Insys Therapeutics Inc. (NASDAQ:INSY) has been given a consensus rating of “Buy” by the eight research firms that are currently covering the company. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $25.67.
Several research analysts have commented on INSY shares. Zacks Investment Research upgraded shares of Insys Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 9th. Royal Bank Of Canada lowered their target price on shares of Insys Therapeutics from $32.00 to $26.00 and set an “outperform” rating for the company in a report on Thursday, September 22nd. Piper Jaffray Cos. restated an “overweight” rating and issued a $28.00 target price on shares of Insys Therapeutics in a report on Wednesday, July 6th. RBC Capital Markets restated an “outperform” rating and issued a $26.00 target price (down previously from $32.00) on shares of Insys Therapeutics in a report on Friday, September 23rd. Finally, Jefferies Group restated a “buy” rating and issued a $22.00 target price (up previously from $17.00) on shares of Insys Therapeutics in a report on Thursday, August 4th.
Insys Therapeutics (NASDAQ:INSY) traded down 4.17% during mid-day trading on Thursday, reaching $12.19. 603,852 shares of the company traded hands. The stock’s 50 day moving average price is $15.00 and its 200 day moving average price is $15.17. Insys Therapeutics has a 52 week low of $11.45 and a 52 week high of $33.88. The firm has a market capitalization of $872.74 million, a price-to-earnings ratio of 18.36 and a beta of 1.93.
Insys Therapeutics (NASDAQ:INSY) last posted its quarterly earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by $0.01. Insys Therapeutics had a return on equity of 20.08% and a net margin of 16.03%. The firm had revenue of $67.10 million for the quarter, compared to analyst estimates of $66.90 million. During the same quarter last year, the firm earned $0.21 EPS. The company’s revenue was down 13.6% on a year-over-year basis. Equities analysts forecast that Insys Therapeutics will post $0.35 EPS for the current year.
In other Insys Therapeutics news, major shareholder John N. Kapoor Trust Dated Sept purchased 5,700 shares of Insys Therapeutics stock in a transaction that occurred on Friday, August 12th. The stock was purchased at an average price of $18.57 per share, for a total transaction of $105,849.00. Following the transaction, the insider now directly owns 31,982 shares in the company, valued at $593,905.74. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Theodore H. Stanley sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $18.02, for a total transaction of $270,300.00. Following the completion of the sale, the director now owns 17,000 shares of the company’s stock, valued at approximately $306,340. The disclosure for this sale can be found here. 69.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in INSY. HealthInvest Partners AB acquired a new stake in Insys Therapeutics during the second quarter valued at approximately $10,199,000. Bank of Montreal Can purchased a new position in shares of Insys Therapeutics during the second quarter worth approximately $304,000. Eqis Capital Management Inc. increased its position in shares of Insys Therapeutics by 6.3% in the second quarter. Eqis Capital Management Inc. now owns 94,774 shares of the specialty pharmaceutical company’s stock worth $1,226,000 after buying an additional 5,600 shares during the last quarter. Scopia Capital Management LP increased its position in shares of Insys Therapeutics by 53.0% in the first quarter. Scopia Capital Management LP now owns 8,912,072 shares of the specialty pharmaceutical company’s stock worth $142,504,000 after buying an additional 3,087,987 shares during the last quarter. Finally, Bellevue Group AG purchased a new position in shares of Insys Therapeutics during the first quarter worth approximately $4,493,000. Hedge funds and other institutional investors own 47.37% 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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