Zacks: Analysts Expect Insys Therapeutics, Inc. (INSY) Will Announce Quarterly Sales of $35.29 Million
Wall Street analysts expect that Insys Therapeutics, Inc. (NASDAQ:INSY) will announce sales of $35.29 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Insys Therapeutics’ earnings. The lowest sales estimate is $32.94 million and the highest is $40.00 million. Insys Therapeutics reported sales of $55.18 million during the same quarter last year, which would suggest a negative year over year growth rate of 36%. The business is scheduled to report its next earnings report on Thursday, November 2nd.
On average, analysts expect that Insys Therapeutics will report full year sales of $35.29 million for the current fiscal year, with estimates ranging from $147.97 million to $167.00 million. For the next financial year, analysts forecast that the firm will report sales of $181.12 million per share, with estimates ranging from $173.22 million to $186.13 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for 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 for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.12. Insys Therapeutics had a negative net margin of 9.63% and a negative return on equity of 3.02%. The business had revenue of $42.60 million during the quarter, compared to analyst estimates of $36.90 million. During the same period in the previous year, the business earned $0.13 EPS. Insys Therapeutics’s revenue was down 38.4% compared to the same quarter last year.
Several research firms have recently commented on INSY. BidaskClub raised shares of Insys Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. TheStreet downgraded shares of Insys Therapeutics from a “c-” rating to a “d+” rating in a report on Monday, August 21st. Zacks Investment Research downgraded shares of Insys Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 9th. Royal Bank Of Canada cut their target price on shares of Insys Therapeutics from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Insys Therapeutics in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Insys Therapeutics presently has an average rating of “Hold” and a consensus target price of $13.25.
In other news, major shareholder John N. Kapoor Trust Dated Sept acquired 17,500 shares of Insys Therapeutics stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $8.93 per share, with a total value of $156,275.00. Following the completion of the purchase, the insider now directly owns 31,982 shares in the company, valued at approximately $285,599.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Saeed Motahari acquired 5,500 shares of Insys Therapeutics stock in a transaction dated Thursday, August 10th. The stock was purchased at an average cost of $8.92 per share, with a total value of $49,060.00. Following the completion of the purchase, the chief executive officer now owns 15,400 shares of the company’s stock, valued at $137,368. The disclosure for this purchase can be found here. Corporate insiders own 67.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in Insys Therapeutics in the 2nd quarter worth $138,000. Voya Investment Management LLC purchased a new stake in Insys Therapeutics in the 2nd quarter worth $149,000. BNP Paribas Arbitrage SA increased its stake in Insys Therapeutics by 213.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,133 shares of the specialty pharmaceutical company’s stock worth $166,000 after buying an additional 8,940 shares in the last quarter. Royal Bank of Canada increased its stake in Insys Therapeutics by 100.9% in the 2nd quarter. Royal Bank of Canada now owns 13,695 shares of the specialty pharmaceutical company’s stock worth $173,000 after buying an additional 6,877 shares in the last quarter. Finally, American International Group Inc. increased its stake in Insys Therapeutics by 7.1% in the 1st quarter. American International Group Inc. now owns 14,462 shares of the specialty pharmaceutical company’s stock worth $152,000 after buying an additional 953 shares in the last quarter. Institutional investors own 25.45% of the company’s stock.
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Shares of Insys Therapeutics (NASDAQ INSY) opened at 9.572 on Wednesday. The firm’s 50-day moving average is $9.24 and its 200-day moving average is $11.02. The company’s market cap is $695.85 million. Insys Therapeutics has a one year low of $8.68 and a one year high of $15.06.
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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