Insys Therapeutics Inc (NASDAQ:INSY) has earned a consensus rating of “Buy” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $7.28.
Several analysts recently commented on INSY shares. ValuEngine raised Insys Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Piper Jaffray Companies set a $4.00 target price on Insys Therapeutics and gave the stock a “sell” rating in a report on Friday, March 8th. Janney Montgomery Scott reaffirmed a “buy” rating and set a $11.00 target price on shares of Insys Therapeutics in a report on Wednesday, December 19th. Cantor Fitzgerald assumed coverage on Insys Therapeutics in a research report on Tuesday, January 22nd. They set an “overweight” rating and a $4.40 price target on the stock. Finally, Royal Bank of Canada lowered their price target on Insys Therapeutics from $9.00 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, March 8th.
Insys Therapeutics stock traded down $0.09 during midday trading on Wednesday, hitting $4.53. 340,940 shares of the company were exchanged, compared to its average volume of 1,068,084. The firm has a market cap of $343.87 million, a price-to-earnings ratio of -3.26 and a beta of 2.51. Insys Therapeutics has a fifty-two week low of $3.35 and a fifty-two week high of $11.65.
A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its position in Insys Therapeutics by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 320,314 shares of the specialty pharmaceutical company’s stock worth $1,121,000 after purchasing an additional 8,064 shares in the last quarter. Norges Bank purchased a new position in shares of Insys Therapeutics in the fourth quarter valued at approximately $2,195,000. Raging Capital Management LLC purchased a new position in shares of Insys Therapeutics in the fourth quarter valued at approximately $998,000. Millennium Management LLC lifted its position in shares of Insys Therapeutics by 88.7% in the fourth quarter. Millennium Management LLC now owns 545,487 shares of the specialty pharmaceutical company’s stock valued at $1,909,000 after acquiring an additional 256,474 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Insys Therapeutics by 411.1% in the fourth quarter. Squarepoint Ops LLC now owns 60,513 shares of the specialty pharmaceutical company’s stock valued at $212,000 after acquiring an additional 48,674 shares in the last quarter. Institutional investors own 16.36% 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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