Wall Street brokerages forecast that Insys Therapeutics, Inc. (NASDAQ:INSY) will post sales of $35.25 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Insys Therapeutics’ earnings. The lowest sales estimate is $32.81 million and the highest is $40.00 million. Insys Therapeutics reported sales of $55.18 million during the same quarter last year, which indicates a negative year-over-year growth rate of 36.1%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 2nd.
On average, analysts expect that Insys Therapeutics will report full year sales of $35.25 million for the current financial year, with estimates ranging from $142.04 million to $167.00 million. For the next financial year, analysts expect that the company will post sales of $181.12 million per share, with estimates ranging from $173.22 million to $186.13 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Insys Therapeutics.
Insys Therapeutics (NASDAQ:INSY) last issued its quarterly earnings results on Thursday, August 3rd. The specialty pharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.12. Insys Therapeutics had a negative return on equity of 3.01% and a negative net margin of 9.63%. The firm had revenue of $42.60 million for the quarter, compared to analyst estimates of $36.90 million. During the same period in the previous year, the firm earned $0.13 earnings per share. The company’s revenue was down 38.4% compared to the same quarter last year.
INSY has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Insys Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, April 11th. Royal Bank Of Canada reiterated a “buy” rating and issued a $16.00 price objective on shares of Insys Therapeutics in a research report on Friday, April 28th. Piper Jaffray Companies lowered Insys Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $20.00 to $10.00 in a research report on Wednesday, May 10th. Jefferies Group LLC restated a “buy” rating and issued a $14.00 target price on shares of Insys Therapeutics in a research note on Friday, June 9th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Insys Therapeutics in a research note on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $13.25.
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In other news, Director Rohit Vishnoi bought 4,000 shares of the stock in a transaction dated Thursday, June 1st. The stock was bought at an average price of $14.14 per share, for a total transaction of $56,560.00. Following the purchase, the director now directly owns 4,000 shares in the company, valued at approximately $56,560. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Saeed Motahari bought 5,400 shares of the stock in a transaction dated Wednesday, June 14th. The stock was purchased at an average price of $11.10 per share, with a total value of $59,940.00. Following the purchase, the chief executive officer now owns 9,900 shares in the company, valued at $109,890. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 21,900 shares of company stock valued at $268,090. 67.90% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Insys Therapeutics during the fourth quarter worth approximately $3,408,000. Thrivent Financial For Lutherans purchased a new position in Insys Therapeutics during the first quarter worth approximately $1,058,000. Point72 Asset Management L.P. boosted its position in Insys Therapeutics by 24.8% in the first quarter. Point72 Asset Management L.P. now owns 435,000 shares of the specialty pharmaceutical company’s stock worth $4,572,000 after buying an additional 86,373 shares during the last quarter. First Trust Advisors LP boosted its position in Insys Therapeutics by 105.3% in the first quarter. First Trust Advisors LP now owns 147,788 shares of the specialty pharmaceutical company’s stock worth $1,553,000 after buying an additional 75,817 shares during the last quarter. Finally, Credit Agricole S A boosted its position in Insys Therapeutics by 20.0% in the first quarter. Credit Agricole S A now owns 374,400 shares of the specialty pharmaceutical company’s stock worth $3,935,000 after buying an additional 62,400 shares during the last quarter. Institutional investors own 28.15% of the company’s stock.
Insys Therapeutics (INSY) opened at 9.31 on Wednesday. The firm has a 50-day moving average price of $12.27 and a 200 day moving average price of $11.46. Insys Therapeutics has a 52 week low of $8.70 and a 52 week high of $19.96. The firm’s market capitalization is $671.48 million.
About Insys Therapeutics
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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