Zacks Investment Research upgraded shares of Insys Therapeutics (NASDAQ:INSY) from a sell rating to a hold rating in a research report report published on Saturday.
According to Zacks, “Insys Therapeutics, Inc. is a commercial-stage specialty pharmaceutical company. It is engaged in the development and commercialization of pharmaceutical products that target the unmet needs of cancer patients, with an initial focus on cancer-supportive care. The company’s cancer-supportive care and cancer therapy product candidates include Fentanyl sublingual spray and Dronabinol SG capsule. Insys Therapeutics, Inc. is based in Phoenix, Arizona. “
Several other analysts also recently commented on INSY. ValuEngine downgraded Insys Therapeutics from a sell rating to a strong sell rating in a research note on Thursday, March 1st. Cann restated an average rating on shares of Insys Therapeutics in a research note on Friday, March 2nd. Piper Jaffray Companies downgraded Insys Therapeutics from a neutral rating to an underweight rating in a research note on Friday, March 9th. Finally, Oppenheimer reiterated a hold rating on shares of Insys Therapeutics in a research note on Sunday, March 11th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Insys Therapeutics currently has an average rating of Hold and a consensus target price of $9.38.
Insys Therapeutics (NASDAQ:INSY) last issued its earnings results on Tuesday, May 8th. The specialty pharmaceutical company reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.01). The firm had revenue of $23.90 million during the quarter, compared to analyst estimates of $25.82 million. Insys Therapeutics had a negative net margin of 188.01% and a negative return on equity of 43.27%. The business’s quarterly revenue was down 33.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share. research analysts predict that Insys Therapeutics will post -0.91 EPS for the current fiscal year.
In other Insys Therapeutics news, Director Brian Tambi sold 166,504 shares of Insys Therapeutics stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $6.41, for a total transaction of $1,067,290.64. Following the completion of the transaction, the director now owns 4,000 shares in the company, valued at approximately $25,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 67.90% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in INSY. Stone Ridge Asset Management LLC acquired a new position in Insys Therapeutics during the 4th quarter valued at about $137,000. JPMorgan Chase & Co. boosted its stake in Insys Therapeutics by 303.5% during the 1st quarter. JPMorgan Chase & Co. now owns 25,624 shares of the specialty pharmaceutical company’s stock valued at $155,000 after purchasing an additional 19,273 shares during the last quarter. Virtu Financial LLC boosted its stake in Insys Therapeutics by 96.8% during the 4th quarter. Virtu Financial LLC now owns 20,061 shares of the specialty pharmaceutical company’s stock valued at $193,000 after purchasing an additional 9,866 shares during the last quarter. Raymond James & Associates boosted its stake in Insys Therapeutics by 93.5% during the 4th quarter. Raymond James & Associates now owns 31,008 shares of the specialty pharmaceutical company’s stock valued at $298,000 after purchasing an additional 14,982 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Insys Therapeutics by 116.1% during the 4th quarter. Deutsche Bank AG now owns 53,827 shares of the specialty pharmaceutical company’s stock valued at $515,000 after purchasing an additional 28,923 shares during the last quarter. Institutional investors and hedge funds own 17.78% of the company’s stock.
Insys Therapeutics Company Profile
Insys Therapeutics, Inc, a specialty pharmaceutical company, develops and commercializes supportive care products. 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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