Zacks Investment Research Lowers Insys Therapeutics Inc. (INSY) to Sell
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. “
A number of other research firms have also recently commented on INSY. Piper Jaffray Cos. reaffirmed an overweight rating and issued a $28.00 target price on shares of Insys Therapeutics in a research report on Wednesday, July 6th. Jefferies Group reaffirmed a buy rating and issued a $22.00 target price (up previously from $17.00) on shares of Insys Therapeutics in a research report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $24.67.
Shares of Insys Therapeutics (NASDAQ:INSY) opened at 13.57 on Thursday. The firm has a market capitalization of $971.54 million, a PE ratio of 20.44 and a beta of 1.93. The company’s 50 day moving average price is $15.87 and its 200-day moving average price is $15.36. Insys Therapeutics has a 52 week low of $11.45 and a 52 week high of $34.11.
Insys Therapeutics (NASDAQ:INSY) last posted its earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.01. Insys Therapeutics had a net margin of 16.03% and a return on equity of 20.08%. The company earned $67.10 million during the quarter, compared to analyst estimates of $66.90 million. During the same period in the previous year, the company earned $0.21 EPS. The company’s quarterly revenue was down 13.6% compared to the same quarter last year. On average, equities research analysts expect that Insys Therapeutics will post $0.39 EPS for the current fiscal year.
In other Insys Therapeutics news, VP Daniel Brennan sold 5,781 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $19.16, for a total value of $110,763.96. Following the transaction, the vice president now directly owns 1 shares in the company, valued at $19.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Theodore H. Stanley sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $18.02, for a total transaction of $270,300.00. Following the completion of the transaction, the director now owns 17,000 shares in the company, valued at $306,340. The disclosure for this sale can be found here. 69.20% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Scopia Capital Management LP raised its position in shares of Insys Therapeutics by 53.0% in the first quarter. Scopia Capital Management LP now owns 8,912,072 shares of the specialty pharmaceutical company’s stock valued at $142,504,000 after buying an additional 3,087,987 shares in the last quarter. Credit Agricole S A raised its position in shares of Insys Therapeutics by 688.0% in the first quarter. Credit Agricole S A now owns 192,000 shares of the specialty pharmaceutical company’s stock valued at $3,070,000 after buying an additional 167,634 shares in the last quarter. Bellevue Group AG bought a new position in shares of Insys Therapeutics during the first quarter valued at approximately $4,493,000. Freshford Capital Management LLC bought a new position in shares of Insys Therapeutics during the second quarter valued at approximately $6,159,000. Finally, Legal & General Group Plc raised its position in shares of Insys Therapeutics by 16.3% in the first quarter. Legal & General Group Plc now owns 6,247 shares of the specialty pharmaceutical company’s stock valued at $100,000 after buying an additional 876 shares in the last quarter. Institutional investors own 47.37% of the company’s stock.
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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