Zacks: Analysts Expect Insys Therapeutics, Inc. (INSY) Will Post Quarterly Sales of $34.96 Million
Equities analysts forecast that Insys Therapeutics, Inc. (NASDAQ:INSY) will announce sales of $34.96 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Insys Therapeutics’ earnings, with estimates ranging from $32.94 million to $39.00 million. Insys Therapeutics posted sales of $55.18 million during the same quarter last year, which would suggest a negative year over year growth rate of 36.6%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, November 2nd.
On average, analysts expect that Insys Therapeutics will report full-year sales of $34.96 million for the current fiscal year, with estimates ranging from $147.97 million to $155.00 million. For the next financial year, analysts anticipate that the business will report sales of $174.78 million per share, with estimates ranging from $165.00 million to $186.13 million. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Insys Therapeutics.
Insys Therapeutics (NASDAQ:INSY) last issued its quarterly earnings results on Thursday, August 3rd. The specialty pharmaceutical company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $42.60 million during the quarter, compared to analysts’ expectations of $36.90 million. During the same quarter last year, the company posted $0.13 EPS. The firm’s revenue was down 38.4% compared to the same quarter last year.
Several research firms have recently issued reports on INSY. BidaskClub raised shares of Insys Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Royal Bank Of Canada dropped their price objective 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. Zacks Investment Research lowered shares of Insys Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Piper Jaffray Companies set a $10.00 price objective on shares of Insys Therapeutics and gave the stock a “hold” rating in a research report on Wednesday, July 26th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Insys Therapeutics in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $11.63.
In other news, CEO Saeed Motahari bought 5,500 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was bought at an average cost of $8.92 per share, for a total transaction of $49,060.00. Following the completion of the acquisition, the chief executive officer now directly owns 15,400 shares in the company, valued at approximately $137,368. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder John N. Kapoor Trust Dated Sept bought 17,500 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was purchased at an average price of $8.93 per share, with a total value of $156,275.00. Following the completion of the acquisition, the insider now owns 31,982 shares of the company’s stock, valued at $285,599.26. The disclosure for this purchase can be found here. Insiders own 67.90% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Insys Therapeutics in the second quarter worth about $138,000. Voya Investment Management LLC acquired a new position in shares of Insys Therapeutics in the second quarter worth about $149,000. American International Group Inc. boosted its holdings in shares of Insys Therapeutics by 7.1% during the first quarter. American International Group Inc. now owns 14,462 shares of the specialty pharmaceutical company’s stock worth $152,000 after purchasing an additional 953 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Insys Therapeutics by 213.2% during the second quarter. BNP Paribas Arbitrage SA now owns 13,133 shares of the specialty pharmaceutical company’s stock worth $166,000 after purchasing an additional 8,940 shares during the period. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of Insys Therapeutics during the first quarter worth approximately $172,000. Institutional investors own 25.44% of the company’s stock.
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Shares of Insys Therapeutics (NASDAQ:INSY) traded down 1.4442% during trading on Monday, reaching $7.5001. 208,778 shares of the company’s stock traded hands. The company’s market capitalization is $545.23 million. The stock has a 50-day moving average of $8.77 and a 200-day moving average of $10.78. Insys Therapeutics has a 1-year low of $7.27 and a 1-year high of $15.06.
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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