Bowling Portfolio Management LLC Sells 46,755 Shares of Insys Therapeutics, Inc. (NASDAQ:INSY)
Bowling Portfolio Management LLC reduced its position in Insys Therapeutics, Inc. (NASDAQ:INSY) by 75.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,612 shares of the specialty pharmaceutical company’s stock after selling 46,755 shares during the period. Bowling Portfolio Management LLC’s holdings in Insys Therapeutics were worth $197,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. American International Group Inc. increased its position in Insys Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 14,462 shares of the specialty pharmaceutical company’s stock worth $152,000 after buying an additional 953 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in Insys Therapeutics during the first quarter worth about $172,000. Janney Montgomery Scott LLC acquired a new position in Insys Therapeutics during the first quarter worth about $188,000. Bank of Montreal Can increased its position in Insys Therapeutics by 215.3% in the first quarter. Bank of Montreal Can now owns 20,812 shares of the specialty pharmaceutical company’s stock worth $219,000 after buying an additional 14,212 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in Insys Therapeutics by 34.5% in the first quarter. Parametric Portfolio Associates LLC now owns 25,712 shares of the specialty pharmaceutical company’s stock worth $270,000 after buying an additional 6,600 shares during the last quarter. Institutional investors own 28.15% of the company’s stock.
Shares of Insys Therapeutics, Inc. (INSY) opened at 10.00 on Monday. The company has a 50-day moving average of $12.35 and a 200 day moving average of $11.49. The company’s market capitalization is $721.25 million. Insys Therapeutics, Inc. has a 12 month low of $8.70 and a 12 month high of $19.96.
Insys Therapeutics (NASDAQ:INSY) last issued its earnings results on Thursday, August 3rd. The specialty pharmaceutical company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.12. Insys Therapeutics had a negative net margin of 9.63% and a negative return on equity of 3.01%. The company had revenue of $42.60 million for the quarter, compared to the consensus estimate of $36.90 million. During the same quarter in the previous year, the company earned $0.13 EPS. The firm’s revenue for the quarter was down 38.4% compared to the same quarter last year. Analysts forecast that Insys Therapeutics, Inc. will post ($0.47) EPS for the current year.
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A number of research analysts have recently issued reports on the stock. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Insys Therapeutics in a research report on Thursday. BidaskClub downgraded shares of Insys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Royal Bank Of Canada reduced their price target on shares of Insys Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday. Piper Jaffray Companies set a $10.00 price target on shares of Insys Therapeutics and gave the stock a “hold” rating in a research report on Wednesday, July 26th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $14.00 price target on shares of Insys Therapeutics in a research report on Friday, June 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $13.25.
In other news, Director Steven J. Meyer bought 8,000 shares of Insys Therapeutics stock in a transaction dated Thursday, May 18th. The shares were bought at an average price of $12.21 per share, for a total transaction of $97,680.00. Following the purchase, the director now owns 52,083 shares of the company’s stock, valued at $635,933.43. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Saeed Motahari bought 4,500 shares of Insys Therapeutics stock in a transaction dated Tuesday, May 16th. The stock was purchased at an average price of $11.98 per share, for a total transaction of $53,910.00. Following the purchase, the chief executive officer now directly owns 4,500 shares in the company, valued at approximately $53,910. The disclosure for this purchase can be found here. Insiders bought a total of 21,900 shares of company stock worth $268,090 in the last 90 days. 67.90% of the stock is owned by corporate insiders.
Insys Therapeutics Company Profile
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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