Insys Therapeutics Inc. (INSY) Trading Down 2.2%
Insys Therapeutics Inc. (NASDAQ:INSY)’s share price was down 2.2% on Thursday . The company traded as low as $17.69 and last traded at $18.35, with a volume of 613,762 shares. The stock had previously closed at $18.77.
A number of research firms have weighed in on INSY. Zacks Investment Research upgraded Insys Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Wednesday, June 29th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $28.00 target price on shares of Insys Therapeutics in a research note on Wednesday, July 6th. Jefferies Group reiterated a “buy” rating and set a $22.00 target price (up from $17.00) on shares of Insys Therapeutics in a research note on Thursday, August 4th. Finally, Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Insys Therapeutics in a research note on Saturday, April 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $24.67.
The stock has a market cap of $1.32 billion and a PE ratio of 27.67. The stock has a 50-day moving average of $15.47 and a 200 day moving average of $15.75.
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 the Zacks’ consensus estimate of $0.07 by $0.01. The firm earned $67.10 million during the quarter, compared to the consensus estimate of $66.90 million. Insys Therapeutics’s quarterly revenue was down 13.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 earnings per share. On average, equities analysts predict that Insys Therapeutics Inc. will post $0.40 EPS for the current fiscal year.
In related news, Director Patrick Fourteau sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $18.46, for a total value of $276,900.00. Following the transaction, the director now directly owns 49,682 shares of the company’s stock, valued at approximately $917,129.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Theodore H. Stanley sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $16.27, for a total value of $260,320.00. Following the completion of the transaction, 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 and institutional investors recently modified their holdings of INSY. California State Teachers Retirement System increased 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 worth $1,249,000 after buying an additional 754 shares during the last quarter. Airain ltd bought a new position in shares of Insys Therapeutics during the fourth quarter worth $1,309,000. Bank of Montreal Can increased 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 worth $1,909,000 after buying an additional 5,733 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of 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 worth $2,777,000 after buying an additional 62,200 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’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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