Insys Therapeutics (INSY) Stock Price Up 7.9%

Insys Therapeutics Inc (NASDAQ:INSY) shares rose 7.9% during mid-day trading on Thursday . The company traded as high as $6.29 and last traded at $6.28. Approximately 699,300 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 764,171 shares. The stock had previously closed at $5.82.

INSY has been the topic of a number of recent analyst reports. Zacks Investment Research cut Insys Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Jefferies Group decreased their target price on Insys Therapeutics from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $14.00 target price on shares of Insys Therapeutics in a research report on Wednesday, October 11th. TheStreet cut Insys Therapeutics from a “c-” rating to a “d+” rating in a research report on Monday, August 21st. Finally, Oppenheimer reiterated a “hold” rating on shares of Insys Therapeutics in a research report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Insys Therapeutics has an average rating of “Hold” and a consensus price target of $9.38.

Institutional investors have recently added to or reduced their stakes in the business. Schneider Capital Management Corp grew its holdings in shares of Insys Therapeutics by 100.0% during the second quarter. Schneider Capital Management Corp now owns 119,973 shares of the specialty pharmaceutical company’s stock worth $1,518,000 after purchasing an additional 60,000 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Insys Therapeutics during the second quarter worth about $612,000. Alliancebernstein L.P. grew its holdings in shares of Insys Therapeutics by 128.6% during the second quarter. Alliancebernstein L.P. now owns 140,840 shares of the specialty pharmaceutical company’s stock worth $1,782,000 after purchasing an additional 79,220 shares during the last quarter. Quantitative Investment Management LLC bought a new stake in shares of Insys Therapeutics during the second quarter worth about $879,000. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of Insys Therapeutics by 31.1% during the second quarter. Parametric Portfolio Associates LLC now owns 33,712 shares of the specialty pharmaceutical company’s stock worth $426,000 after purchasing an additional 8,000 shares during the last quarter. Hedge funds and other institutional investors own 25.62% of the company’s stock.

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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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