Insys Therapeutics Inc (INSY) Receives Consensus Recommendation of “Hold” from Analysts

Insys Therapeutics Inc (NASDAQ:INSY) has received a consensus recommendation of “Hold” from the seven brokerages that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $7.67.

Several brokerages recently commented on INSY. Zacks Investment Research upgraded shares of Insys Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. ValuEngine upgraded shares of Insys Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. Jefferies Financial Group reiterated a “buy” rating and set a $10.00 price target on shares of Insys Therapeutics in a research note on Friday, August 10th. Piper Jaffray Companies set a $4.00 price target on shares of Insys Therapeutics and gave the stock a “sell” rating in a research note on Saturday, August 11th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $9.00 price target on shares of Insys Therapeutics in a research note on Thursday, August 9th.

Shares of Insys Therapeutics stock traded down $0.23 during trading on Wednesday, hitting $8.85. 466,151 shares of the stock were exchanged, compared to its average volume of 954,380. The stock has a market cap of $748.39 million, a P/E ratio of -17.98 and a beta of 1.65. Insys Therapeutics has a 12-month low of $4.10 and a 12-month high of $14.00.

Insys Therapeutics (NASDAQ:INSY) last released its quarterly earnings data on Wednesday, August 8th. The specialty pharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.17). Insys Therapeutics had a negative return on equity of 130.43% and a negative net margin of 238.31%. The firm had revenue of $23.47 million for the quarter, compared to analysts’ expectations of $25.91 million. During the same period last year, the firm posted $0.03 earnings per share. Insys Therapeutics’s revenue for the quarter was down 44.9% on a year-over-year basis. On average, sell-side analysts expect that Insys Therapeutics will post -1.24 earnings per share for the current year.

A number of large investors have recently made changes to their positions in INSY. ETF Managers Group LLC raised its stake in Insys Therapeutics by 130.2% during the 1st quarter. ETF Managers Group LLC now owns 649,898 shares of the specialty pharmaceutical company’s stock worth $3,873,000 after acquiring an additional 367,630 shares in the last quarter. BlackRock Inc. raised its stake in Insys Therapeutics by 7.9% during the 2nd quarter. BlackRock Inc. now owns 2,637,505 shares of the specialty pharmaceutical company’s stock worth $19,096,000 after acquiring an additional 193,740 shares in the last quarter. Millennium Management LLC acquired a new stake in Insys Therapeutics during the 2nd quarter worth $1,232,000. Northern Trust Corp raised its stake in Insys Therapeutics by 10.1% during the 2nd quarter. Northern Trust Corp now owns 348,334 shares of the specialty pharmaceutical company’s stock worth $2,522,000 after acquiring an additional 32,009 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Insys Therapeutics by 33.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 126,335 shares of the specialty pharmaceutical company’s stock worth $915,000 after acquiring an additional 31,840 shares in the last quarter. Hedge funds and other institutional investors own 18.12% of the company’s stock.

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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Analyst Recommendations for Insys Therapeutics (NASDAQ:INSY)

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