Insys Therapeutics (NASDAQ:INSY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
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. “
INSY has been the topic of several other research reports. ValuEngine cut shares of Insys Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Piper Jaffray Companies cut shares of Insys Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Friday, March 9th. Oppenheimer reissued a “hold” rating on shares of Insys Therapeutics in a research note on Wednesday, May 9th. Finally, Cann reissued an “average” rating on shares of Insys Therapeutics in a research note on Friday, March 2nd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.38.
Shares of Insys Therapeutics opened at $8.41 on Friday, Marketbeat reports. Insys Therapeutics has a twelve month low of $4.10 and a twelve month high of $14.00. The firm has a market capitalization of $580.88 million, a P/E ratio of -17.16 and a beta of 1.09.
Insys Therapeutics (NASDAQ:INSY) last issued its quarterly earnings data on Tuesday, May 8th. The specialty pharmaceutical company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.01). Insys Therapeutics had a negative return on equity of 43.27% and a negative net margin of 188.01%. The business had revenue of $23.90 million during the quarter, compared to the consensus estimate of $25.82 million. During the same period in the prior year, the firm earned ($0.09) EPS. The business’s revenue for the quarter was down 33.4% compared to the same quarter last year. analysts forecast that Insys Therapeutics will post -0.91 EPS for the current year.
In related news, Director Brian Tambi sold 166,504 shares of the business’s stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $6.41, for a total value of $1,067,290.64. Following the transaction, the director now owns 4,000 shares in the company, valued at $25,640. The transaction was disclosed in a document filed with the SEC, which is available through this link. 67.90% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Stone Ridge Asset Management LLC acquired a new position in Insys Therapeutics in the fourth quarter valued at $137,000. Virtu Financial LLC lifted its holdings in Insys Therapeutics by 96.8% in the fourth quarter. Virtu Financial LLC now owns 20,061 shares of the specialty pharmaceutical company’s stock valued at $193,000 after buying an additional 9,866 shares during the period. 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 buying an additional 19,273 shares during the period. Raymond James & Associates lifted its holdings in Insys Therapeutics by 93.5% in the fourth quarter. Raymond James & Associates now owns 31,008 shares of the specialty pharmaceutical company’s stock valued at $298,000 after buying an additional 14,982 shares during the period. Finally, Deutsche Bank AG lifted its holdings in Insys Therapeutics by 116.1% in the fourth quarter. Deutsche Bank AG now owns 53,827 shares of the specialty pharmaceutical company’s stock valued at $515,000 after buying an additional 28,923 shares during the period. Institutional investors and hedge funds own 17.78% 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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