Published On: Thu, Sep 8th, 2016

Insys Therapeutics Inc. (INSY) Shares Down 2.4%

Insys Therapeutics Inc. (NASDAQ:INSY) shares fell 2.4% during trading on Wednesday . The company traded as low as $14.50 and last traded at $14.57, with a volume of 244,513 shares changing hands. The stock had previously closed at $14.93.
A number of brokerages have commented on INSY. Zacks Investment Research raised Insys Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, June 13th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of Insys Therapeutics in a report on Thursday, August 25th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $22.00 price objective (up from $17.00) on shares of Insys Therapeutics in a report on Thursday, August 4th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Insys Therapeutics presently has a consensus rating of “Buy” and an average target price of $24.67.
The stock has a 50 day moving average of $16.21 and a 200-day moving average of $15.56. The company has a market cap of $1.12 billion and a P/E ratio of 23.66.

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Insys Therapeutics (NASDAQ:INSY) last issued its quarterly earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.01. The company earned $67.10 million during the quarter, compared to analyst estimates of $66.90 million. The company’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS. On average, equities research analysts anticipate that Insys Therapeutics Inc. will post $0.40 earnings per share for the current year.
In related news, VP Daniel Brennan sold 5,781 shares of Insys Therapeutics stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $19.16, for a total transaction of $110,763.96. Following the sale, the vice president now directly owns 1 shares in the company, valued at $19.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder John N. Kapoor Trust Dated Sept purchased 5,700 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The shares were acquired at an average price of $18.57 per share, for a total transaction of $105,849.00. Following the completion of the acquisition, the insider now directly owns 31,982 shares of the company’s stock, valued at approximately $593,905.74. The disclosure for this purchase can be found here. Corporate insiders own 69.20% of the company’s stock.
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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