Millennium Management LLC Purchases 256,474 Shares of Insys Therapeutics Inc (INSY)

Millennium Management LLC grew its position in shares of Insys Therapeutics Inc (NASDAQ:INSY) by 88.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 545,487 shares of the specialty pharmaceutical company’s stock after buying an additional 256,474 shares during the period. Millennium Management LLC’s holdings in Insys Therapeutics were worth $1,909,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of America Corp DE increased its position in shares of Insys Therapeutics by 25.2% in the fourth quarter. Bank of America Corp DE now owns 32,129 shares of the specialty pharmaceutical company’s stock worth $112,000 after purchasing an additional 6,462 shares during the period. Quantamental Technologies LLC bought a new position in shares of Insys Therapeutics in the fourth quarter worth $26,000. Geode Capital Management LLC increased its position in shares of Insys Therapeutics by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 320,314 shares of the specialty pharmaceutical company’s stock worth $1,121,000 after purchasing an additional 8,064 shares during the period. Bank of New York Mellon Corp increased its position in shares of Insys Therapeutics by 8.9% in the fourth quarter. Bank of New York Mellon Corp now owns 118,434 shares of the specialty pharmaceutical company’s stock worth $414,000 after purchasing an additional 9,689 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Insys Therapeutics in the third quarter worth $113,000. Institutional investors own 16.36% of the company’s stock.

A number of research analysts recently commented on INSY shares. ValuEngine upgraded Insys Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Piper Jaffray Companies set a $4.00 price target on Insys Therapeutics and gave the stock a “sell” rating in a research report on Friday, March 8th. Janney Montgomery Scott set a $11.00 price target on Insys Therapeutics and gave the stock a “buy” rating in a research report on Saturday, January 19th. Cantor Fitzgerald started coverage on Insys Therapeutics in a research report on Tuesday, January 22nd. They issued an “overweight” rating and a $4.40 price target on the stock. Finally, Royal Bank of Canada decreased their price target on Insys Therapeutics from $9.00 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $7.28.

NASDAQ:INSY opened at $4.31 on Thursday. Insys Therapeutics Inc has a twelve month low of $3.35 and a twelve month high of $11.65.

Insys Therapeutics (NASDAQ:INSY) last announced its quarterly earnings results on Thursday, March 7th. The specialty pharmaceutical company reported ($0.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.08). Insys Therapeutics had a negative net margin of 151.79% and a negative return on equity of 1,430.52%. The firm had revenue of $16.36 million for the quarter, compared to analyst estimates of $17.93 million. As a group, equities research analysts predict that Insys Therapeutics Inc will post -1.55 EPS for the current year.

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About Insys Therapeutics

Insys Therapeutics, Inc, a specialty pharmaceutical company, focuses on cannabinoids and drug delivery systems that address unmet patient needs. The company markets SUBSYS, a sublingual fentanyl spray for breakthrough cancer pain in opioid-tolerant adult patients; and SYNDROS, an orally administered liquid formulation of dronabinol for the treatment of chemotherapy-induced nausea and vomiting, and anorexia associated with weight loss in patients with AIDS.

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Institutional Ownership by Quarter for Insys Therapeutics (NASDAQ:INSY)

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