Insys Therapeutics, Inc. (NASDAQ:INSY) Stake Maintained by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System maintained its stake in Insys Therapeutics, Inc. (NASDAQ:INSY) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,901 shares of the specialty pharmaceutical company’s stock at the end of the first quarter. State Board of Administration of Florida Retirement System’s holdings in Insys Therapeutics were worth $188,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Insys Therapeutics during the fourth quarter worth approximately $3,408,000. Bowling Portfolio Management LLC bought a new position in shares of Insys Therapeutics during the first quarter worth about $655,000. Bank of Montreal Can increased its position in shares of Insys Therapeutics by 215.3% in the first quarter. Bank of Montreal Can now owns 20,812 shares of the specialty pharmaceutical company’s stock worth $219,000 after buying an additional 14,212 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Insys Therapeutics during the first quarter worth about $188,000. Finally, Wells Fargo & Company MN increased its position in shares of Insys Therapeutics by 30.3% in the first quarter. Wells Fargo & Company MN now owns 27,541 shares of the specialty pharmaceutical company’s stock worth $289,000 after buying an additional 6,407 shares in the last quarter. Institutional investors own 28.17% of the company’s stock.
Insys Therapeutics, Inc. (NASDAQ INSY) traded down 0.20% on Friday, reaching $10.00. 726,416 shares of the company traded hands. Insys Therapeutics, Inc. has a 52-week low of $8.70 and a 52-week high of $19.96. The stock’s market capitalization is $721.25 million. The firm has a 50 day moving average price of $12.35 and a 200 day moving average price of $11.49.
Insys Therapeutics (NASDAQ:INSY) last announced its quarterly earnings data on Thursday, August 3rd. The specialty pharmaceutical company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.12. The firm had revenue of $42.60 million during the quarter, compared to analysts’ expectations of $36.90 million. Insys Therapeutics had a negative return on equity of 0.97% and a negative net margin of 2.64%. The company’s quarterly revenue was down 38.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 EPS. Equities research analysts predict that Insys Therapeutics, Inc. will post ($0.47) EPS for the current year.
INSY has been the topic of a number of research reports. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Insys Therapeutics in a research note on Thursday, April 6th. Zacks Investment Research cut shares of Insys Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. Royal Bank Of Canada reiterated a “buy” rating and set a $16.00 price objective on shares of Insys Therapeutics in a report on Friday, April 28th. Piper Jaffray Companies lowered shares of Insys Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $20.00 to $10.00 in a report on Wednesday, May 10th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $14.00 price objective on shares of Insys Therapeutics in a report on Friday, June 9th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Insys Therapeutics has a consensus rating of “Buy” and a consensus price target of $13.25.
In other news, CEO Saeed Motahari acquired 4,500 shares of Insys Therapeutics stock in a transaction that occurred on Tuesday, May 16th. The shares were acquired at an average price of $11.98 per share, for a total transaction of $53,910.00. Following the transaction, the chief executive officer now directly owns 4,500 shares of the company’s stock, valued at approximately $53,910. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rohit Vishnoi acquired 4,000 shares of Insys Therapeutics stock in a transaction that occurred on Thursday, June 1st. The shares were purchased at an average price of $14.14 per share, for a total transaction of $56,560.00. Following the transaction, the director now directly owns 4,000 shares in the company, valued at $56,560. The disclosure for this purchase can be found here. In the last quarter, insiders bought 21,900 shares of company stock worth $268,090. Corporate insiders own 67.90% of the company’s stock.
About Insys Therapeutics
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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