BidaskClub cut shares of Insys Therapeutics, Inc. (NASDAQ:INSY) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

A number of other equities analysts have also recently issued reports on the company. Royal Bank Of Canada set a $16.00 price objective on Insys Therapeutics and gave the stock a buy rating in a report on Monday, March 27th. Zacks Investment Research cut Insys Therapeutics from a hold rating to a sell rating in a report on Tuesday, April 11th. Jefferies Group LLC dropped their target price on Insys Therapeutics from $16.00 to $14.00 and set a buy rating for the company in a report on Tuesday, April 4th. Piper Jaffray Companies cut Insys Therapeutics from an overweight rating to a neutral rating and dropped their target price for the company from $20.00 to $10.00 in a report on Wednesday, May 10th. Finally, Oppenheimer Holdings, Inc. restated a hold rating on shares of Insys Therapeutics in a report on Thursday, April 6th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $13.75.

Insys Therapeutics (INSY) traded down 0.70% during trading on Tuesday, reaching $11.39. The company’s stock had a trading volume of 414,512 shares. The company’s market cap is $821.50 million. Insys Therapeutics has a 52-week low of $8.70 and a 52-week high of $19.96. The stock has a 50-day moving average price of $12.34 and a 200 day moving average price of $11.45.

Insys Therapeutics (NASDAQ:INSY) last posted its quarterly earnings data on Tuesday, May 9th. The specialty pharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Insys Therapeutics had a negative return on equity of 0.97% and a negative net margin of 2.64%. The firm had revenue of $35.92 million during the quarter, compared to analysts’ expectations of $37.78 million. During the same period in the prior year, the business earned $0.11 EPS. The company’s revenue for the quarter was down 40.5% compared to the same quarter last year. On average, analysts expect that Insys Therapeutics will post ($0.47) EPS for the current year.

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In related news, Director Rohit Vishnoi bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was bought at an average cost of $14.14 per share, for a total transaction of $56,560.00. Following the acquisition, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $56,560. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Saeed Motahari bought 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were bought at an average price of $11.98 per share, with a total value of $53,910.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,500 shares in the company, valued at $53,910. The disclosure for this purchase can be found here. Insiders have purchased a total of 21,900 shares of company stock valued at $268,090 over the last 90 days. 67.90% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of INSY. American International Group Inc. boosted its stake 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 in the last quarter. UBS Asset Management Americas Inc. acquired a new position in Insys Therapeutics during the first quarter worth approximately $172,000. Janney Montgomery Scott LLC acquired a new position in Insys Therapeutics during the first quarter worth approximately $188,000. Bank of Montreal Can raised its position in Insys Therapeutics by 215.3% in the first quarter. Bank of Montreal Can now owns 20,812 shares of the specialty pharmaceutical company’s stock worth $219,000 after buying an additional 14,212 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in Insys Therapeutics by 34.5% in the first quarter. Parametric Portfolio Associates LLC now owns 25,712 shares of the specialty pharmaceutical company’s stock worth $270,000 after buying an additional 6,600 shares during the last quarter. Institutional investors own 28.18% 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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