Insys Therapeutics (INSY) Posts Earnings Results, Misses Expectations By $0.08 EPS

Insys Therapeutics (NASDAQ:INSY) announced its quarterly earnings data on Monday. The specialty pharmaceutical company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08), Morningstar.com reports. Insys Therapeutics had a negative return on equity of 130.43% and a negative net margin of 238.31%. The company had revenue of $18.30 million for the quarter, compared to analyst estimates of $24.05 million. During the same period last year, the firm earned ($2.30) earnings per share. The firm’s revenue for the quarter was down 40.4% on a year-over-year basis.

Shares of Insys Therapeutics stock traded down $0.99 during trading on Tuesday, reaching $7.54. 53,945 shares of the company were exchanged, compared to its average volume of 388,011. Insys Therapeutics has a twelve month low of $4.90 and a twelve month high of $14.00. The stock has a market cap of $664.49 million, a PE ratio of -15.39 and a beta of 1.67.

A number of brokerages recently commented on INSY. ValuEngine raised Insys Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. Zacks Investment Research cut Insys Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 15th. Royal Bank of Canada reaffirmed a “buy” rating and set a $9.00 price objective on shares of Insys Therapeutics in a research note on Thursday, August 9th. Piper Jaffray Companies set a $4.00 price objective on Insys Therapeutics and gave the stock a “sell” rating in a research note on Saturday, August 11th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $10.00 price objective on shares of Insys Therapeutics in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Insys Therapeutics has a consensus rating of “Hold” and an average price target of $7.67.

A number of large investors have recently bought and sold shares of INSY. Tower Research Capital LLC TRC acquired a new position in Insys Therapeutics in the second quarter valued at about $131,000. Creative Planning acquired a new position in Insys Therapeutics in the third quarter valued at about $153,000. JPMorgan Chase & Co. grew its stake 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 grew its stake in 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 acquiring an additional 10,001 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Insys Therapeutics by 35.3% in the third quarter. Wells Fargo & Company MN now owns 77,101 shares of the specialty pharmaceutical company’s stock valued at $778,000 after acquiring an additional 20,100 shares during the period. 18.04% of the stock is owned by hedge funds and other institutional investors.

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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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Earnings History for Insys Therapeutics (NASDAQ:INSY)

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