Insys Therapeutics Inc. (NASDAQ:INSY) had its target price dropped by equities research analysts at Royal Bank Of Canada from $32.00 to $26.00 in a research note issued on Thursday. The brokerage currently has an “outperform” rating on the specialty pharmaceutical company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 107.01% from the company’s current price.
Several other equities research analysts also recently weighed in on INSY. Zacks Investment Research raised shares of Insys Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, June 13th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $28.00 target price on shares of Insys Therapeutics in a research note on Wednesday, July 6th. Finally, Jefferies Group reissued a “buy” rating and issued a $22.00 price objective (up from $17.00) on shares of Insys Therapeutics in a research report on Thursday, August 4th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Insys Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $24.00.
Insys Therapeutics (NASDAQ:INSY) opened at 12.56 on Thursday. The company’s 50 day moving average is $15.48 and its 200 day moving average is $15.26. Insys Therapeutics has a one year low of $11.45 and a one year high of $33.88. The stock has a market cap of $899.23 million, a PE ratio of 18.92 and a beta of 1.93.
Insys Therapeutics (NASDAQ:INSY) last announced its earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by $0.01. Insys Therapeutics had a return on equity of 20.08% and a net margin of 16.03%. The business had revenue of $67.10 million for the quarter, compared to analysts’ expectations of $66.90 million. During the same period in the previous year, the company earned $0.21 earnings per share. Insys Therapeutics’s quarterly revenue was down 13.6% on a year-over-year basis. On average, equities research analysts expect that Insys Therapeutics will post $0.35 EPS for the current year.
In other news, Director Patrick Fourteau sold 15,000 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $18.46, for a total value of $276,900.00. Following the completion of the transaction, the director now owns 49,682 shares in the company, valued at approximately $917,129.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Daniel Brennan sold 5,781 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $19.16, for a total transaction of $110,763.96. Following the completion of the transaction, the vice president now owns 1 shares of the company’s stock, valued at approximately $19.16. The disclosure for this sale can be found here. Company insiders own 69.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in INSY. Legal & General Group Plc increased its position in shares of Insys Therapeutics by 16.3% in the first quarter. Legal & General Group Plc now owns 6,247 shares of the specialty pharmaceutical company’s stock worth $100,000 after buying an additional 876 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Insys Therapeutics by 18.1% in the second quarter. Parametric Portfolio Associates LLC now owns 15,197 shares of the specialty pharmaceutical company’s stock worth $197,000 after buying an additional 2,328 shares in the last quarter. Acrospire Investment Management LLC increased its position in shares of Insys Therapeutics by 184.9% in the second quarter. Acrospire Investment Management LLC now owns 17,095 shares of the specialty pharmaceutical company’s stock worth $221,000 after buying an additional 11,095 shares in the last quarter. Clinton Group Inc. bought a new position in shares of Insys Therapeutics during the second quarter worth about $225,000. Finally, AHL Partners LLP bought a new position in shares of Insys Therapeutics during the second quarter worth about $286,000. Institutional investors and hedge funds own 47.37% of the company’s stock.
About Insys Therapeutics
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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