Insys Therapeutics, Inc. (INSY) Given Average Recommendation of “Hold” by Analysts
Insys Therapeutics, Inc. (NASDAQ:INSY) has been assigned a consensus recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $12.67.
Several research analysts have issued reports on INSY shares. Zacks Investment Research upgraded shares of Insys Therapeutics from a “sell” rating to a “strong-buy” rating and set a $15.00 price target on the stock in a research report on Wednesday, July 12th. TheStreet lowered shares of Insys Therapeutics from a “c-” rating to a “d+” rating in a research report on Monday, August 21st. Jefferies Group LLC restated a “buy” rating and issued a $14.00 price target on shares of Insys Therapeutics in a research report on Friday, June 9th. Royal Bank Of Canada decreased their price target on shares of Insys Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, August 4th. Finally, BidaskClub lowered shares of Insys Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th.
Shares of Insys Therapeutics (NASDAQ:INSY) opened at 8.81 on Friday. Insys Therapeutics has a one year low of $8.70 and a one year high of $15.06. The firm’s 50-day moving average price is $9.45 and its 200-day moving average price is $11.15. The firm’s market cap is $640.45 million.
Insys Therapeutics (NASDAQ:INSY) last posted its quarterly earnings results on Thursday, August 3rd. The specialty pharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.12. The firm had revenue of $42.60 million for the quarter, compared to analyst estimates of $36.90 million. Insys Therapeutics had a negative net margin of 9.63% and a negative return on equity of 3.02%. The firm’s quarterly revenue was down 38.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 earnings per share. Equities research analysts expect that Insys Therapeutics will post ($0.29) earnings per share for the current fiscal year.
In other news, CEO Saeed Motahari acquired 5,500 shares of the stock in a transaction on Thursday, August 10th. The shares were purchased at an average cost of $8.92 per share, for a total transaction of $49,060.00. Following the transaction, the chief executive officer now owns 15,400 shares in the company, valued at approximately $137,368. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder John N. Kapoor Trust Dated Sept acquired 17,500 shares of the stock in a transaction on Friday, August 11th. The shares were purchased at an average price of $8.93 per share, for a total transaction of $156,275.00. Following the completion of the transaction, the insider now owns 31,982 shares in the company, valued at approximately $285,599.26. The disclosure for this purchase can be found here. Insiders own 67.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of INSY. Thrivent Financial For Lutherans purchased a new position in Insys Therapeutics during the 1st quarter worth approximately $1,058,000. Point72 Asset Management L.P. grew its position in Insys Therapeutics by 24.8% during the 1st quarter. Point72 Asset Management L.P. now owns 435,000 shares of the specialty pharmaceutical company’s stock worth $4,572,000 after purchasing an additional 86,373 shares in the last quarter. Alliancebernstein L.P. grew its position in Insys Therapeutics by 128.6% during the 2nd quarter. Alliancebernstein L.P. now owns 140,840 shares of the specialty pharmaceutical company’s stock worth $1,782,000 after purchasing an additional 79,220 shares in the last quarter. First Trust Advisors LP grew its position in Insys Therapeutics by 105.3% during the 1st quarter. First Trust Advisors LP now owns 147,788 shares of the specialty pharmaceutical company’s stock worth $1,553,000 after purchasing an additional 75,817 shares in the last quarter. Finally, Quantitative Investment Management LLC purchased a new position in Insys Therapeutics during the 2nd quarter worth approximately $879,000. Hedge funds and other institutional investors own 25.45% of the company’s stock.
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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