Insys Therapeutics Inc. (INSY) Upgraded by Zacks Investment Research to “Hold”
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. “
A number of other analysts also recently issued reports on the stock. Jefferies Group reiterated a buy rating and issued a $18.00 price objective (down from $22.00) on shares of Insys Therapeutics in a report on Monday, October 10th. RBC Capital Markets reiterated an outperform rating and issued a $26.00 price objective (down from $32.00) on shares of Insys Therapeutics in a report on Friday, September 23rd. Royal Bank Of Canada lowered their price objective on shares of Insys Therapeutics from $32.00 to $26.00 and set an outperform rating on the stock in a report on Thursday, September 22nd. Finally, Piper Jaffray Cos. reiterated an overweight rating and issued a $28.00 price objective on shares of Insys Therapeutics in a report on Thursday, August 25th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $23.43.
Shares of Insys Therapeutics (NASDAQ:INSY) opened at 11.26 on Tuesday. Insys Therapeutics has a one year low of $10.59 and a one year high of $33.88. The company has a market capitalization of $806.16 million, a P/E ratio of 16.96 and a beta of 1.49. The firm has a 50-day moving average of $13.11 and a 200-day moving average of $14.63.
Insys Therapeutics (NASDAQ:INSY) last posted its quarterly earnings data on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.01. Insys Therapeutics had a net margin of 16.03% and a return on equity of 20.08%. The business earned $67.10 million during the quarter, compared to analyst estimates of $66.90 million. During the same quarter last year, the business earned $0.21 earnings per share. Insys Therapeutics’s revenue for the quarter was down 13.6% on a year-over-year basis. Equities research analysts expect that Insys Therapeutics will post $0.35 EPS for the current fiscal year.
In other Insys Therapeutics news, VP Daniel Brennan sold 5,781 shares of the company’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $19.16, for a total value of $110,763.96. Following the transaction, the vice president now directly owns 1 shares in the company, valued at $19.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Theodore H. Stanley sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $18.02, for a total transaction of $270,300.00. Following the completion of the transaction, the director now owns 17,000 shares in the company, valued at $306,340. The disclosure for this sale can be found here. Corporate insiders own 69.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Freshford Capital Management LLC bought a new position in Insys Therapeutics during the second quarter valued at approximately $6,159,000. American Century Companies Inc. increased its position in Insys Therapeutics by 1.9% in the second quarter. American Century Companies Inc. now owns 281,966 shares of the specialty pharmaceutical company’s stock valued at $3,649,000 after buying an additional 5,154 shares in the last quarter. AHL Partners LLP bought a new position in Insys Therapeutics during the second quarter valued at approximately $286,000. Folger Hill Asset Management LP increased its position in Insys Therapeutics by 11.4% in the second quarter. Folger Hill Asset Management LP now owns 1,597,945 shares of the specialty pharmaceutical company’s stock valued at $20,677,000 after buying an additional 163,107 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in Insys Therapeutics by 18.1% in the second quarter. Parametric Portfolio Associates LLC now owns 15,197 shares of the specialty pharmaceutical company’s stock valued at $197,000 after buying an additional 2,328 shares in the last quarter. Hedge funds and other institutional investors own 47.31% 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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