Insys Therapeutics (NASDAQ:INSY)’s share price was up 7.8% on Tuesday . The company traded as high as $6.98 and last traded at $6.76. Approximately 1,037,737 shares were traded during trading, a decline of 18% from the average daily volume of 1,264,421 shares. The stock had previously closed at $6.27.
A number of equities analysts recently weighed in on INSY shares. Zacks Investment Research cut Insys Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. ValuEngine raised Insys Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Oppenheimer reissued a “hold” rating on shares of Insys Therapeutics in a report on Sunday, March 11th. Piper Jaffray cut Insys Therapeutics from a “neutral” rating to an “underweight” rating in a report on Friday, March 9th. Finally, Cann reissued an “average” rating on shares of Insys Therapeutics in a report on Friday, March 2nd. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Insys Therapeutics has an average rating of “Hold” and an average price target of $9.38.
The firm has a market cap of $448.49, a price-to-earnings ratio of -13.80 and a beta of 1.13.
Insys Therapeutics (NASDAQ:INSY) last announced its quarterly earnings data on Thursday, March 8th. The specialty pharmaceutical company reported ($0.61) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.47). The firm had revenue of $31.49 million for the quarter, compared to analysts’ expectations of $34.00 million. Insys Therapeutics had a negative net margin of 162.07% and a negative return on equity of 24.02%. The business’s quarterly revenue was down 42.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 earnings per share. analysts forecast that Insys Therapeutics will post -0.83 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. Stone Ridge Asset Management LLC purchased a new position in Insys Therapeutics in the 4th quarter worth approximately $137,000. Schwab Charles Investment Management Inc. increased its stake in Insys Therapeutics by 31.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 104,812 shares of the specialty pharmaceutical company’s stock worth $931,000 after purchasing an additional 24,869 shares during the period. Wells Fargo & Company MN increased its stake in Insys Therapeutics by 50.1% in the 3rd quarter. Wells Fargo & Company MN now owns 41,516 shares of the specialty pharmaceutical company’s stock worth $368,000 after purchasing an additional 13,849 shares during the period. Virtu Financial LLC increased its stake in Insys Therapeutics by 96.8% in the 4th quarter. Virtu Financial LLC now owns 20,061 shares of the specialty pharmaceutical company’s stock worth $193,000 after purchasing an additional 9,866 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in Insys Therapeutics in the 3rd quarter worth approximately $135,000. 24.05% of the stock is currently owned by institutional investors and hedge funds.
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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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