Insys Therapeutics (NASDAQ:INSY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “Insys Therapeutics, Inc. is a commercial-stage specialty pharmaceutical company. It is engaged in the development and commercialization of pharmaceutical products that target the unmet needs of cancer patients, with an initial focus on cancer-supportive care. The company’s cancer-supportive care and cancer therapy product candidates include Fentanyl sublingual spray and Dronabinol SG capsule. Insys Therapeutics, Inc. is based in Phoenix, Arizona. “

Other analysts have also recently issued reports about the stock. Jefferies Financial Group restated a “buy” rating and set a $10.00 price objective on shares of Insys Therapeutics in a research note on Friday, August 10th. Royal Bank of Canada restated a “buy” rating and set a $9.00 price objective on shares of Insys Therapeutics in a research note on Thursday, August 9th. ValuEngine upgraded shares of Insys Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. Finally, Piper Jaffray Companies set a $4.00 price objective on shares of Insys Therapeutics and gave the company a “sell” rating in a research note on Saturday, August 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Insys Therapeutics has an average rating of “Hold” and a consensus target price of $7.88.

Shares of NASDAQ INSY opened at $8.90 on Thursday. Insys Therapeutics has a 12 month low of $4.10 and a 12 month high of $14.00. The company has a market cap of $748.39 million, a price-to-earnings ratio of -18.14 and a beta of 1.65.

Insys Therapeutics (NASDAQ:INSY) last announced its quarterly earnings data on Wednesday, August 8th. The specialty pharmaceutical company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.17). Insys Therapeutics had a negative net margin of 238.31% and a negative return on equity of 130.43%. The business had revenue of $23.47 million for the quarter, compared to analyst estimates of $25.91 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. The business’s revenue was down 44.9% on a year-over-year basis. Equities research analysts predict that Insys Therapeutics will post -1.24 earnings per share for the current year.

Several large investors have recently bought and sold shares of INSY. JPMorgan Chase & Co. increased its holdings in shares of Insys Therapeutics by 303.5% during the 1st quarter. JPMorgan Chase & Co. now owns 25,624 shares of the specialty pharmaceutical company’s stock valued at $155,000 after purchasing an additional 19,273 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Insys Therapeutics by 47.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 31,105 shares of the specialty pharmaceutical company’s stock valued at $225,000 after purchasing an additional 10,001 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Insys Therapeutics by 33.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 126,335 shares of the specialty pharmaceutical company’s stock valued at $915,000 after purchasing an additional 31,840 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Insys Therapeutics by 7.9% during the 2nd quarter. BlackRock Inc. now owns 2,637,505 shares of the specialty pharmaceutical company’s stock valued at $19,096,000 after purchasing an additional 193,740 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Insys Therapeutics during the 2nd quarter valued at approximately $131,000. 18.12% of the stock is owned by hedge funds and other institutional investors.

About Insys Therapeutics

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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