Brokerages Set Insys Therapeutics Inc (INSY) Price Target at $7.67
Insys Therapeutics Inc (NASDAQ:INSY) has received an average recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $7.67.
Several equities analysts have weighed in on the company. Zacks Investment Research cut Insys Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. ValuEngine raised Insys Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Piper Jaffray Companies set a $4.00 price objective on Insys Therapeutics and gave the company a “sell” rating in a report on Saturday, August 11th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Insys Therapeutics in a report on Friday, August 10th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $9.00 price target on shares of Insys Therapeutics in a research note on Thursday, August 9th.
NASDAQ INSY traded up $0.59 during midday trading on Friday, hitting $8.69. The company had a trading volume of 31,805 shares, compared to its average volume of 1,335,007. The stock has a market capitalization of $614.01 million, a PE ratio of -16.55 and a beta of 1.73. Insys Therapeutics has a twelve month low of $4.10 and a twelve month high of $14.00.
Several institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC bought a new stake in Insys Therapeutics during the 2nd quarter worth $1,232,000. Tower Research Capital LLC TRC bought a new stake in Insys Therapeutics during the 2nd quarter worth $131,000. BlackRock Inc. grew its position in Insys Therapeutics by 7.9% during the 2nd quarter. BlackRock Inc. now owns 2,637,505 shares of the specialty pharmaceutical company’s stock worth $19,096,000 after acquiring an additional 193,740 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Insys Therapeutics by 33.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 126,335 shares of the specialty pharmaceutical company’s stock worth $915,000 after acquiring an additional 31,840 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in Insys Therapeutics by 47.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 31,105 shares of the specialty pharmaceutical company’s stock worth $225,000 after acquiring an additional 10,001 shares during the last quarter. Institutional investors own 18.13% of the company’s stock.
Insys Therapeutics Company Profile
Insys Therapeutics, Inc, a specialty pharmaceutical company, develops and commercializes supportive care products. The company markets SUBSYS, a sublingual fentanyl spray for breakthrough cancer pain in opioid-tolerant adult patients; and SYNDROS, an orally administered liquid formulation of dronabinol for the treatment of chemotherapy-induced nausea and vomiting, and anorexia associated with weight loss in patients with AIDS.
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