Insys Therapeutics Inc (INSY) Receives Average Rating of “Hold” from Analysts
Insys Therapeutics Inc (NASDAQ:INSY) has earned an average recommendation of “Hold” from the seven analysts that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $7.67.
Several equities analysts have recently weighed in on the company. ValuEngine upgraded Insys Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 1st. Zacks Investment Research upgraded Insys Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, October 11th. Royal Bank of Canada restated a “buy” rating and issued a $9.00 target price on shares of Insys Therapeutics in a research 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 reaffirmed a “buy” rating and issued a $10.00 price target on shares of Insys Therapeutics in a report on Friday, August 10th.
Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in shares of 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 purchasing an additional 19,273 shares during the last quarter. Creative Planning acquired a new stake in shares of Insys Therapeutics in the third quarter valued at approximately $153,000. BNP Paribas Arbitrage SA increased its holdings in shares of Insys Therapeutics by 47.4% in the second quarter. BNP Paribas Arbitrage SA now owns 31,105 shares of the specialty pharmaceutical company’s stock valued at $225,000 after purchasing an additional 10,001 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Insys Therapeutics in the second quarter valued at approximately $1,232,000. Finally, BlackRock Inc. increased its holdings in shares of Insys Therapeutics by 7.9% in the second quarter. BlackRock Inc. now owns 2,637,505 shares of the specialty pharmaceutical company’s stock valued at $19,096,000 after purchasing an additional 193,740 shares during the last quarter. 18.45% of the stock is owned by hedge funds and other institutional investors.
Insys Therapeutics (NASDAQ:INSY) last released its earnings results on Monday, November 5th. The specialty pharmaceutical company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.08). The firm had revenue of $18.30 million during the quarter, compared to analysts’ expectations of $24.05 million. Insys Therapeutics had a negative net margin of 128.88% and a negative return on equity of 266.60%. The business’s revenue was down 40.4% compared to the same quarter last year. During the same quarter last year, the business earned ($2.30) EPS. As a group, sell-side analysts expect that Insys Therapeutics will post -1.32 EPS for the current year.
About Insys Therapeutics
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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