Zacks: Brokerages Expect Insys Therapeutics Inc (INSY) Will Post Quarterly Sales of $32.27 Million

Equities research analysts expect Insys Therapeutics Inc (NASDAQ:INSY) to report sales of $32.27 million for the current quarter, Zacks reports. Three analysts have issued estimates for Insys Therapeutics’ earnings, with the highest sales estimate coming in at $34.00 million and the lowest estimate coming in at $30.82 million. Insys Therapeutics posted sales of $54.86 million in the same quarter last year, which suggests a negative year-over-year growth rate of 41.2%. The business is scheduled to issue its next quarterly earnings results on Monday, April 2nd.

According to Zacks, analysts expect that Insys Therapeutics will report full year sales of $32.27 million for the current financial year, with estimates ranging from $140.03 million to $150.90 million. For the next year, analysts anticipate that the business will post sales of $161.19 million per share, with estimates ranging from $141.00 million to $186.13 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Insys Therapeutics.

Insys Therapeutics (NASDAQ:INSY) last issued its earnings results on Thursday, November 2nd. The specialty pharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Insys Therapeutics had a negative net margin of 112.56% and a negative return on equity of 11.76%.

INSY has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Insys Therapeutics in a report on Wednesday, October 11th. Zacks Investment Research upgraded Insys Therapeutics from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research report on Wednesday, October 18th. Oppenheimer reiterated a “hold” rating on shares of Insys Therapeutics in a research report on Monday, October 30th. Jefferies Group dropped their price target on Insys Therapeutics from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Finally, ValuEngine upgraded Insys Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $9.38.

A number of large investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new position in shares of Insys Therapeutics in the third quarter worth about $119,000. Janney Montgomery Scott LLC acquired a new position in shares of Insys Therapeutics during the 3rd quarter worth about $135,000. SG Americas Securities LLC acquired a new stake in Insys Therapeutics in the 2nd quarter valued at about $138,000. Voya Investment Management LLC acquired a new stake in Insys Therapeutics in the 2nd quarter valued at about $149,000. Finally, BNP Paribas Arbitrage SA raised its holdings 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 valued at $166,000 after acquiring an additional 8,940 shares during the last quarter. 25.60% of the stock is currently owned by institutional investors.

Insys Therapeutics (NASDAQ:INSY) traded up $0.16 during mid-day trading on Friday, hitting $8.69. The stock had a trading volume of 871,041 shares, compared to its average volume of 2,440,000. Insys Therapeutics has a 52-week low of $4.10 and a 52-week high of $15.02. The stock has a market cap of $637.12, a P/E ratio of -3.41 and a beta of 0.76.

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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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