Insys Therapeutics Inc (NASDAQ:INSY) was the target of a large increase in short interest in January. As of January 31st, there was short interest totalling 8,534,908 shares, an increase of 32.1% from the January 15th total of 6,458,929 shares. Based on an average daily trading volume, of 1,072,688 shares, the short-interest ratio is presently 8.0 days. Approximately 31.8% of the shares of the stock are short sold.
A number of research firms have commented on INSY. Zacks Investment Research raised shares of Insys Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, January 4th. ValuEngine cut shares of Insys Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, December 13th. Cantor Fitzgerald began coverage on shares of Insys Therapeutics in a research note on Tuesday, January 22nd. They issued an “overweight” rating and a $4.40 price target for the company. Finally, Janney Montgomery Scott set a $11.00 price target on shares of Insys Therapeutics and gave the stock a “buy” rating in a research note on Saturday, January 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $7.68.
Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of Insys Therapeutics by 8.9% in the 4th quarter. Bank of New York Mellon Corp now owns 118,434 shares of the specialty pharmaceutical company’s stock valued at $414,000 after purchasing an additional 9,689 shares in the last quarter. ETF Managers Group LLC purchased a new stake in shares of Insys Therapeutics in the 4th quarter valued at $5,076,000. Rhumbline Advisers boosted its stake in shares of Insys Therapeutics by 46.3% in the 4th quarter. Rhumbline Advisers now owns 36,822 shares of the specialty pharmaceutical company’s stock valued at $129,000 after purchasing an additional 11,657 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Insys Therapeutics in the 4th quarter valued at $26,000. Finally, Vanguard Group Inc boosted its stake in shares of Insys Therapeutics by 4.7% in the 3rd quarter. Vanguard Group Inc now owns 2,661,324 shares of the specialty pharmaceutical company’s stock valued at $26,825,000 after purchasing an additional 119,776 shares in the last quarter. 19.04% of the stock is owned by institutional investors.
ILLEGAL ACTIVITY WARNING: “Insys Therapeutics Inc (INSY) Short Interest Up 32.1% in January” was originally reported by Ticker Report and is the sole property of of Ticker Report. If you are viewing this piece on another site, it was copied illegally and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.tickerreport.com/banking-finance/4144775/insys-therapeutics-inc-insy-short-interest-up-32-1-in-january.html.
Insys Therapeutics Company Profile
Insys Therapeutics, Inc, a specialty pharmaceutical company, develops and commercializes supportive care products. The company markets SUBSYS, a sublingual fentanyl spray for breakthrough cancer pain in opioid-tolerant adult patients; and SYNDROS, an orally administered liquid formulation of dronabinol for the treatment of chemotherapy-induced nausea and vomiting, and anorexia associated with weight loss in patients with AIDS.
Further Reading: How Do Front-End Loads Impact an Investment?
Receive News & Ratings for Insys Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insys Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.