Insys Therapeutics Inc. (INSY) Stock Price Down 2.2%
Insys Therapeutics Inc. (NASDAQ:INSY) was down 2.2% during mid-day trading on Thursday . The stock traded as low as $17.69 and last traded at $18.35, with a volume of 613,762 shares traded. The stock had previously closed at $18.77.
A number of brokerages have issued reports on INSY. Zacks Investment Research downgraded Insys Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday. Jefferies Group restated a “buy” rating and issued a $22.00 price objective (up previously from $17.00) on shares of Insys Therapeutics in a research note on Thursday, August 4th. Piper Jaffray Cos. restated an “overweight” rating and issued a $28.00 price objective on shares of Insys Therapeutics in a research note on Wednesday, July 6th. Janney Montgomery Scott began coverage on Insys Therapeutics in a research note on Thursday, April 14th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Oppenheimer Holdings Inc. restated a “hold” rating on shares of Insys Therapeutics in a research note on Saturday, April 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $24.67.
The company’s 50-day moving average price is $15.32 and its 200 day moving average price is $15.78. The stock has a market cap of $1.33 billion and a PE ratio of 27.92.
Insys Therapeutics (NASDAQ:INSY) last released its earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.01. The firm earned $67.10 million during the quarter, compared to the consensus estimate of $66.90 million. During the same period in the previous year, the firm posted $0.21 EPS. The firm’s revenue for the quarter was down 13.6% compared to the same quarter last year. Equities analysts forecast that Insys Therapeutics Inc. will post $0.40 earnings per share for the current fiscal year.
In other Insys Therapeutics news, VP Daniel Brennan sold 5,781 shares of Insys Therapeutics stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $19.16, for a total transaction of $110,763.96. Following the completion of the transaction, the vice president now owns 1 shares in the company, valued at $19.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theodore H. Stanley sold 16,000 shares of Insys Therapeutics stock in a transaction on 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 owns 18,000 shares of the company’s stock, valued at approximately $292,860. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently made changes to their positions in the company. California State Teachers Retirement System boosted 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 worth $1,249,000 after buying an additional 754 shares during the last quarter. Bank of Montreal Can raised its stake 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. Globeflex Capital L P raised its stake 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. Airain ltd acquired a new stake in Insys Therapeutics during the fourth quarter worth approximately $1,309,000. Finally, California Public Employees Retirement System raised its stake 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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