Insys Therapeutics (NASDAQ:INSY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
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. “
Several other brokerages also recently issued reports on INSY. ValuEngine upgraded shares of Insys Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, June 15th. Piper Jaffray Companies downgraded shares of Insys Therapeutics from a “neutral” rating to an “underweight” rating in a research report on Friday, March 9th. Oppenheimer reiterated a “hold” rating on shares of Insys Therapeutics in a research report on Sunday, March 11th. Finally, Cann reiterated an “average” rating on shares of Insys Therapeutics in a research report on Friday, March 2nd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $9.38.
Shares of NASDAQ:INSY opened at $7.24 on Thursday. Insys Therapeutics has a 52 week low of $4.10 and a 52 week high of $14.00. The firm has a market capitalization of $527.73 million, a PE ratio of -14.78 and a beta of 1.09.
Insys Therapeutics (NASDAQ:INSY) last issued its earnings results on Tuesday, May 8th. The specialty pharmaceutical company reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.01). Insys Therapeutics had a negative net margin of 188.01% and a negative return on equity of 43.27%. The firm had revenue of $23.90 million during the quarter, compared to analyst estimates of $25.82 million. During the same quarter in the prior year, the firm posted ($0.09) EPS. The firm’s revenue for the quarter was down 33.4% on a year-over-year basis. sell-side analysts expect that Insys Therapeutics will post -0.91 earnings per share for the current fiscal year.
In related news, Director Brian Tambi sold 166,504 shares of the company’s stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $6.41, for a total transaction of $1,067,290.64. Following the transaction, the director now owns 4,000 shares in the company, valued at approximately $25,640. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 67.90% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Stone Ridge Asset Management LLC bought a new stake in Insys Therapeutics during the 4th quarter worth about $137,000. Virtu Financial LLC raised its holdings in Insys Therapeutics by 96.8% during 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 last quarter. JPMorgan Chase & Co. raised its holdings in Insys Therapeutics by 303.5% during the 1st quarter. JPMorgan Chase & Co. now owns 25,624 shares of the specialty pharmaceutical company’s stock worth $155,000 after purchasing an additional 19,273 shares during the last quarter. Raymond James & Associates raised its holdings in Insys Therapeutics by 93.5% during the 4th quarter. Raymond James & Associates now owns 31,008 shares of the specialty pharmaceutical company’s stock worth $298,000 after purchasing an additional 14,982 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in Insys Therapeutics by 116.1% during the 4th quarter. Deutsche Bank AG now owns 53,827 shares of the specialty pharmaceutical company’s stock worth $515,000 after purchasing an additional 28,923 shares during the last quarter. 17.78% of the stock is owned by hedge funds and other institutional investors.
About Insys Therapeutics
Insys Therapeutics, Inc, a specialty pharmaceutical company, develops and commercializes supportive care products. The company markets SUBSYS, a sublingual fentanyl spray for breakthrough cancer pain in opioid-tolerant adult patients; and SYNDROS, an orally administered liquid formulation of dronabinol for the treatment of chemotherapy-induced nausea and vomiting, and anorexia associated with weight loss in patients with AIDS.
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