Zacks Investment Research lowered shares of Insys Therapeutics (NASDAQ:INSY) from a hold rating to a sell rating in a research note published on Saturday.

According to Zacks, “Insys Therapeutics, Inc. is a commercial-stage specialty pharmaceutical company. It is engaged in the development and commercialization of pharmaceutical products that target the unmet needs of cancer patients, with an initial focus on cancer-supportive care. The company’s cancer-supportive care and cancer therapy product candidates include Fentanyl sublingual spray and Dronabinol SG capsule. Insys Therapeutics, Inc. is based in Phoenix, Arizona. “

Several other research analysts have also weighed in on INSY. Royal Bank of Canada reiterated an outperform rating and issued a $14.00 price objective on shares of Insys Therapeutics in a research report on Wednesday, October 11th. Oppenheimer restated a hold rating on shares of Insys Therapeutics in a research report on Monday, October 30th. Jefferies Group lowered their price target on Insys Therapeutics from $14.00 to $11.00 and set a buy rating for the company in a research report on Friday, November 3rd. Finally, ValuEngine upgraded Insys Therapeutics from a strong sell rating to a sell rating in a research report on Thursday, December 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $9.38.

Insys Therapeutics (NASDAQ:INSY) opened at $8.38 on Friday. The firm has a market capitalization of $614.39, a P/E ratio of -3.29 and a beta of 0.78. Insys Therapeutics has a 52-week low of $4.10 and a 52-week high of $15.02.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Voya Investment Management LLC purchased a new position in shares of Insys Therapeutics during the second quarter worth $149,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Insys Therapeutics during the third quarter worth $119,000. Royal Bank of Canada boosted its position in shares of Insys Therapeutics by 100.9% during the second quarter. Royal Bank of Canada now owns 13,695 shares of the specialty pharmaceutical company’s stock worth $173,000 after buying an additional 6,877 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Insys Therapeutics during the third quarter worth $135,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Insys Therapeutics by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 21,576 shares of the specialty pharmaceutical company’s stock worth $274,000 after buying an additional 938 shares during the period. Institutional investors and hedge funds own 25.33% of the company’s stock.

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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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