Insys Therapeutics Inc (INSY) Sees Large Growth in Short Interest

Insys Therapeutics Inc (NASDAQ:INSY) was the recipient of a large growth in short interest in December. As of December 29th, there was short interest totalling 10,941,415 shares, a growth of 7.6% from the December 15th total of 10,172,567 shares. Based on an average trading volume of 2,123,833 shares, the short-interest ratio is presently 5.2 days. Currently, 43.9% of the shares of the stock are short sold.

Insys Therapeutics (NASDAQ:INSY) opened at $9.07 on Wednesday. Insys Therapeutics has a fifty-two week low of $4.10 and a fifty-two week high of $15.02. The company has a market capitalization of $664.98, a price-to-earnings ratio of -3.56 and a beta of 0.76.

Insys Therapeutics (NASDAQ:INSY) last posted its quarterly earnings results on Thursday, November 2nd. The specialty pharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). Insys Therapeutics had a negative return on equity of 11.76% and a negative net margin of 112.56%. equities research analysts anticipate that Insys Therapeutics will post -0.63 earnings per share for the current year.

Several brokerages have weighed in on INSY. Oppenheimer reaffirmed a “hold” rating on shares of Insys Therapeutics in a report on Sunday, November 12th. ValuEngine raised Insys Therapeutics from a “strong sell” rating to a “sell” rating in a report on Thursday, December 7th. Zacks Investment Research raised Insys Therapeutics from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a report on Wednesday, October 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Insys Therapeutics in a report on Wednesday, October 11th. Finally, Jefferies Group dropped their price objective on Insys Therapeutics from $14.00 to $11.00 and set a “buy” rating for the company in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $9.38.

Several institutional investors have recently bought and sold shares of INSY. Schwab Charles Investment Management Inc. raised its holdings in shares of 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 buying an additional 475 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Insys Therapeutics by 6.1% during the 2nd quarter. Rhumbline Advisers now owns 30,970 shares of the specialty pharmaceutical company’s stock worth $392,000 after buying an additional 1,793 shares in the last quarter. State of Wisconsin Investment Board acquired a new position in shares of Insys Therapeutics during the 2nd quarter worth $240,000. SG Americas Securities LLC acquired a new position in shares of Insys Therapeutics during the 2nd quarter worth $138,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Insys Therapeutics by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 156,471 shares of the specialty pharmaceutical company’s stock worth $1,980,000 after buying an additional 1,876 shares in the last quarter. 25.60% of the stock is owned by institutional investors.

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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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