Insys Therapeutics, Inc. (NASDAQ:INSY) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.

INSY has been the subject of a number of other research reports. Piper Jaffray Companies cut shares of Insys Therapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the company from $20.00 to $10.00 in a research note on Wednesday, May 10th. Zacks Investment Research cut shares of Insys Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank Of Canada cut their price target on shares of Insys Therapeutics from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $14.00 price target on shares of Insys Therapeutics in a research note on Friday, June 9th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Insys Therapeutics in a research note on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $13.25.

Shares of Insys Therapeutics (INSY) traded down 1.10% during midday trading on Friday, hitting $8.96. 163,019 shares of the company’s stock were exchanged. The company has a 50-day moving average of $11.98 and a 200-day moving average of $11.43. The firm’s market cap is $651.36 million. Insys Therapeutics has a 52 week low of $8.70 and a 52 week high of $18.80.

Insys Therapeutics (NASDAQ:INSY) last announced its earnings results on Thursday, August 3rd. The specialty pharmaceutical company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.12. Insys Therapeutics had a negative net margin of 9.63% and a negative return on equity of 3.02%. The business had revenue of $42.60 million during the quarter, compared to analysts’ expectations of $36.90 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. The firm’s revenue was down 38.4% on a year-over-year basis. Equities research analysts expect that Insys Therapeutics will post ($0.29) EPS for the current fiscal year.

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In other news, Director Steven J. Meyer purchased 8,000 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was purchased at an average price of $12.21 per share, for a total transaction of $97,680.00. Following the completion of the purchase, the director now directly owns 52,083 shares in the company, valued at approximately $635,933.43. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rohit Vishnoi purchased 4,000 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was purchased at an average price of $14.14 per share, with a total value of $56,560.00. Following the purchase, the director now owns 4,000 shares of the company’s stock, valued at $56,560. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 27,400 shares of company stock valued at $317,150. Corporate insiders own 67.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in INSY. SG Americas Securities LLC bought a new position in shares of Insys Therapeutics during the second quarter valued at $138,000. American International Group Inc. raised its position in shares of Insys Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 14,462 shares of the specialty pharmaceutical company’s stock valued at $152,000 after buying an additional 953 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Insys Therapeutics by 213.2% in the second quarter. BNP Paribas Arbitrage SA now owns 13,133 shares of the specialty pharmaceutical company’s stock valued at $166,000 after buying an additional 8,940 shares during the last quarter. UBS Asset Management Americas Inc. bought a new position in shares of Insys Therapeutics during the first quarter valued at $172,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Insys Therapeutics during the first quarter valued at $188,000. Hedge funds and other institutional investors own 28.15% 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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