Insys Therapeutics Inc. (INSY) Sees Large Volume Increase
Shares of Insys Therapeutics Inc. (NASDAQ:INSY) saw strong trading volume on Wednesday . 1,078,343 shares traded hands during trading, an increase of 1% from the previous session’s volume of 1,067,349 shares.The stock last traded at $14.72 and had previously closed at $14.40.
A number of analysts have commented on the company. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Insys Therapeutics in a report on Saturday, April 30th. Jefferies Group restated a “buy” rating and issued a $23.00 target price on shares of Insys Therapeutics in a research note on Wednesday, March 23rd. Piper Jaffray Cos. restated a “buy” rating on shares of Insys Therapeutics in a research note on Monday, April 11th. Janney Montgomery Scott initiated coverage on Insys Therapeutics in a research note on Thursday, April 14th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $32.00 target price (down previously from $44.00) on shares of Insys Therapeutics in a research note on Tuesday, April 12th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $23.83.
The stock has a market capitalization of $1.05 billion and a P/E ratio of 21.29. The firm’s 50 day moving average is $14.33 and its 200 day moving average is $17.37.
Insys Therapeutics (NASDAQ:INSY) last issued its quarterly earnings results on Thursday, April 28th. The specialty pharmaceutical company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. During the same quarter in the previous year, the company posted $0.63 earnings per share. The firm had revenue of $62 million for the quarter, compared to the consensus estimate of $61.31 million. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, analysts forecast that Insys Therapeutics Inc. will post $0.37 EPS for the current fiscal year.
In related news, major shareholder John N. Kapoor Trust Dated Sept acquired 50,000 shares of the stock in a transaction on Thursday, May 12th. The stock was bought at an average cost of $12.84 per share, with a total value of $642,000.00. Following the transaction, the insider now directly owns 31,982 shares in the company, valued at $410,648.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Theodore H. Stanley sold 16,000 shares of the business’s 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 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.
Other large investors recently added to or reduced their stakes in the company. Globeflex Capital L P boosted 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 valued at $1,135,000 after buying an additional 39,600 shares during the period. California State Teachers Retirement System boosted its stake 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 valued at $1,249,000 after buying an additional 754 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Insys Therapeutics by 7.5% in the fourth quarter. ProShare Advisors LLC now owns 61,353 shares of the specialty pharmaceutical company’s stock valued at $1,757,000 after buying an additional 4,305 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of 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. Finally, Sei Investments Co. boosted its stake in shares of Insys Therapeutics by 6.6% in the fourth quarter. Sei Investments Co. now owns 78,945 shares of the specialty pharmaceutical company’s stock valued at $2,260,000 after buying an additional 4,854 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 has two marketed products: Subsys, a sublingual fentanyl spray for breakthrough cancer pain (BTCP) in opioid-tolerant patients and Dronabinol SG Capsule, a generic equivalent to Marinol (dronabinol), an approved second-line treatment of chemotherapy-induced nausea and vomiting (CINV), and anorexia associated with weight loss in patients with AIDS.