Insys Therapeutics, Inc. (INSY) Sees Large Volume Increase
Shares of Insys Therapeutics, Inc. (NASDAQ:INSY) saw an uptick in trading volume on Monday . 1,609,901 shares traded hands during trading, an increase of 201% from the previous session’s volume of 535,509 shares.The stock last traded at $9.95 and had previously closed at $8.88.
Several research analysts have recently commented on the company. BidaskClub raised Insys Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Royal Bank Of Canada lowered their target price on shares of Insys Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Zacks Investment Research downgraded shares of Insys Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Piper Jaffray Companies set a $10.00 target price on shares of Insys Therapeutics and gave the company a “hold” rating in a research report on Wednesday, July 26th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $14.00 target price on shares of Insys Therapeutics in a research report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $13.25.
The stock has a 50 day moving average of $9.45 and a 200 day moving average of $11.15. The stock’s market capitalization is $723.34 million.
Insys Therapeutics (NASDAQ:INSY) last posted its earnings results on Thursday, August 3rd. The specialty pharmaceutical company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.12. Insys Therapeutics had a negative return on equity of 3.02% and a negative net margin of 9.63%. The company had revenue of $42.60 million for the quarter, compared to the consensus estimate of $36.90 million. During the same period in the previous year, the business earned $0.13 earnings per share. The firm’s revenue for the quarter was down 38.4% on a year-over-year basis. On average, equities research analysts forecast that Insys Therapeutics, Inc. will post ($0.29) EPS for the current year.
In other Insys Therapeutics news, major shareholder John N. Kapoor Trust Dated Sept acquired 17,500 shares of the company’s stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $8.93 per share, with a total value of $156,275.00. Following the purchase, the insider now directly owns 31,982 shares of the company’s stock, valued at approximately $285,599.26. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Saeed Motahari acquired 5,500 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was acquired at an average cost of $8.92 per share, with a total value of $49,060.00. Following the completion of the purchase, the chief executive officer now directly owns 15,400 shares in the company, valued at $137,368. The disclosure for this purchase can be found here. Insiders own 67.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in shares of Insys Therapeutics by 0.5% during the 2nd quarter. Wells Fargo & Company MN now owns 27,667 shares of the specialty pharmaceutical company’s stock valued at $350,000 after buying an additional 126 shares in the last quarter. Eqis Capital Management Inc. lifted its holdings in shares of Insys Therapeutics by 0.6% in the 2nd quarter. Eqis Capital Management Inc. now owns 66,121 shares of the specialty pharmaceutical company’s stock valued at $836,000 after acquiring an additional 404 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Insys Therapeutics by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 79,943 shares of the specialty pharmaceutical company’s stock valued at $1,012,000 after acquiring an additional 475 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Insys Therapeutics by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,576 shares of the specialty pharmaceutical company’s stock valued at $274,000 after acquiring an additional 938 shares during the last quarter. Finally, American International Group Inc. grew its position in 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 worth $152,000 after acquiring an additional 953 shares in the last quarter. Hedge funds and other institutional investors own 25.45% 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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