Insys Therapeutics Inc. (INSY) Shares Down 1.9%
Insys Therapeutics Inc. (NASDAQ:INSY) fell 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 traded. The stock had previously closed at $15.70.
Several brokerages have issued reports on INSY. Zacks Investment Research upgraded shares of Insys Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, June 13th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Insys Therapeutics in a research report on Saturday, April 30th. Jefferies Group restated a “buy” rating and set a $22.00 price objective (up from $17.00) on shares of Insys Therapeutics in a research report on Thursday, August 4th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $28.00 price objective on shares of Insys Therapeutics in a research report on Wednesday, July 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $24.67.
The firm’s 50 day moving average price is $16.26 and its 200-day moving average price is $15.69. The firm has a market capitalization of $1.09 billion and a P/E ratio of 22.85.
Insys Therapeutics (NASDAQ:INSY) last posted its earnings results 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. During the same quarter in the previous year, the company earned $0.21 EPS. The company had revenue of $67.10 million for the quarter, compared to the consensus estimate of $66.90 million. Insys Therapeutics’s revenue was down 13.6% compared to the same quarter last year. Analysts predict that Insys Therapeutics Inc. will post $0.40 EPS for the current year.
In other Insys Therapeutics news, Director Theodore H. Stanley sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $18.02, for a total value of $270,300.00. Following the completion of the sale, the director now directly owns 17,000 shares of the company’s stock, valued at approximately $306,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Theodore H. Stanley sold 16,000 shares of the company’s stock in a transaction dated 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 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.
A hedge fund recently bought a new stake in Insys Therapeutics stock. Airain ltd acquired a new position in Insys Therapeutics Inc. (NASDAQ:INSY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 45,707 shares of the specialty pharmaceutical company’s stock, valued at approximately $1,309,000. Airain ltd owned 0.06% of Insys Therapeutics as of its most recent SEC filing.
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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