Insys Therapeutics (NASDAQ:INSY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
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. “
INSY has been the subject of several other research reports. Jefferies Financial Group reissued a “buy” rating and issued a $10.00 price target on shares of Insys Therapeutics in a report on Friday, August 10th. Piper Jaffray Companies set a $4.00 target price on shares of Insys Therapeutics and gave the stock a “sell” rating in a report on Saturday, August 11th. Royal Bank of Canada reaffirmed a “buy” rating and set a $9.00 target price on shares of Insys Therapeutics in a report on Thursday, August 9th. Finally, ValuEngine raised shares of Insys Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, June 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.88.
Insys Therapeutics (NASDAQ:INSY) last issued its quarterly earnings results on Wednesday, August 8th. The specialty pharmaceutical company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.17). The company had revenue of $23.47 million during the quarter, compared to analysts’ expectations of $25.91 million. Insys Therapeutics had a negative return on equity of 130.43% and a negative net margin of 238.31%. Insys Therapeutics’s revenue was down 44.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. As a group, analysts expect that Insys Therapeutics will post -1.24 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new stake in shares of Insys Therapeutics during the second quarter worth $131,000. JPMorgan Chase & Co. grew its holdings in shares of Insys Therapeutics by 303.5% during the first quarter. JPMorgan Chase & Co. now owns 25,624 shares of the specialty pharmaceutical company’s stock worth $155,000 after buying an additional 19,273 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Insys Therapeutics by 47.4% during the second quarter. BNP Paribas Arbitrage SA now owns 31,105 shares of the specialty pharmaceutical company’s stock worth $225,000 after buying an additional 10,001 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Insys Therapeutics by 33.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 126,335 shares of the specialty pharmaceutical company’s stock worth $915,000 after buying an additional 31,840 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Insys Therapeutics during the second quarter worth $1,232,000. 18.12% of the stock is owned by institutional investors and hedge funds.
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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