Insys Therapeutics (INSY) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Insys Therapeutics (NASDAQ:INSY) from a hold rating to a buy rating in a research report report published on Monday, ValuEngine reports.

INSY has been the subject of several other reports. Cantor Fitzgerald initiated coverage on Insys Therapeutics in a research report on Tuesday, January 22nd. They issued an overweight rating and a $4.40 price objective for the company. Royal Bank of Canada lowered their price objective on Insys Therapeutics from $9.00 to $7.00 and set an outperform rating for the company in a research report on Friday, March 8th. Piper Jaffray Companies set a $4.00 price objective on Insys Therapeutics and gave the stock a sell rating in a research report on Friday, March 8th. Zacks Investment Research raised Insys Therapeutics from a sell rating to a hold rating in a research report on Thursday, May 9th. Finally, Janney Montgomery Scott lowered Insys Therapeutics from a buy rating to a neutral rating in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Insys Therapeutics currently has a consensus rating of Hold and an average target price of $7.28.

Shares of NASDAQ:INSY opened at $0.96 on Monday. The firm has a market cap of $79.04 million, a P/E ratio of -0.69 and a beta of 2.43. Insys Therapeutics has a 12-month low of $0.82 and a 12-month high of $11.65.

Insys Therapeutics (NASDAQ:INSY) last announced its earnings results on Friday, May 10th. The specialty pharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.33). The company had revenue of $7.63 million for the quarter, compared to the consensus estimate of $14.95 million. Insys Therapeutics had a negative return on equity of 1,430.52% and a negative net margin of 346.61%. The firm’s revenue for the quarter was down 68.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.19) earnings per share. On average, equities research analysts anticipate that Insys Therapeutics will post -1.55 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale increased its position in Insys Therapeutics by 23.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 28,500 shares of the specialty pharmaceutical company’s stock valued at $304,000 after buying an additional 5,500 shares in the last quarter. Bank of America Corp DE boosted its stake in Insys Therapeutics by 25.2% during the 4th quarter. Bank of America Corp DE now owns 32,129 shares of the specialty pharmaceutical company’s stock valued at $112,000 after purchasing an additional 6,462 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Insys Therapeutics by 108.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 13,162 shares of the specialty pharmaceutical company’s stock valued at $61,000 after purchasing an additional 6,839 shares during the last quarter. Quantamental Technologies LLC acquired a new position in Insys Therapeutics during the 4th quarter valued at about $26,000. Finally, Geode Capital Management LLC boosted its stake in Insys Therapeutics by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 320,314 shares of the specialty pharmaceutical company’s stock valued at $1,121,000 after purchasing an additional 8,064 shares during the last quarter. 13.92% of the stock is owned by institutional investors and hedge funds.

Insys Therapeutics Company Profile

Insys Therapeutics, Inc, a specialty pharmaceutical company, focuses on cannabinoids and drug delivery systems that address unmet patient needs. 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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