Insys Therapeutics Inc. (INSY) Stock Price Up 4.3%
Insys Therapeutics Inc. (NASDAQ:INSY) rose 4.3% during mid-day trading on Thursday . The stock traded as high as $15.99 and last traded at $15.79, with a volume of 389,598 shares changing hands. The stock had previously closed at $15.14.
INSY has been the subject of several research reports. Jefferies Group reduced their price target on Insys Therapeutics from $23.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, April 12th. Piper Jaffray Cos. reduced their price target on Insys Therapeutics from $46.00 to $28.00 and set an “overweight” rating for the company in a report on Monday, April 11th. Zacks Investment Research upgraded Insys Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, June 13th. Janney Montgomery Scott initiated coverage on Insys Therapeutics in a report on Thursday, April 14th. They set a “buy” rating and a $22.00 price target for the company. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $32.00 price target (down from $44.00) on shares of Insys Therapeutics in a report 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 a consensus rating of “Buy” and a consensus target price of $23.83.
The firm has a 50 day moving average of $14.31 and a 200-day moving average of $16.46. The company has a market capitalization of $1.14 billion and a PE ratio of 23.05.
Insys Therapeutics (NASDAQ:INSY) last announced its quarterly earnings results on Thursday, April 28th. The specialty pharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. The business earned $62 million during the quarter, compared to the consensus estimate of $61.31 million. During the same quarter last year, the company earned $0.63 earnings per share. The firm’s revenue was down 12.4% compared to the same quarter last year. Equities research analysts predict that Insys Therapeutics Inc. will post $0.36 earnings per share for the current year.
In other Insys Therapeutics news, major shareholder John N. Kapoor Trust Dated Sept purchased 50,000 shares of the stock in a transaction on Thursday, May 12th. The stock was bought at an average cost of $12.84 per share, for a total transaction of $642,000.00. Following the completion of the acquisition, the insider now directly owns 31,982 shares of the company’s stock, valued at $410,648.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Theodore H. Stanley sold 16,000 shares of the stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $16.27, for a total value of $260,320.00. Following the completion of the sale, the director now owns 18,000 shares of the company’s stock, valued at $292,860. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently bought and sold shares of the company. Airain ltd purchased a new position in Insys Therapeutics during the fourth quarter worth about $1,309,000. Globeflex Capital L P increased 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. Bank of Montreal Can increased 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. ProShare Advisors LLC increased 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, California Public Employees Retirement System increased its position in Insys Therapeutics by 178.7% in the fourth quarter. California Public Employees Retirement System now owns 97,000 shares of the specialty pharmaceutical company’s stock worth $2,777,000 after buying an additional 62,200 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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