Insys Therapeutics, Inc. (INSY) Lowered to Sell at BidaskClub

Insys Therapeutics, Inc. (NASDAQ:INSY) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday, August 5th.

INSY has been the subject of several other research reports. Zacks Investment Research cut Insys Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, April 11th. Royal Bank Of Canada reiterated a “buy” rating and issued a $16.00 price objective on shares of Insys Therapeutics in a research report on Friday, April 28th. Jefferies Group LLC reiterated a “buy” rating and issued a $14.00 price objective on shares of Insys Therapeutics in a research report on Friday, June 9th. Piper Jaffray Companies cut Insys Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $20.00 to $10.00 in a research report on Wednesday, May 10th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Insys Therapeutics in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $13.25.

Insys Therapeutics (NASDAQ:INSY) traded down 1.19% during midday trading on Friday, reaching $9.17. 381,275 shares of the company were exchanged. The company’s market capitalization is $666.62 million. Insys Therapeutics has a 52-week low of $8.70 and a 52-week high of $18.42. The company has a 50 day moving average of $11.32 and a 200-day moving average of $11.40.

Insys Therapeutics (NASDAQ:INSY) last released its quarterly earnings data on Thursday, August 3rd. The specialty pharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.12. The firm had revenue of $42.60 million during the quarter, compared to analysts’ expectations of $36.90 million. Insys Therapeutics had a negative return on equity of 3.02% and a negative net margin of 9.63%. Insys Therapeutics’s revenue was down 38.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 earnings per share. On average, equities research analysts anticipate that Insys Therapeutics will post ($0.29) earnings per share for the current fiscal year.

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In related news, CEO Saeed Motahari acquired 5,400 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were acquired at an average price of $11.10 per share, with a total value of $59,940.00. Following the completion of the purchase, the chief executive officer now directly owns 9,900 shares in the company, valued at $109,890. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder John N. Kapoor Trust Dated Sept acquired 17,500 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average cost of $8.93 per share, for a total transaction of $156,275.00. Following the purchase, the insider now owns 31,982 shares of the company’s stock, valued at $285,599.26. The disclosure for this purchase can be found here. Insiders acquired 32,400 shares of company stock worth $321,835 in the last three months. 67.90% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of INSY. Wells Fargo & Company MN raised its stake in Insys Therapeutics by 0.5% in the second quarter. Wells Fargo & Company MN now owns 27,667 shares of the specialty pharmaceutical company’s stock worth $350,000 after buying an additional 126 shares during the last quarter. Eqis Capital Management Inc. raised its stake in Insys Therapeutics by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 66,121 shares of the specialty pharmaceutical company’s stock worth $836,000 after buying an additional 404 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Insys Therapeutics by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 79,943 shares of the specialty pharmaceutical company’s stock worth $1,012,000 after buying an additional 475 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Insys Therapeutics by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 21,576 shares of the specialty pharmaceutical company’s stock worth $274,000 after buying an additional 938 shares during the last quarter. Finally, American International Group Inc. raised its stake in Insys Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 14,462 shares of the specialty pharmaceutical company’s stock worth $152,000 after buying an additional 953 shares during the last quarter. 27.85% of the stock is currently owned by institutional investors and hedge funds.

Insys Therapeutics Company Profile

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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