Insys Therapeutics Inc. (INSY) Shares Up 7.2%
Shares of Insys Therapeutics Inc. (NASDAQ:INSY) shot up 7.2% during trading on Wednesday . The company traded as high as $18.42 and last traded at $17.55, with a volume of 1,438,304 shares. The stock had previously closed at $16.37.
A number of brokerages have recently commented on INSY. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Insys Therapeutics in a research note on Saturday, April 30th. Zacks Investment Research upgraded shares of Insys Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, June 13th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $28.00 price target on shares of Insys Therapeutics in a research note on Wednesday, July 6th. Finally, Jefferies Group reiterated a “buy” rating and issued a $22.00 price target (up from $17.00) on shares of Insys Therapeutics in a research note on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Insys Therapeutics has an average rating of “Buy” and a consensus target price of $24.67.
The stock has a 50-day moving average price of $16.22 and a 200-day moving average price of $15.69. The firm has a market cap of $1.17 billion and a P/E ratio of 24.5910.
Insys Therapeutics (NASDAQ:INSY) last released its quarterly earnings data on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.01. The company had revenue of $67.10 million for the quarter, compared to the consensus estimate of $66.90 million. During the same period in the previous year, the business posted $0.21 earnings per share. Insys Therapeutics’s revenue for the quarter was down 13.6% compared to the same quarter last year. On average, analysts expect that Insys Therapeutics Inc. will post $0.40 EPS for the current year.
In other Insys Therapeutics news, VP Daniel Brennan sold 5,781 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $19.16, for a total transaction of $110,763.96. Following the completion of the sale, the vice president now directly owns 1 shares of the company’s stock, valued at $19.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Theodore H. Stanley sold 16,000 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $16.27, for a total transaction of $260,320.00. Following the sale, the director now directly owns 18,000 shares of the company’s stock, valued at $292,860. The disclosure for this sale can be found here.
Several hedge funds have recently added to or reduced their stakes in the stock. 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 valued at $1,909,000 after buying an additional 5,733 shares during the last quarter. Airain ltd purchased a new stake in Insys Therapeutics during the fourth quarter valued at 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 valued at $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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