Insys Therapeutics Inc. (INSY) Stock Price Up 10.8%
Insys Therapeutics Inc. (NASDAQ:INSY) shares rose 10.8% during trading on Tuesday . The company traded as high as $17.34 and last traded at $14.92, with a volume of 6,137,170 shares trading hands. The stock had previously closed at $13.47.
INSY has been the topic of a number of research analyst reports. Janney Montgomery Scott initiated coverage on Insys Therapeutics in a report on Thursday, April 14th. They set a “buy” rating and a $22.00 price target on the stock. Zacks Investment Research raised Insys Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Wednesday, June 29th. Jefferies Group reaffirmed a “buy” rating and set a $23.00 target price on shares of Insys Therapeutics in a report on Wednesday, March 23rd. Piper Jaffray Cos. lowered their target price on Insys Therapeutics from $46.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, April 11th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $32.00 target price (down from $44.00) on shares of Insys Therapeutics in a report on Tuesday, April 12th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $23.83.
The stock has a market cap of $1.05 billion and a PE ratio of 21.29. The stock has a 50-day moving average price of $14.33 and a 200-day moving average price of $17.37.
Insys Therapeutics (NASDAQ:INSY) last announced its quarterly earnings results on Thursday, April 28th. The specialty pharmaceutical company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. During the same quarter last year, the company earned $0.63 earnings per share. The company earned $62 million during the quarter, compared to the consensus estimate of $61.31 million. The business’s revenue was down 12.4% on a year-over-year basis. On average, equities research analysts anticipate that Insys Therapeutics Inc. will post $0.37 EPS for the current year.
In other news, Director Theodore H. Stanley sold 16,000 shares of the company’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $16.27, for a total transaction of $260,320.00. Following the transaction, the director now owns 18,000 shares of the company’s stock, valued at $292,860. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder John N. Kapoor Trust Dated Sept purchased 50,000 shares of the business’s stock in a transaction dated Thursday, May 12th. The shares were purchased at an average cost of $12.84 per share, for a total transaction of $642,000.00. Following the purchase, the insider now directly owns 31,982 shares of the company’s stock, valued at $410,648.88. The disclosure for this purchase can be found here.
Several institutional investors have recently modified their holdings of the stock. Globeflex Capital L P raised its position in shares of 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 raised its position 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 period. ProShare Advisors LLC raised its position 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 period. Bank of Montreal Can raised its position 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 period. Finally, Sei Investments Co. raised its position 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 period.
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.
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