Zacks: Analysts Expect Insys Therapeutics, Inc. (NASDAQ:INSY) Will Announce Earnings of -$0.11 Per Share
Wall Street analysts expect Insys Therapeutics, Inc. (NASDAQ:INSY) to report earnings of ($0.11) per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Insys Therapeutics’ earnings. The company is scheduled to announce its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Insys Therapeutics will report full year earnings of ($0.43) per share for the current fiscal year. For the next financial year, analysts forecast that the company will post earnings of ($0.28) per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Insys Therapeutics.
Insys Therapeutics (NASDAQ:INSY) last released its quarterly earnings data on Thursday, August 3rd. The specialty pharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.12. The firm had revenue of $42.60 million during the quarter, compared to analysts’ expectations of $36.90 million. Insys Therapeutics had a negative return on equity of 3.01% and a negative net margin of 9.63%. The business’s revenue for the quarter was down 38.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 earnings per share.
A number of equities analysts have issued reports on INSY shares. Royal Bank Of Canada reiterated a “buy” rating and set a $16.00 target price on shares of Insys Therapeutics in a report on Friday, April 28th. Jefferies Group LLC reiterated a “buy” rating and set a $14.00 target price on shares of Insys Therapeutics in a report on Friday, June 9th. BidaskClub upgraded Insys Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Insys Therapeutics in a report on Tuesday, July 4th. Finally, Piper Jaffray Companies set a $10.00 target price on Insys Therapeutics and gave the stock a “hold” rating in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Insys Therapeutics has an average rating of “Buy” and an average price target of $13.25.
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In related news, CEO Saeed Motahari acquired 4,500 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was bought at an average price of $11.98 per share, for a total transaction of $53,910.00. Following the acquisition, the chief executive officer now directly owns 4,500 shares of the company’s stock, valued at $53,910. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rohit Vishnoi acquired 4,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was bought at an average price of $14.14 per share, with a total value of $56,560.00. Following the acquisition, the director now directly owns 4,000 shares in the company, valued at $56,560. The disclosure for this purchase can be found here. Insiders bought a total of 21,900 shares of company stock valued at $268,090 in the last 90 days. 67.90% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of Insys Therapeutics during the second quarter valued at $138,000. American International Group Inc. boosted its position in shares of Insys Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 14,462 shares of the specialty pharmaceutical company’s stock valued at $152,000 after buying an additional 953 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Insys Therapeutics by 213.2% in the second quarter. BNP Paribas Arbitrage SA now owns 13,133 shares of the specialty pharmaceutical company’s stock valued at $166,000 after buying an additional 8,940 shares during the last quarter. UBS Asset Management Americas Inc. bought a new position in shares of Insys Therapeutics during the first quarter valued at $172,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Insys Therapeutics during the first quarter valued at $188,000. Institutional investors own 28.15% of the company’s stock.
Insys Therapeutics (INSY) traded down 0.30% during mid-day trading on Monday, reaching $9.97. The company had a trading volume of 793,360 shares. The firm’s 50-day moving average price is $12.35 and its 200-day moving average price is $11.49. Insys Therapeutics has a 12 month low of $8.70 and a 12 month high of $19.96. The stock’s market cap is $719.09 million.
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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