Insys Therapeutics Inc (NASDAQ:INSY) has been given a consensus recommendation of “Hold” by the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $7.67.
A number of research analysts have recently issued reports on INSY shares. Zacks Investment Research upgraded shares of Insys Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. Jefferies Financial Group reiterated a “buy” rating and set a $10.00 price objective on shares of Insys Therapeutics in a research report on Friday, August 10th. ValuEngine upgraded shares of Insys Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 1st. Piper Jaffray Companies set a $4.00 price objective on shares of Insys Therapeutics and gave the company a “sell” rating in a report on Saturday, August 11th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $9.00 price objective on shares of Insys Therapeutics in a research note on Thursday, August 9th.
Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Insys Therapeutics by 303.5% during the 1st quarter. JPMorgan Chase & Co. now owns 25,624 shares of the specialty pharmaceutical company’s stock worth $155,000 after acquiring an additional 19,273 shares during the period. BNP Paribas Arbitrage SA grew its holdings 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 purchasing an additional 10,001 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Insys Therapeutics by 33.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 126,335 shares of the specialty pharmaceutical company’s stock worth $915,000 after buying an additional 31,840 shares during the period. BlackRock Inc. boosted its stake in Insys Therapeutics by 7.9% during the second quarter. BlackRock Inc. now owns 2,637,505 shares of the specialty pharmaceutical company’s stock worth $19,096,000 after buying an additional 193,740 shares during the period. Finally, Tower Research Capital LLC TRC purchased a new position in Insys Therapeutics during the second quarter worth $131,000. Hedge funds and other institutional investors own 18.45% of the company’s stock.
Insys Therapeutics (NASDAQ:INSY) last issued its quarterly earnings results on Monday, November 5th. The specialty pharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 266.60%. The business had revenue of $18.30 million during the quarter, compared to analyst estimates of $24.05 million. During the same period in the prior year, the business posted ($2.30) earnings per share. The company’s revenue for the quarter was down 40.4% compared to the same quarter last year. On average, equities analysts expect that Insys Therapeutics will post -1.32 earnings per share for the current year.
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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