Insys Therapeutics (INSY) Stock Price Down 3.9%

Shares of Insys Therapeutics Inc (NASDAQ:INSY) were down 3.9% on Wednesday . The stock traded as low as $0.91 and last traded at $0.87. Approximately 419,539 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 1,136,423 shares. The stock had previously closed at $0.91.

Several analysts have weighed in on INSY shares. ValuEngine raised Insys Therapeutics from a “hold” rating to a “buy” rating in a report on Monday. Zacks Investment Research upgraded Insys Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Janney Montgomery Scott downgraded Insys Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 14th. Royal Bank of Canada reduced their price objective 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. Finally, Cantor Fitzgerald began coverage on Insys Therapeutics in a research report on Tuesday, January 22nd. They issued an “overweight” rating and a $4.40 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $7.28.

The stock has a market cap of $71.45 million, a PE ratio of -0.63 and a beta of 2.43.

Insys Therapeutics (NASDAQ:INSY) last issued its quarterly earnings data 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). Insys Therapeutics had a negative net margin of 346.61% and a negative return on equity of 1,430.52%. The company had revenue of $7.63 million during the quarter, compared to analysts’ expectations of $14.95 million. During the same quarter in the prior year, the company earned ($0.19) earnings per share. The firm’s revenue was down 68.1% compared to the same quarter last year. On average, equities analysts expect that Insys Therapeutics Inc will post -1.55 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new stake in shares of Insys Therapeutics in the third quarter valued at $113,000. Two Sigma Advisers LP purchased a new position in Insys Therapeutics during the fourth quarter worth about $53,000. Millennium Management LLC lifted its position in Insys Therapeutics by 88.7% during the fourth quarter. Millennium Management LLC now owns 545,487 shares of the specialty pharmaceutical company’s stock worth $1,909,000 after buying an additional 256,474 shares during the period. ETF Managers Group LLC purchased a new position in Insys Therapeutics during the fourth quarter worth about $5,076,000. Finally, Norges Bank purchased a new position in Insys Therapeutics during the fourth quarter worth about $2,195,000. Institutional investors and hedge funds own 13.92% of the company’s stock.

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Insys Therapeutics Company Profile (NASDAQ:INSY)

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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