Insys Therapeutics, Inc. (INSY) Upgraded to “Buy” at Zacks Investment Research

Insys Therapeutics, Inc. (NASDAQ:INSY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, October 24th. The brokerage currently has a $8.50 price objective on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 64.73% from the company’s current price.

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. “

Other research analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Insys Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. TheStreet cut shares of Insys Therapeutics from a “c-” rating to a “d+” rating in a research report on Monday, August 21st. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Insys Therapeutics in a research report on Thursday, August 3rd. Piper Jaffray Companies set a $10.00 price target on shares of Insys Therapeutics and gave the company a “hold” rating in a research report on Wednesday, July 26th. Finally, 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, August 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $9.38.

Shares of Insys Therapeutics (NASDAQ INSY) opened at $5.16 on Tuesday. Insys Therapeutics has a 52-week low of $4.10 and a 52-week high of $15.02.

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A number of institutional investors and hedge funds have recently bought and sold shares of INSY. Dynamic Technology Lab Private Ltd bought a new position in Insys Therapeutics in the third quarter worth $119,000. SG Americas Securities LLC bought a new position in shares of Insys Therapeutics during the second quarter valued at $138,000. Voya Investment Management LLC bought a new position in shares of Insys Therapeutics during the second quarter valued at $149,000. American International Group Inc. increased its holdings in shares of Insys Therapeutics by 7.1% during the first quarter. American International Group Inc. now owns 14,462 shares of the specialty pharmaceutical company’s stock valued at $152,000 after acquiring an additional 953 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Insys Therapeutics by 213.2% during the second quarter. BNP Paribas Arbitrage SA now owns 13,133 shares of the specialty pharmaceutical company’s stock valued at $166,000 after acquiring an additional 8,940 shares in the last quarter. Institutional investors and hedge funds own 25.42% of the company’s stock.

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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