Insys Therapeutics Inc (NASDAQ:INSY)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank Of Canada in a report issued on Wednesday. They presently have a $14.00 target price on the specialty pharmaceutical company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 78.80% from the stock’s previous close.
INSY has been the topic of a number of other research reports. BidaskClub upgraded shares of Insys Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Zacks Investment Research cut shares of Insys Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 9th. Piper Jaffray Companies set a $10.00 target price on shares of Insys Therapeutics and gave the company a “hold” rating in a report on Wednesday, July 26th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Insys Therapeutics in a report on Tuesday, July 4th. Finally, TheStreet cut shares of Insys Therapeutics from a “c-” rating to a “d+” rating in a report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $13.25.
Insys Therapeutics (NASDAQ:INSY) last announced its earnings results on Thursday, August 3rd. The specialty pharmaceutical company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.12. Insys Therapeutics had a negative net margin of 19.22% and a negative return on equity of 12.29%. The firm had revenue of $42.60 million for the quarter, compared to analysts’ expectations of $36.90 million. During the same quarter in the previous year, the business posted $0.13 EPS. The company’s quarterly revenue was down 38.4% on a year-over-year basis.
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In other news, major shareholder John N. Kapoor Trust Dated Sept purchased 17,500 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $8.93 per share, for a total transaction of $156,275.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Saeed Motahari purchased 5,500 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average price of $8.92 per share, for a total transaction of $49,060.00. Following the purchase, the chief executive officer now owns 15,400 shares in the company, valued at $137,368. The disclosure for this purchase can be found here. Insiders own 67.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in Insys Therapeutics in the 2nd quarter worth about $138,000. Voya Investment Management LLC bought a new position in Insys Therapeutics in the 2nd quarter worth about $149,000. BNP Paribas Arbitrage SA boosted 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 purchasing an additional 8,940 shares in the last quarter. Royal Bank of Canada boosted 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 purchasing an additional 6,877 shares in the last quarter. Finally, American International Group Inc. boosted 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 purchasing an additional 953 shares in the last quarter. Institutional investors own 25.44% 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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