Insys Therapeutics Inc. (INSY) Shares Up 4.3%
Insys Therapeutics Inc. (NASDAQ:INSY) shot up 4.3% on Thursday . The company traded as high as $15.99 and last traded at $15.79, with a volume of 389,598 shares trading hands. The stock had previously closed at $15.14.
A number of brokerages have recently weighed in on INSY. Zacks Investment Research raised shares of Insys Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, June 13th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Insys Therapeutics in a research note on Saturday, April 30th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $46.00 target price on shares of Insys Therapeutics in a research note on Thursday, March 24th. Jefferies Group cut their target price on shares of Insys Therapeutics from $23.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, April 12th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $32.00 target price (down previously from $44.00) on shares of Insys Therapeutics in a research note on Tuesday, April 12th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $23.83.
The firm has a market capitalization of $1.12 billion and a P/E ratio of 22.57. The stock’s 50-day moving average price is $14.38 and its 200 day moving average price is $16.55.
Insys Therapeutics (NASDAQ:INSY) last announced its earnings results on Thursday, April 28th. The specialty pharmaceutical company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.04. The firm earned $62 million during the quarter, compared to analysts’ expectations of $61.31 million. The company’s revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 EPS. Equities analysts anticipate that Insys Therapeutics Inc. will post $0.36 earnings per share for the current year.
In other news, Director Theodore H. Stanley sold 16,000 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $16.27, for a total value of $260,320.00. Following the transaction, the director now directly owns 18,000 shares in the company, valued at $292,860. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder John N. Kapoor Trust Dated Sept purchased 50,000 shares of the business’s stock in a transaction dated Thursday, May 12th. The stock was bought at an average price of $12.84 per share, for a total transaction of $642,000.00. Following the completion of the acquisition, the insider now owns 31,982 shares of the company’s stock, valued at approximately $410,648.88. The disclosure for this purchase can be found here.
Several hedge funds and institutional investors recently bought and sold shares of INSY. Globeflex Capital L P boosted its position in Insys Therapeutics by 99,000.0% in the fourth quarter. Globeflex Capital L P now owns 39,640 shares of the specialty pharmaceutical company’s stock worth $1,135,000 after buying an additional 39,600 shares during the last quarter. California State Teachers Retirement System boosted its position in Insys Therapeutics by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 43,625 shares of the specialty pharmaceutical company’s stock worth $1,249,000 after buying an additional 754 shares during the last quarter. Airain ltd bought a new position in Insys Therapeutics during the fourth quarter worth approximately $1,309,000. ProShare Advisors LLC boosted its position in Insys Therapeutics by 7.5% in the fourth quarter. ProShare Advisors LLC now owns 61,353 shares of the specialty pharmaceutical company’s stock worth $1,757,000 after buying an additional 4,305 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Insys Therapeutics by 9.4% in the fourth quarter. Bank of Montreal Can now owns 66,646 shares of the specialty pharmaceutical company’s stock worth $1,909,000 after buying an additional 5,733 shares during the last quarter.
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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