Insys Therapeutics Inc (NASDAQ:INSY) shares gapped up prior to trading on Thursday . The stock had previously closed at $10.47, but opened at $11.53. Insys Therapeutics shares last traded at $13.38, with a volume of 10564700 shares traded.

Several brokerages have recently issued reports on INSY. Zacks Investment Research raised Insys Therapeutics from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a research report on Tuesday, October 24th. Royal Bank of Canada set a $8.00 target price on Insys Therapeutics and gave the stock a “buy” rating in a research report on Friday, October 27th. ValuEngine raised Insys Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 7th. Oppenheimer reissued a “hold” rating on shares of Insys Therapeutics in a research report on Sunday, November 12th. Finally, Jefferies Group decreased their target price on Insys Therapeutics from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Insys Therapeutics has an average rating of “Hold” and a consensus price target of $9.38.

The company has a market cap of $722.90, a PE ratio of -3.87 and a beta of 0.76.

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in Insys Therapeutics during the 2nd quarter valued at approximately $138,000. Voya Investment Management LLC bought a new position in Insys Therapeutics during the 2nd quarter valued at approximately $149,000. BNP Paribas Arbitrage SA increased its position in Insys Therapeutics by 213.2% during the 2nd 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 in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Insys Therapeutics during the 3rd quarter valued at approximately $119,000. Finally, Royal Bank of Canada increased its position in Insys Therapeutics by 100.9% during the 2nd quarter. Royal Bank of Canada now owns 13,695 shares of the specialty pharmaceutical company’s stock valued at $173,000 after buying an additional 6,877 shares in the last quarter. 25.60% of the stock is owned by institutional investors.

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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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