Insys Therapeutics (INSY) Expected to Announce Quarterly Sales of $26.09 Million

Equities analysts expect Insys Therapeutics (NASDAQ:INSY) to post $26.09 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Insys Therapeutics’ earnings. The lowest sales estimate is $25.00 million and the highest is $27.17 million. Insys Therapeutics reported sales of $35.96 million in the same quarter last year, which indicates a negative year-over-year growth rate of 27.4%. The company is expected to announce its next quarterly earnings report on Tuesday, May 8th.

On average, analysts expect that Insys Therapeutics will report full-year sales of $118.52 million for the current financial year, with estimates ranging from $108.40 million to $127.00 million. For the next year, analysts forecast that the company will post sales of $160.44 million per share, with estimates ranging from $157.00 million to $163.88 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Insys Therapeutics.

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Insys Therapeutics (NASDAQ:INSY) last released its quarterly earnings results on Thursday, March 8th. The specialty pharmaceutical company reported ($0.61) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.47). The firm had revenue of $31.49 million for the quarter, compared to analyst estimates of $34.00 million. Insys Therapeutics had a negative net margin of 162.07% and a negative return on equity of 24.02%. Insys Therapeutics’s revenue for the quarter was down 42.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 earnings per share.

Several brokerages have recently issued reports on INSY. ValuEngine raised shares of Insys Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, December 29th. Zacks Investment Research cut shares of Insys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. Piper Jaffray downgraded shares of Insys Therapeutics from a “neutral” rating to an “underweight” rating in a research report on Friday, March 9th. Oppenheimer reaffirmed a “hold” rating on shares of Insys Therapeutics in a research report on Sunday, March 11th. Finally, Cann restated an “average” rating on shares of Insys Therapeutics in a research note on Friday, March 2nd. Four analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $9.38.

Large investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC bought a new stake in Insys Therapeutics during the 3rd quarter worth approximately $135,000. Stone Ridge Asset Management LLC bought a new position in shares of Insys Therapeutics during the 4th quarter worth approximately $137,000. Virtu Financial LLC grew its stake in shares of Insys Therapeutics by 96.8% during the 4th quarter. Virtu Financial LLC now owns 20,061 shares of the specialty pharmaceutical company’s stock worth $193,000 after acquiring an additional 9,866 shares in the last quarter. Raymond James & Associates grew its stake in shares of Insys Therapeutics by 93.5% during the 4th quarter. Raymond James & Associates now owns 31,008 shares of the specialty pharmaceutical company’s stock worth $298,000 after acquiring an additional 14,982 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Insys Therapeutics by 50.1% during the 3rd quarter. Wells Fargo & Company MN now owns 41,516 shares of the specialty pharmaceutical company’s stock worth $368,000 after acquiring an additional 13,849 shares in the last quarter. Institutional investors and hedge funds own 24.05% of the company’s stock.

NASDAQ:INSY traded down $0.17 during mid-day trading on Monday, hitting $6.92. The stock had a trading volume of 534,119 shares, compared to its average volume of 1,245,523. The company has a market cap of $498.95, a PE ratio of -14.16 and a beta of 1.13. Insys Therapeutics has a 52 week low of $4.10 and a 52 week high of $15.02.

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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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