Insys Therapeutics, Inc. (NASDAQ:INSY) Receives Average Rating of “Hold” from Analysts
Insys Therapeutics, Inc. (NASDAQ:INSY) has received an average rating of “Hold” from the six analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $13.33.
Several research analysts have weighed in on the company. Royal Bank of Canada set a $16.00 target price on Insys Therapeutics and gave the stock a “buy” rating in a report on Saturday, June 3rd. BidaskClub upgraded Insys Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Insys Therapeutics in a report on Tuesday, July 4th. Jefferies Group LLC reduced their target price on Insys Therapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, April 4th. Finally, Piper Jaffray Companies lowered Insys Therapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $10.00 in a report on Wednesday, May 10th.
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Shares of Insys Therapeutics (NASDAQ:INSY) opened at 13.12 on Monday. Insys Therapeutics has a 52 week low of $8.70 and a 52 week high of $19.96. The stock’s market capitalization is $946.28 million. The company has a 50-day moving average price of $12.62 and a 200 day moving average price of $11.03.
Insys Therapeutics (NASDAQ:INSY) last posted its earnings results on Tuesday, May 9th. The specialty pharmaceutical company reported ($0.09) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. The firm had revenue of $35.92 million for the quarter, compared to analyst estimates of $37.78 million. Insys Therapeutics had a negative return on equity of 0.97% and a negative net margin of 2.64%. The company’s revenue for the quarter was down 40.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 earnings per share. Analysts forecast that Insys Therapeutics will post ($0.48) earnings per share for the current fiscal year.
In other news, Director Rohit Vishnoi purchased 4,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were bought at an average cost of $14.14 per share, for a total transaction of $56,560.00. Following the completion of the acquisition, the director now directly owns 4,000 shares in the company, valued at approximately $56,560. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Saeed Motahari purchased 4,500 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was purchased at an average price of $11.98 per share, for a total transaction of $53,910.00. Following the completion of the acquisition, the chief executive officer now owns 4,500 shares of the company’s stock, valued at $53,910. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 21,900 shares of company stock worth $268,090. Corporate insiders own 67.90% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Insys Therapeutics during the fourth quarter worth approximately $3,408,000. Thrivent Financial For Lutherans purchased a new stake in shares of Insys Therapeutics during the first quarter worth approximately $1,058,000. Point72 Asset Management L.P. raised its stake in shares of Insys Therapeutics by 24.8% in the first quarter. Point72 Asset Management L.P. now owns 435,000 shares of the specialty pharmaceutical company’s stock worth $4,572,000 after buying an additional 86,373 shares during the period. First Trust Advisors LP raised its stake in shares of Insys Therapeutics by 105.3% in the first quarter. First Trust Advisors LP now owns 147,788 shares of the specialty pharmaceutical company’s stock worth $1,553,000 after buying an additional 75,817 shares during the period. Finally, Credit Agricole S A raised its stake in shares of Insys Therapeutics by 20.0% in the first quarter. Credit Agricole S A now owns 374,400 shares of the specialty pharmaceutical company’s stock worth $3,935,000 after buying an additional 62,400 shares during the period. Institutional investors own 28.12% 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.
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