Insys Therapeutics Inc (NASDAQ:INSY) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 9,722,899 shares, a decrease of 3.9% from the November 15th total of 10,113,212 shares. Currently, 39.0% of the company’s stock are short sold. Based on an average trading volume of 646,445 shares, the days-to-cover ratio is currently 15.0 days.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its stake in Insys Therapeutics by 3.4% during the 2nd quarter. State Street Corp now owns 471,514 shares of the specialty pharmaceutical company’s stock valued at $5,966,000 after buying an additional 15,570 shares during the last quarter. Northern Trust Corp raised its stake in Insys Therapeutics by 3.2% during the 2nd quarter. Northern Trust Corp now owns 314,825 shares of the specialty pharmaceutical company’s stock valued at $3,983,000 after buying an additional 9,906 shares during the last quarter. Geode Capital Management LLC raised its stake in Insys Therapeutics by 9.7% during the 1st quarter. Geode Capital Management LLC now owns 305,044 shares of the specialty pharmaceutical company’s stock valued at $3,206,000 after buying an additional 26,913 shares during the last quarter. FMR LLC raised its stake in Insys Therapeutics by 4.7% during the 2nd quarter. FMR LLC now owns 254,588 shares of the specialty pharmaceutical company’s stock valued at $3,221,000 after buying an additional 11,504 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Insys Therapeutics by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 156,471 shares of the specialty pharmaceutical company’s stock valued at $1,980,000 after buying an additional 1,876 shares during the last quarter. Institutional investors and hedge funds own 25.60% of the company’s stock.

Shares of Insys Therapeutics (NASDAQ INSY) opened at $7.20 on Thursday. Insys Therapeutics has a 12 month low of $4.10 and a 12 month high of $15.02.

INSY has been the topic of several analyst reports. Zacks Investment Research raised Insys Therapeutics from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research report on Wednesday, October 18th. Royal Bank of Canada set a $8.00 price objective on Insys Therapeutics and gave the company a “buy” rating in a research report on Friday, October 27th. Jefferies Group decreased their target price on shares of Insys Therapeutics from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Oppenheimer reiterated a “hold” rating on shares of Insys Therapeutics in a research note on Sunday, November 12th. Finally, ValuEngine upgraded shares of Insys Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $9.38.

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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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