Insys Therapeutics, Inc. (NASDAQ:INSY) was upgraded by Zacks Investment Research from a “sell” rating to a “strong-buy” rating in a note issued to investors on Wednesday, July 12th. The brokerage currently has a $15.00 target price on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 68.35% from the company’s current price.
According to Zacks, “Insys Therapeutics, Inc. is a commercial-stage specialty pharmaceutical company. It is engaged in the development and commercialization of pharmaceutical products that target the unmet needs of cancer patients, with an initial focus on cancer-supportive care. The company’s cancer-supportive care and cancer therapy product candidates include Fentanyl sublingual spray and Dronabinol SG capsule. Insys Therapeutics, Inc. is based in Phoenix, Arizona. “
A number of other brokerages also recently weighed in on INSY. Royal Bank Of Canada set a $16.00 price target on Insys Therapeutics and gave the stock a “buy” rating in a research report on Saturday, June 3rd. BidaskClub raised Insys Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Insys Therapeutics in a research report on Tuesday, July 4th. Piper Jaffray Companies downgraded Insys Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $20.00 to $10.00 in a research report on Wednesday, May 10th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $14.00 price target on shares of Insys Therapeutics in a research report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $13.25.
Shares of Insys Therapeutics (NASDAQ INSY) traded down 1.66% on Wednesday, hitting $8.91. The stock had a trading volume of 565,643 shares. Insys Therapeutics has a 12-month low of $8.70 and a 12-month high of $18.50. The company’s 50-day moving average price is $11.86 and its 200 day moving average price is $11.42. The firm’s market cap is $647.72 million.
Insys Therapeutics (NASDAQ:INSY) last released its earnings results on Thursday, August 3rd. The specialty pharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.12. The business had revenue of $42.60 million for the quarter, compared to the consensus estimate of $36.90 million. Insys Therapeutics had a negative return on equity of 3.02% and a negative net margin of 9.63%. Insys Therapeutics’s quarterly revenue was down 38.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 earnings per share. On average, equities research analysts forecast that Insys Therapeutics will post ($0.29) earnings per share for the current fiscal year.
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In related news, Director Rohit Vishnoi purchased 4,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was acquired at an average cost of $14.14 per share, for a total transaction of $56,560.00. Following the completion of the purchase, the director now owns 4,000 shares in the company, valued at approximately $56,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven J. Meyer purchased 8,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was bought at an average price of $12.21 per share, with a total value of $97,680.00. Following the completion of the purchase, the director now owns 52,083 shares of the company’s stock, valued at approximately $635,933.43. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 27,400 shares of company stock valued at $317,150. Corporate insiders own 67.90% of the company’s stock.
Several large investors have recently modified their holdings of INSY. SG Americas Securities LLC purchased a new position in shares of Insys Therapeutics during the second quarter valued at approximately $138,000. American International Group Inc. increased its position in shares of Insys Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 14,462 shares of the specialty pharmaceutical company’s stock valued at $152,000 after buying an additional 953 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Insys Therapeutics by 213.2% in the second quarter. BNP Paribas Arbitrage SA now owns 13,133 shares of the specialty pharmaceutical company’s stock valued at $166,000 after buying an additional 8,940 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new position in shares of Insys Therapeutics during the first quarter valued at approximately $172,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Insys Therapeutics during the first quarter valued at approximately $188,000. Institutional investors own 28.15% 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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