Published On: Fri, Sep 16th, 2016

Insys Therapeutics Inc. (INSY) Rating Lowered to Sell at Zacks Investment Research

Insys Therapeutics Inc. (NASDAQ:INSY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report 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 topic of several other research reports. Piper Jaffray Cos. restated an “overweight” rating and set a $28.00 target price on shares of Insys Therapeutics in a research note on Thursday, August 25th. Jefferies Group restated a “buy” rating and set a $22.00 target price (up previously from $17.00) on shares of Insys Therapeutics in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Insys Therapeutics presently has an average rating of “Buy” and an average target price of $24.67.

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Shares of Insys Therapeutics (NASDAQ:INSY) traded down 0.37% during mid-day trading on Thursday, reaching $13.46. 708,907 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $15.99 and its 200-day moving average price is $15.45. The stock has a market cap of $963.67 million, a price-to-earnings ratio of 20.27 and a beta of 1.93. Insys Therapeutics has a 12-month low of $11.45 and a 12-month high of $37.19.
Insys Therapeutics (NASDAQ:INSY) last announced its quarterly earnings data on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.01. Insys Therapeutics had a net margin of 16.03% and a return on equity of 20.08%. The firm had revenue of $67.10 million for the quarter, compared to analysts’ expectations of $66.90 million. During the same period last year, the company posted $0.21 earnings per share. The business’s revenue for the quarter was down 13.6% compared to the same quarter last year. Equities research analysts forecast that Insys Therapeutics will post $0.40 earnings per share for the current year.
In other Insys Therapeutics news, major shareholder John N. Kapoor Trust Dated Sept acquired 5,700 shares of the stock in a transaction dated Friday, August 12th. The shares were purchased at an average price of $18.57 per share, for a total transaction of $105,849.00. Following the purchase, the insider now directly owns 31,982 shares of the company’s stock, valued at $593,905.74. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Patrick Fourteau sold 15,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $18.46, for a total transaction 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 disclosure for this sale can be found here. 69.20% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Legal & General Group Plc boosted 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 valued at $100,000 after buying an additional 876 shares during the period. Parametric Portfolio Associates LLC boosted its stake in 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 during the last quarter. Acrospire Investment Management LLC boosted its stake in 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 during the last quarter. Clinton Group Inc. purchased a new stake in Insys Therapeutics during the second quarter worth approximately $225,000. Finally, AHL Partners LLP purchased a new stake in Insys Therapeutics during the second quarter worth approximately $286,000. Hedge funds and other institutional investors 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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