Royal Bank Of Canada Trims Insys Therapeutics Inc. (INSY) Target Price to $26.00
Insys Therapeutics Inc. (NASDAQ:INSY) had its target price cut by analysts at Royal Bank Of Canada from $32.00 to $26.00 in a research report issued on Thursday. The brokerage currently has an “outperform” rating on the specialty pharmaceutical company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 95.93% from the company’s current price.
Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Insys Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 9th. Piper Jaffray Cos. restated an “overweight” rating and set a $28.00 price objective on shares of Insys Therapeutics in a research note on Thursday, August 25th. Finally, Jefferies Group restated a “buy” rating and set a $22.00 price objective (up from $17.00) on shares of Insys Therapeutics in a research note on Thursday, August 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $23.67.
Shares of Insys Therapeutics (NASDAQ:INSY) opened at 13.27 on Thursday. The company’s 50 day moving average is $15.76 and its 200-day moving average is $15.32. Insys Therapeutics has a 52 week low of $11.45 and a 52 week high of $33.88. The stock has a market capitalization of $950.07 million, a PE ratio of 19.98 and a beta of 1.93.
Insys Therapeutics (NASDAQ:INSY) last issued its quarterly earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The business earned $67.10 million during the quarter, compared to the consensus estimate of $66.90 million. Insys Therapeutics had a return on equity of 20.08% and a net margin of 16.03%. The firm’s revenue was down 13.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 earnings per share. On average, equities analysts predict that Insys Therapeutics will post $0.39 earnings per share for the current year.
In other news, Director Theodore H. Stanley sold 15,000 shares of Insys Therapeutics stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $18.02, for a total value of $270,300.00. Following the completion of the sale, the director now directly owns 17,000 shares in the company, valued at $306,340. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Daniel Brennan sold 5,781 shares of Insys Therapeutics stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $19.16, for a total transaction of $110,763.96. Following the completion of the sale, the vice president now owns 1 shares of the company’s stock, valued at $19.16. The disclosure for this sale can be found here. 69.20% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Freshford Capital Management LLC bought a new stake in shares of Insys Therapeutics during the second quarter worth approximately $6,159,000. American Century Companies Inc. raised its stake in shares of Insys Therapeutics by 1.9% in the second quarter. American Century Companies Inc. now owns 281,966 shares of the specialty pharmaceutical company’s stock worth $3,649,000 after buying an additional 5,154 shares in the last quarter. AHL Partners LLP bought a new stake in shares of Insys Therapeutics during the second quarter worth approximately $286,000. Folger Hill Asset Management LP raised its stake in shares of Insys Therapeutics by 11.4% in the second quarter. Folger Hill Asset Management LP now owns 1,597,945 shares of the specialty pharmaceutical company’s stock worth $20,677,000 after buying an additional 163,107 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Insys Therapeutics by 18.1% in the second quarter. Parametric Portfolio Associates LLC now owns 15,197 shares of the specialty pharmaceutical company’s stock worth $197,000 after buying an additional 2,328 shares in the last quarter. Hedge funds and other institutional investors own 47.37% of the company’s stock.
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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