Insys Therapeutics Inc. (INSY) Stock Price Up 7.2%
Insys Therapeutics Inc. (NASDAQ:INSY) rose 7.2% during mid-day trading on Wednesday . The stock traded as high as $18.42 and last traded at $17.55, with a volume of 1,438,304 shares changing hands. The stock had previously closed at $16.37.
INSY has been the topic of several research reports. 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 research report on Wednesday, June 29th. Piper Jaffray Cos. reissued an “overweight” rating and set a $28.00 price target on shares of Insys Therapeutics in a research report on Wednesday, July 6th. Jefferies Group reissued a “buy” rating and set a $22.00 price target (up from $17.00) on shares of Insys Therapeutics in a research report on Thursday, August 4th. Finally, Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Insys Therapeutics in a research report on Saturday, April 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $24.67.
The firm has a 50 day moving average of $16.26 and a 200 day moving average of $15.69. The company has a market cap of $1.07 billion and a PE ratio of 22.56.
Insys Therapeutics (NASDAQ:INSY) last issued 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. During the same quarter last year, the firm earned $0.21 earnings per share. The company earned $67.10 million during the quarter, compared to analyst estimates of $66.90 million. The business’s quarterly revenue was down 13.6% compared to the same quarter last year. On average, equities research analysts anticipate that Insys Therapeutics Inc. will post $0.40 EPS for the current fiscal year.
In other Insys Therapeutics news, Director Theodore H. Stanley sold 16,000 shares of Insys Therapeutics stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $16.27, for a total value of $260,320.00. Following the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $292,860. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Theodore H. Stanley sold 15,000 shares of Insys Therapeutics stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $18.02, for a total value of $270,300.00. Following the completion of the transaction, the director now directly owns 17,000 shares in the company, valued at $306,340. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have modified their holdings of INSY. 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 valued at $1,909,000 after buying an additional 5,733 shares in the last quarter. Airain ltd acquired a new position in shares of Insys Therapeutics during the fourth quarter valued at approximately $1,309,000. 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 valued at $2,777,000 after buying an additional 62,200 shares in 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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