Zacks Investment Research Downgrades Insys Therapeutics Inc. (INSY) to Sell
According to Zacks, “Insys Therapeutics, Inc. is a commercial-stage specialty pharmaceutical company. It is engaged in the development and commercialization of pharmaceutical products that target the unmet needs of cancer patients, with an initial focus on cancer-supportive care. The company’s cancer-supportive care and cancer therapy product candidates include Fentanyl sublingual spray and Dronabinol SG capsule. Insys Therapeutics, Inc. is based in Phoenix, Arizona. “
A number of other research firms have also weighed in on INSY. 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. Jefferies Group reaffirmed a buy rating and set a $22.00 target price (up from $17.00) on shares of Insys Therapeutics in a research report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $24.67.
Insys Therapeutics (NASDAQ:INSY) opened at 13.75 on Thursday. The company has a market capitalization of $984.43 million, a PE ratio of 20.71 and a beta of 1.93. Insys Therapeutics has a 52-week low of $11.45 and a 52-week high of $33.88. The company has a 50-day moving average price of $15.81 and a 200 day moving average price of $15.33.
Insys Therapeutics (NASDAQ:INSY) last posted 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. Insys Therapeutics had a return on equity of 20.08% and a net margin of 16.03%. The firm earned $67.10 million during the quarter, compared to analysts’ expectations of $66.90 million. During the same period last year, the company earned $0.21 earnings per share. The business’s revenue for the quarter was down 13.6% compared to the same quarter last year. Equities research analysts anticipate that Insys Therapeutics will post $0.39 earnings per share for the current year.
In related news, Director Patrick Fourteau sold 15,000 shares of Insys Therapeutics stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $18.46, for a total transaction of $276,900.00. Following the transaction, the director now directly owns 49,682 shares of the company’s stock, valued at $917,129.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Daniel Brennan sold 5,781 shares of the firm’s stock in a transaction that occurred on 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 owns 1 shares of the company’s stock, valued at $19.16. The disclosure for this sale can be found here. Corporate insiders own 69.20% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Parametrica Management Ltd purchased a new stake in shares of Insys Therapeutics during the first quarter valued at $537,000. Pacad Investment Ltd. increased its stake in shares of Insys Therapeutics by 19.3% in the first quarter. Pacad Investment Ltd. now owns 36,150 shares of the specialty pharmaceutical company’s stock valued at $578,000 after buying an additional 5,855 shares during the period. Mckinley Capital Management LLC Delaware increased its stake in shares of Insys Therapeutics by 97.2% in the first quarter. Mckinley Capital Management LLC Delaware now owns 160,628 shares of the specialty pharmaceutical company’s stock valued at $2,568,000 after buying an additional 79,188 shares during the period. BlackRock Fund Advisors increased its stake in shares of Insys Therapeutics by 5.9% in the first quarter. BlackRock Fund Advisors now owns 1,498,868 shares of the specialty pharmaceutical company’s stock valued at $23,967,000 after buying an additional 83,040 shares during the period. Finally, Credit Agricole S A increased its stake in shares of Insys Therapeutics by 688.0% in the first quarter. Credit Agricole S A now owns 192,000 shares of the specialty pharmaceutical company’s stock valued at $3,070,000 after buying an additional 167,634 shares during the period. Institutional investors own 47.37% of the company’s stock.
About Insys Therapeutics
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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