Insys Therapeutics, Inc. (NASDAQ:INSY) Receives $13.33 Consensus Price Target from Analysts
Shares of Insys Therapeutics, Inc. (NASDAQ:INSY) have earned an average rating of “Hold” from the six ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $12.67.
INSY has been the topic of several research reports. Zacks Investment Research upgraded shares of Insys Therapeutics from a “sell” rating to a “strong-buy” rating and set a $15.00 price target on the stock in a research report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and set a $16.00 price target on shares of Insys Therapeutics in a research report on Friday, April 28th. Piper Jaffray Companies downgraded shares of Insys Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $20.00 to $10.00 in a research report on Wednesday, May 10th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Insys Therapeutics in a research report on Tuesday, July 4th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $14.00 price target on shares of Insys Therapeutics in a research report on Friday, June 9th.
In other Insys Therapeutics news, CEO Saeed Motahari bought 5,400 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were bought at an average cost of $11.10 per share, for a total transaction of $59,940.00. Following the transaction, the chief executive officer now owns 9,900 shares in the company, valued at approximately $109,890. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rohit Vishnoi purchased 4,000 shares of the stock in a transaction dated Thursday, June 1st. The stock was bought at an average cost of $14.14 per share, with a total value of $56,560.00. Following the completion of the purchase, the director now owns 4,000 shares in the company, valued at $56,560. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 21,900 shares of company stock worth $268,090. Corporate insiders own 67.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in INSY. Alliancebernstein L.P. boosted its stake in shares of Insys Therapeutics by 18.0% in the first quarter. Alliancebernstein L.P. now owns 61,620 shares of the specialty pharmaceutical company’s stock worth $648,000 after buying an additional 9,400 shares during the period. American International Group Inc. boosted its stake in shares of Insys Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 14,462 shares of the specialty pharmaceutical company’s stock worth $152,000 after buying an additional 953 shares during the period. Schroder Investment Management Group boosted its stake in shares of Insys Therapeutics by 36.2% in the first quarter. Schroder Investment Management Group now owns 76,894 shares of the specialty pharmaceutical company’s stock worth $845,000 after buying an additional 20,439 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Insys Therapeutics by 37.9% in the first quarter. JPMorgan Chase & Co. now owns 45,694 shares of the specialty pharmaceutical company’s stock worth $480,000 after buying an additional 12,561 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Insys Therapeutics by 34.5% in the first quarter. Parametric Portfolio Associates LLC now owns 25,712 shares of the specialty pharmaceutical company’s stock worth $270,000 after buying an additional 6,600 shares during the period. 28.15% of the stock is owned by institutional investors.
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Insys Therapeutics (NASDAQ INSY) opened at 9.07 on Monday. The company has a 50 day moving average price of $12.09 and a 200 day moving average price of $11.45. The firm’s market capitalization is $654.17 million. Insys Therapeutics has a 52-week low of $8.70 and a 52-week high of $18.80.
Insys Therapeutics (NASDAQ:INSY) last issued its quarterly earnings results on Thursday, August 3rd. The specialty pharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.12. The business had revenue of $42.60 million for the quarter, compared to the consensus estimate of $36.90 million. Insys Therapeutics had a negative net margin of 9.63% and a negative return on equity of 3.02%. The firm’s quarterly revenue was down 38.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 EPS. On average, equities analysts forecast that Insys Therapeutics will post ($0.29) EPS for the current fiscal year.
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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