Insys Therapeutics Sees Unusually Large Options Volume (INSY)
Insys Therapeutics Inc (NASDAQ:INSY) saw unusually large options trading activity on Thursday. Traders purchased 2,156 put options on the company. This is an increase of 1,300% compared to the average daily volume of 154 put options.
Several research firms have weighed in on INSY. Zacks Investment Research raised shares of Insys Therapeutics from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research note on Wednesday, October 18th. Royal Bank of Canada set a $8.00 price objective on shares of Insys Therapeutics and gave the company a “buy” rating in a research report on Friday, October 27th. Jefferies Group decreased their price objective on shares of Insys Therapeutics from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Oppenheimer restated a “hold” rating on shares of Insys Therapeutics in a research report on Sunday, November 12th. Finally, ValuEngine upgraded shares of Insys Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, December 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $9.38.
A number of institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC bought a new position in Insys Therapeutics during the third quarter valued at approximately $135,000. Schwab Charles Investment Management Inc. lifted its position in Insys Therapeutics by 31.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 104,812 shares of the specialty pharmaceutical company’s stock valued at $931,000 after purchasing an additional 24,869 shares during the period. Wells Fargo & Company MN lifted its position in Insys Therapeutics by 50.1% during the third quarter. Wells Fargo & Company MN now owns 41,516 shares of the specialty pharmaceutical company’s stock valued at $368,000 after purchasing an additional 13,849 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Insys Therapeutics during the third quarter valued at approximately $119,000. Finally, Schneider Capital Management Corp increased its holdings in Insys Therapeutics by 100.0% during 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 buying an additional 60,000 shares during the last quarter. Institutional investors own 25.35% of the company’s stock.
Insys Therapeutics (NASDAQ:INSY) last issued its earnings results on Thursday, November 2nd. The specialty pharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Insys Therapeutics had a negative return on equity of 11.76% and a negative net margin of 112.56%. equities research analysts anticipate that Insys Therapeutics will post -0.63 earnings per share for the current fiscal year.
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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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