Insys Therapeutics, Inc. (INSY) Price Target Cut to $11.00 by Analysts at Jefferies Group LLC

Insys Therapeutics, Inc. (NASDAQ:INSY) had its target price decreased by Jefferies Group LLC from $14.00 to $11.00 in a research note released on Friday morning. Jefferies Group LLC currently has a buy rating on the specialty pharmaceutical company’s stock.

INSY has been the topic of several other research reports. Zacks Investment Research cut Insys Therapeutics from a buy rating to a hold rating in a report on Wednesday, October 25th. Royal Bank Of Canada reissued an outperform rating and set a $14.00 price objective on shares of Insys Therapeutics in a report on Wednesday, October 11th. TheStreet cut Insys Therapeutics from a c- rating to a d+ rating in a report on Monday, August 21st. Finally, BidaskClub cut Insys Therapeutics from a sell rating to a strong sell rating in a report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $9.38.

Insys Therapeutics (INSY) traded down $0.01 during trading hours on Friday, hitting $5.10. The company’s stock had a trading volume of 914,221 shares, compared to its average volume of 1,000,759. Insys Therapeutics has a 1 year low of $4.10 and a 1 year high of $15.06.

Insys Therapeutics (NASDAQ:INSY) last released its quarterly earnings results on Thursday, August 3rd. The specialty pharmaceutical company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.12. Insys Therapeutics had a negative return on equity of 9.98% and a negative net margin of 112.56%. The firm had revenue of $42.60 million for the quarter, compared to analysts’ expectations of $36.90 million. During the same quarter last year, the firm posted $0.13 EPS. The company’s revenue was down 38.4% compared to the same quarter last year. equities research analysts forecast that Insys Therapeutics will post -0.62 earnings per share for the current year.

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In other news, CEO Saeed Motahari acquired 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average cost of $8.92 per share, with a total value of $49,060.00. Following the acquisition, the chief executive officer now owns 15,400 shares in the company, valued at approximately $137,368. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder John N. Kapoor Trust Dated Sept acquired 17,500 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average cost of $8.93 per share, for a total transaction of $156,275.00. Following the completion of the acquisition, the insider now owns 31,982 shares in the company, valued at approximately $285,599.26. The disclosure for this purchase can be found here. Company insiders own 67.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its position in Insys Therapeutics by 0.5% during the 2nd quarter. Wells Fargo & Company MN now owns 27,667 shares of the specialty pharmaceutical company’s stock worth $350,000 after acquiring an additional 126 shares during the last quarter. Eqis Capital Management Inc. grew its position in Insys Therapeutics by 0.6% during the 2nd quarter. Eqis Capital Management Inc. now owns 66,121 shares of the specialty pharmaceutical company’s stock worth $836,000 after acquiring an additional 404 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Insys Therapeutics by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 79,943 shares of the specialty pharmaceutical company’s stock worth $1,012,000 after acquiring an additional 475 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Insys Therapeutics by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,576 shares of the specialty pharmaceutical company’s stock worth $274,000 after acquiring an additional 938 shares during the last quarter. Finally, American International Group Inc. grew its position in Insys Therapeutics by 7.1% during the 1st quarter. American International Group Inc. now owns 14,462 shares of the specialty pharmaceutical company’s stock worth $152,000 after acquiring an additional 953 shares during the last quarter. Institutional investors and hedge funds own 25.48% of the company’s stock.

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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