Shares of Insys Therapeutics Inc. (NASDAQ:INSY) shot up 14.3% during mid-day trading on Wednesday . The stock traded as high as $17.75 and last traded at $17.38, with a volume of 1,524,786 shares trading hands. The stock had previously closed at $15.20.

INSY has been the topic of a number of analyst reports. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Insys Therapeutics in a report on Monday, April 11th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Insys Therapeutics in a report on Saturday, April 30th. Jefferies Group cut their price objective on shares of Insys Therapeutics from $23.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, April 12th. Janney Montgomery Scott initiated coverage on shares of Insys Therapeutics in a report on Thursday, April 14th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Insys Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, June 13th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $23.83.

The company has a market cap of $1.28 billion and a P/E ratio of 25.79. The firm has a 50-day moving average price of $14.30 and a 200 day moving average price of $15.83.

Insys Therapeutics (NASDAQ:INSY) last posted its quarterly earnings data on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by $0.01. The business earned $67.10 million during the quarter, compared to analyst estimates of $66.90 million. The company’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same period last year, the business posted $0.21 EPS. On average, analysts predict that Insys Therapeutics Inc. will post $0.36 earnings per share for the current fiscal year.

In other news, Director Theodore H. Stanley sold 16,000 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $16.27, for a total transaction of $260,320.00. Following the completion of the transaction, the director now directly owns 18,000 shares in the company, valued at $292,860. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder John N. Kapoor Trust Dated Sept purchased 50,000 shares of Insys Therapeutics stock in a transaction dated Thursday, May 12th. The shares were bought at an average price of $12.84 per share, with a total value 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 disclosure for this purchase can be found here.

Other institutional investors recently modified their holdings of the company. Airain ltd bought a new position in shares of Insys Therapeutics during the fourth quarter valued at $1,309,000. Globeflex Capital L P increased its position in shares of 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 valued at $1,135,000 after buying an additional 39,600 shares during the last quarter. Bank of Montreal Can increased its position in shares of 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 valued at $1,909,000 after buying an additional 5,733 shares during the last quarter. California Public Employees Retirement System increased its position in shares of 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 valued at $2,777,000 after buying an additional 62,200 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in shares of 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 valued at $1,249,000 after buying an additional 754 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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