Engineers Gate Manager LP bought a new stake in Insys Therapeutics Inc (NASDAQ:INSY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 96,105 shares of the specialty pharmaceutical company’s stock, valued at approximately $969,000.
Several other hedge funds also recently made changes to their positions in INSY. BNP Paribas Arbitrage SA boosted its stake in shares of Insys Therapeutics by 47.4% in the second quarter. BNP Paribas Arbitrage SA now owns 31,105 shares of the specialty pharmaceutical company’s stock valued at $225,000 after buying an additional 10,001 shares in the last quarter. Creative Planning purchased a new stake in shares of Insys Therapeutics in the third quarter valued at approximately $153,000. Tower Research Capital LLC TRC purchased a new stake in shares of Insys Therapeutics in the second quarter valued at approximately $131,000. JPMorgan Chase & Co. boosted its stake in shares of Insys Therapeutics by 303.5% in the first quarter. JPMorgan Chase & Co. now owns 25,624 shares of the specialty pharmaceutical company’s stock valued at $155,000 after buying an additional 19,273 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Insys Therapeutics by 33.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 126,335 shares of the specialty pharmaceutical company’s stock valued at $915,000 after buying an additional 31,840 shares in the last quarter. Institutional investors own 18.04% of the company’s stock.
A number of research firms recently weighed in on INSY. Zacks Investment Research downgraded Insys Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. ValuEngine upgraded Insys Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. Royal Bank of Canada restated a “buy” rating and issued a $9.00 price target on shares of Insys Therapeutics in a research note on Thursday, August 9th. Piper Jaffray Companies set a $4.00 price target on Insys Therapeutics and gave the company a “sell” rating in a research note on Saturday, August 11th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $10.00 price target on shares of Insys Therapeutics in a research note on Friday, August 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $7.67.
Insys Therapeutics (NASDAQ:INSY) last posted its quarterly earnings results on Monday, November 5th. The specialty pharmaceutical company reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.08). Insys Therapeutics had a negative net margin of 128.88% and a negative return on equity of 200.14%. The business had revenue of $18.30 million during the quarter, compared to analysts’ expectations of $24.05 million. During the same quarter last year, the firm earned ($2.30) earnings per share. The firm’s quarterly revenue was down 40.4% compared to the same quarter last year. As a group, research analysts anticipate that Insys Therapeutics Inc will post -1.32 EPS for the current year.
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About Insys Therapeutics
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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