Piper Jaffray Companies Analysts Give Insys Therapeutics, Inc. (NASDAQ:INSY) a $10.00 Price Target
Piper Jaffray Companies set a $10.00 price target on Insys Therapeutics, Inc. (NASDAQ:INSY) in a research note released on Wednesday. The brokerage currently has a hold rating on the specialty pharmaceutical company’s stock.
A number of other brokerages also recently commented on INSY. Royal Bank Of Canada set a $16.00 price objective on Insys Therapeutics and gave the company a buy rating in a research report on Saturday, June 3rd. Zacks Investment Research upgraded Insys Therapeutics from a sell rating to a strong-buy rating and set a $15.00 price objective for the company in a research report on Wednesday, July 12th. BidaskClub upgraded Insys Therapeutics from a hold rating to a buy rating in a research report on Saturday, July 8th. Oppenheimer Holdings, Inc. reiterated a hold rating on shares of Insys Therapeutics in a research report on Tuesday, July 4th. Finally, Jefferies Group LLC reiterated a buy rating and set a $14.00 price objective on shares of Insys Therapeutics in a research report on Friday, June 9th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $13.75.
Insys Therapeutics (INSY) opened at 11.39 on Wednesday. The firm’s 50-day moving average price is $12.34 and its 200 day moving average price is $11.45. The stock’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.
Insys Therapeutics (NASDAQ:INSY) last announced its quarterly earnings data on Tuesday, May 9th. The specialty pharmaceutical company reported ($0.09) EPS for the quarter, beating 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 company had revenue of $35.92 million during the quarter, compared to the consensus estimate of $37.78 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The company’s quarterly revenue was down 40.5% compared to the same quarter last year. Equities analysts predict that Insys Therapeutics will post ($0.47) earnings per share for the current year.
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In other Insys Therapeutics news, Director Steven J. Meyer bought 8,000 shares of Insys Therapeutics stock in a transaction dated Thursday, May 18th. The stock was bought at an average price of $12.21 per share, for a total transaction of $97,680.00. Following the completion of the acquisition, the director now directly owns 52,083 shares of the company’s stock, valued at $635,933.43. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Saeed Motahari bought 5,400 shares of Insys Therapeutics stock in a transaction dated Wednesday, June 14th. The stock was acquired at an average price of $11.10 per share, with a total value of $59,940.00. Following the acquisition, the chief executive officer now directly owns 9,900 shares of the company’s stock, valued at $109,890. The disclosure for this purchase can be found here. Insiders bought 21,900 shares of company stock valued at $268,090 in the last 90 days. Corporate insiders own 67.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in INSY. American International Group Inc. raised its stake 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 buying an additional 953 shares during the last quarter. UBS Asset Management Americas Inc. bought a new position in Insys Therapeutics during the first quarter worth $172,000. Janney Montgomery Scott LLC bought a new position in Insys Therapeutics during the first quarter worth $188,000. Bank of Montreal Can increased 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 period. Finally, Parametric Portfolio Associates LLC increased 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 period. 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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