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.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/15/insys-therapeutics-inc-insy-rating-lowered-to-sell-at-zacks-investment-research.html
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.
Receive News & Ratings for Insys Therapeutics Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Insys Therapeutics Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.