Insys Therapeutics Inc (INSY) Receives Average Rating of “Buy” from Analysts
Insys Therapeutics Inc (NASDAQ:INSY) has been given an average rating of “Buy” by the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $7.28.
Several research firms have commented on INSY. Piper Jaffray Companies set a $4.00 price target on Insys Therapeutics and gave the company a “sell” rating in a report on Friday, March 8th. ValuEngine upgraded Insys Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Royal Bank of Canada decreased their target price on Insys Therapeutics from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Friday, March 8th. Cantor Fitzgerald started coverage on Insys Therapeutics in a report on Tuesday, January 22nd. They set an “overweight” rating and a $4.40 target price for the company. Finally, Janney Montgomery Scott set a $11.00 target price on Insys Therapeutics and gave the stock a “buy” rating in a report on Saturday, January 19th.
Several large investors have recently modified their holdings of INSY. ETF Managers Group LLC purchased a new stake in shares of Insys Therapeutics during the 4th quarter worth about $5,076,000. Norges Bank purchased a new stake in shares of Insys Therapeutics during the 4th quarter worth about $2,195,000. D. E. Shaw & Co. Inc. grew its holdings in shares of Insys Therapeutics by 158.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 512,444 shares of the specialty pharmaceutical company’s stock worth $1,793,000 after purchasing an additional 314,264 shares during the period. Raging Capital Management LLC purchased a new stake in shares of Insys Therapeutics during the 4th quarter worth about $998,000. Finally, Millennium Management LLC grew its holdings in shares of Insys Therapeutics by 88.7% during the 4th quarter. Millennium Management LLC now owns 545,487 shares of the specialty pharmaceutical company’s stock worth $1,909,000 after purchasing an additional 256,474 shares during the period. Institutional investors and hedge funds own 16.36% of the company’s stock.
Insys Therapeutics (NASDAQ:INSY) last posted its quarterly earnings results on Thursday, March 7th. The specialty pharmaceutical company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.08). The business had revenue of $16.36 million during the quarter, compared to analysts’ expectations of $17.93 million. Insys Therapeutics had a negative net margin of 151.79% and a negative return on equity of 1,430.52%. As a group, equities research analysts forecast that Insys Therapeutics will post -1.55 earnings per share for the current fiscal year.
About Insys Therapeutics
Insys Therapeutics, Inc, a specialty pharmaceutical company, focuses on cannabinoids and drug delivery systems that address unmet patient needs. 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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