Insys Therapeutics Inc (INSY) Short Interest Up 32.1% in January

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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.

Shares of Insys Therapeutics stock opened at $4.39 on Tuesday. Insys Therapeutics has a 52-week low of $3.35 and a 52-week high of $11.65. The firm has a market capitalization of $326.79 million, a PE ratio of -8.96 and a beta of 2.30.

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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?

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