Insys Therapeutics’ (INSY) Outperform Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada reissued their outperform rating on shares of Insys Therapeutics, Inc. (NASDAQ:INSY) in a research report sent to investors on Wednesday. Royal Bank Of Canada currently has a $14.00 price objective on the specialty pharmaceutical company’s stock.

A number of other equities research analysts also recently issued reports on the stock. BidaskClub raised shares of Insys Therapeutics from a hold rating to a buy rating in a research report on Saturday, July 8th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Insys Therapeutics in a research report on Tuesday, July 4th. Piper Jaffray Companies set a $10.00 price objective on shares of Insys Therapeutics and gave the stock a hold rating in a research report on Wednesday, July 26th. Zacks Investment Research downgraded shares of Insys Therapeutics from a strong-buy rating to a hold rating in a research report on Wednesday, August 9th. Finally, TheStreet downgraded shares of Insys Therapeutics from a c- rating to a d+ rating in a research report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Insys Therapeutics has a consensus rating of Hold and an average price target of $13.25.

Shares of Insys Therapeutics (NASDAQ INSY) traded down 3.32% during midday trading on Wednesday, reaching $7.87. 758,612 shares of the company traded hands. Insys Therapeutics has a 12-month low of $7.55 and a 12-month high of $15.06. The firm’s market capitalization is $572.12 million. The company has a 50-day moving average of $9.14 and a 200 day moving average of $10.95.

Insys Therapeutics (NASDAQ:INSY) last posted its earnings results on Thursday, August 3rd. The specialty pharmaceutical company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.12. The company had revenue of $42.60 million during the quarter, compared to the consensus estimate of $36.90 million. Insys Therapeutics had a negative net margin of 9.63% and a negative return on equity of 3.02%. The firm’s revenue for the quarter was down 38.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 earnings per share. On average, equities analysts forecast that Insys Therapeutics will post ($0.33) earnings per share for the current year.

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In related news, major shareholder John N. Kapoor Trust Dated Sept bought 17,500 shares of the company’s stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $8.93 per share, for a total transaction of $156,275.00. Following the completion of the purchase, the insider now directly owns 31,982 shares in the company, valued at $285,599.26. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Saeed Motahari bought 5,500 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was bought at an average price of $8.92 per share, for a total transaction of $49,060.00. Following the completion of the purchase, the chief executive officer now owns 15,400 shares of the company’s stock, valued at $137,368. The disclosure for this purchase can be found here. Corporate insiders own 67.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Schneider Capital Management Corp boosted its stake in Insys Therapeutics by 100.0% in the second quarter. Schneider Capital Management Corp now owns 119,973 shares of the specialty pharmaceutical company’s stock valued at $1,518,000 after acquiring an additional 60,000 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Insys Therapeutics by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 21,576 shares of the specialty pharmaceutical company’s stock valued at $274,000 after acquiring an additional 938 shares during the last quarter. State Street Corp boosted its stake in Insys Therapeutics by 3.4% in the second quarter. State Street Corp now owns 471,514 shares of the specialty pharmaceutical company’s stock valued at $5,966,000 after acquiring an additional 15,570 shares during the last quarter. Royal Bank of Canada boosted its stake in Insys Therapeutics by 100.9% in the second quarter. Royal Bank of Canada now owns 13,695 shares of the specialty pharmaceutical company’s stock valued at $173,000 after acquiring an additional 6,877 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Insys Therapeutics by 2.8% in the second quarter. Goldman Sachs Group Inc. now owns 137,453 shares of the specialty pharmaceutical company’s stock valued at $1,738,000 after acquiring an additional 3,785 shares during the last quarter. Hedge funds and other institutional investors own 25.44% of the company’s stock.

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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