Jefferies Group restated their buy rating on shares of Insys Therapeutics Inc. (NASDAQ:INSY) in a research note released on Monday. The firm currently has a $18.00 target price on the specialty pharmaceutical company’s stock, down from their previous target price of $22.00.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research raised Insys Therapeutics from a hold rating to a buy rating and set a $14.00 price objective for the company in a research note on Wednesday, June 29th. Royal Bank Of Canada reduced their price objective on Insys Therapeutics from $32.00 to $26.00 and set an outperform rating for the company in a research note on Thursday, September 22nd. RBC Capital Markets reaffirmed an outperform rating and set a $26.00 price target (down from $32.00) on shares of Insys Therapeutics in a research note on Friday, September 23rd. Finally, Piper Jaffray Cos. reaffirmed an overweight rating and set a $28.00 price target on shares of Insys Therapeutics in a research note on Wednesday, July 6th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Insys Therapeutics currently has an average rating of Buy and an average target price of $23.43.
Insys Therapeutics (NASDAQ:INSY) opened at 11.87 on Monday. The firm has a 50-day moving average price of $13.56 and a 200-day moving average price of $14.78. Insys Therapeutics has a 12-month low of $11.45 and a 12-month high of $33.88. The stock has a market cap of $849.83 million, a PE ratio of 17.88 and a beta of 1.49.
Insys Therapeutics (NASDAQ:INSY) last announced its quarterly earnings data on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.01. The business earned $67.10 million during the quarter, compared to analysts’ expectations of $66.90 million. Insys Therapeutics had a return on equity of 20.08% and a net margin of 16.03%. The firm’s revenue was down 13.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. Analysts forecast that Insys Therapeutics will post $0.35 EPS for the current fiscal year.
In related news, major shareholder John N. Kapoor Trust Dated Sept acquired 5,700 shares of the stock in a transaction dated Friday, August 12th. The shares were acquired at an average price of $18.57 per share, with a total value of $105,849.00. Following the acquisition, the insider now owns 31,982 shares in the company, valued at approximately $593,905.74. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patrick Fourteau sold 15,000 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $18.46, for a total value of $276,900.00. Following the transaction, the director now directly owns 49,682 shares in the company, valued at approximately $917,129.72. The disclosure for this sale can be found here. Insiders own 69.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc raised its position in shares of Insys Therapeutics by 16.3% in the first quarter. Legal & General Group Plc now owns 6,247 shares of the specialty pharmaceutical company’s stock worth $100,000 after buying an additional 876 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Insys Therapeutics by 18.1% in the second quarter. Parametric Portfolio Associates LLC now owns 15,197 shares of the specialty pharmaceutical company’s stock worth $197,000 after buying an additional 2,328 shares in the last quarter. Acrospire Investment Management LLC raised its position in shares of Insys Therapeutics by 184.9% in the second quarter. Acrospire Investment Management LLC now owns 17,095 shares of the specialty pharmaceutical company’s stock worth $221,000 after buying an additional 11,095 shares in the last quarter. Clinton Group Inc. bought a new position in shares of Insys Therapeutics during the second quarter worth approximately $225,000. Finally, AHL Partners LLP bought a new position in shares of Insys Therapeutics during the second quarter worth approximately $286,000. 47.36% of the stock is currently owned by institutional investors and hedge funds.
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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