Insys Therapeutics (INSY) Cut to “Buy” at ValuEngine
Insys Therapeutics (NASDAQ:INSY) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.
Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded Insys Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. Royal Bank of Canada reissued a “buy” rating and issued a $9.00 price target on shares of Insys Therapeutics in a report on Thursday, August 9th. Piper Jaffray Companies set a $4.00 price target on Insys Therapeutics and gave the company a “sell” rating in a report on Saturday, August 11th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $10.00 price target on shares of Insys Therapeutics in a report on Friday, August 10th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $7.67.
Shares of NASDAQ INSY opened at $6.46 on Wednesday. The company has a market capitalization of $527.32 million, a P/E ratio of -13.18 and a beta of 1.67. Insys Therapeutics has a 52 week low of $5.04 and a 52 week high of $14.00.
A number of large investors have recently made changes to their positions in INSY. JPMorgan Chase & Co. lifted its holdings in Insys Therapeutics by 303.5% in the first quarter. JPMorgan Chase & Co. now owns 25,624 shares of the specialty pharmaceutical company’s stock valued at $155,000 after acquiring an additional 19,273 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of 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 buying an additional 10,001 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of 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 buying an additional 31,840 shares during the period. BlackRock Inc. raised its stake in shares of 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 buying an additional 193,740 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Insys Therapeutics during the 2nd quarter worth approximately $131,000. 18.45% of the stock is owned by institutional investors.
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.
Featured Story: How to Invest in Marijuana Stocks
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Insys Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insys Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.