Piper Jaffray cut shares of Insys Therapeutics (NASDAQ:INSY) from a neutral rating to an underweight rating in a research report released on Friday, March 9th, MarketBeat reports.
Several other brokerages also recently issued reports on INSY. Oppenheimer reissued a hold rating on shares of Insys Therapeutics in a report on Sunday, November 12th. ValuEngine raised shares of Insys Therapeutics from a strong sell rating to a sell rating in a report on Thursday, December 7th. Zacks Investment Research downgraded shares of Insys Therapeutics from a hold rating to a sell rating in a report on Saturday, February 3rd. Finally, Cann reaffirmed an average rating on shares of Insys Therapeutics in a report on Friday, March 2nd. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Insys Therapeutics has an average rating of Hold and a consensus price target of $9.38.
Shares of NASDAQ:INSY traded down $0.08 during midday trading on Friday, reaching $5.96. The company had a trading volume of 379,858 shares, compared to its average volume of 1,409,580. The firm has a market cap of $445.54, a PE ratio of -12.16 and a beta of 1.13. Insys Therapeutics has a one year low of $4.10 and a one year high of $15.02.
Insys Therapeutics (NASDAQ:INSY) last released its earnings results on Thursday, March 8th. The specialty pharmaceutical company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.47). Insys Therapeutics had a negative net margin of 162.07% and a negative return on equity of 24.02%. The business had revenue of $31.49 million for the quarter, compared to the consensus estimate of $34.00 million. During the same quarter in the previous year, the firm earned $0.03 EPS. The firm’s revenue for the quarter was down 42.6% on a year-over-year basis. analysts forecast that Insys Therapeutics will post -0.83 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the business. Voya Investment Management LLC bought a new stake in Insys Therapeutics in the second quarter worth about $149,000. Dynamic Technology Lab Private Ltd acquired a new stake in Insys Therapeutics during the 3rd quarter worth about $119,000. Royal Bank of Canada raised its holdings in Insys Therapeutics by 100.9% during the 2nd quarter. Royal Bank of Canada now owns 13,695 shares of the specialty pharmaceutical company’s stock worth $173,000 after buying an additional 6,877 shares during the period. Stone Ridge Asset Management LLC acquired a new stake in Insys Therapeutics during the 4th quarter worth about $137,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Insys Therapeutics during the 3rd quarter worth about $135,000. Hedge funds and other institutional investors own 24.04% of the company’s stock.
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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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