying an additional 10,570 shares in the last quarter. Hedge funds and other institutional investors own 45.21% of the company’s stock.
Several analysts have recently weighed in on INSY shares. Oppenheimer Holdings Inc. restated a “” rating on shares of Insys Therapeutics in a research report on Thursday, January 19th. Zacks Investment Research cut shares of Insys Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, January 23rd. Jefferies Group LLC restated a “buy” rating and set a $16.00 price objective on shares of Insys Therapeutics in a research report on Thursday, March 16th. Royal Bank of Canada set a $16.00 price objective on shares of Insys Therapeutics and gave the company a “buy” rating in a research report on Monday, March 27th. Finally, Piper Jaffray Companies cut shares of Insys Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $20.00 to $10.00 in a research report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $13.50.
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.
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