Insys Therapeutics Inc. (INSY) Trading Down 1.9%
Shares of Insys Therapeutics Inc. (NASDAQ:INSY) dropped 1.9% during mid-day trading on Thursday . The stock traded as low as $15.30 and last traded at $15.40, with a volume of 744,110 shares changing hands. The stock had previously closed at $15.70.
INSY has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Insys Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. Jefferies Group reissued a “buy” rating and issued a $22.00 price objective (up previously from $17.00) on shares of Insys Therapeutics in a research report on Thursday, August 4th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $28.00 price objective on shares of Insys Therapeutics in a research report on Wednesday, July 6th. Finally, Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Insys Therapeutics in a research report on Saturday, April 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Insys Therapeutics has a consensus rating of “Buy” and an average price target of $24.67.
The firm has a 50 day moving average price of $16.26 and a 200-day moving average price of $15.69. The stock has a market cap of $1.07 billion and a price-to-earnings ratio of 22.56.
Insys Therapeutics (NASDAQ:INSY) last posted its quarterly earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by $0.01. The company earned $67.10 million during the quarter, compared to analyst estimates of $66.90 million. During the same quarter in the previous year, the business posted $0.21 EPS. The company’s revenue for the quarter was down 13.6% compared to the same quarter last year. Equities analysts expect that Insys Therapeutics Inc. will post $0.40 earnings per share for the current year.
In other news, VP Daniel Brennan sold 5,781 shares of the 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 sale, the vice president now directly owns 1 shares of the company’s stock, valued at approximately $19.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Theodore H. Stanley sold 16,000 shares of the stock in a transaction on Monday, June 6th. The stock was sold at an average price of $16.27, for a total value of $260,320.00. Following the sale, the director now directly owns 18,000 shares in the company, valued at $292,860. The disclosure for this sale can be found here.
Several hedge funds recently added to or reduced their stakes in INSY. 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 period. 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 period. Finally, Airain ltd acquired a new stake in Insys Therapeutics during the fourth quarter valued at $1,309,000.
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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