Brokerages predict that Insys Therapeutics, Inc. (NASDAQ:INSY) will report sales of $34.27 million for the current quarter, Zacks reports. Three analysts have made estimates for Insys Therapeutics’ earnings. The highest sales estimate is $38.00 million and the lowest is $30.82 million. Insys Therapeutics reported sales of $54.86 million during the same quarter last year, which would suggest a negative year over year growth rate of 37.5%. The company is scheduled to announce its next earnings results on Monday, April 2nd.
On average, analysts expect that Insys Therapeutics will report full-year sales of $34.27 million for the current fiscal year, with estimates ranging from $140.03 million to $155.00 million. For the next financial year, analysts forecast that the firm will report sales of $169.19 million per share, with estimates ranging from $156.45 million to $186.13 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Insys Therapeutics.
Several equities analysts have recently issued reports on INSY shares. BidaskClub downgraded shares of Insys Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Piper Jaffray Companies set a $10.00 price objective on shares of Insys Therapeutics and gave the company a “hold” rating in a report on Wednesday, July 26th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Insys Therapeutics in a report on Thursday, August 3rd. Royal Bank Of Canada cut their price objective on shares of Insys Therapeutics from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. Finally, Zacks Investment Research downgraded shares of Insys Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Insys Therapeutics has a consensus rating of “Hold” and an average target price of $9.38.
Insys Therapeutics (NASDAQ:INSY) traded down $0.05 on Friday, hitting $5.16. 485,500 shares of the stock traded hands, compared to its average volume of 907,903. Insys Therapeutics has a 12-month low of $4.10 and a 12-month high of $15.02.
Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp grew its stake in shares of Insys Therapeutics by 3.4% during the 2nd quarter. State Street Corp now owns 471,514 shares of the specialty pharmaceutical company’s stock worth $5,966,000 after purchasing an additional 15,570 shares during the period. Northern Trust Corp grew its stake in shares of Insys Therapeutics by 3.2% during the 2nd quarter. Northern Trust Corp now owns 314,825 shares of the specialty pharmaceutical company’s stock worth $3,983,000 after purchasing an additional 9,906 shares during the period. Geode Capital Management LLC grew its stake in shares of Insys Therapeutics by 9.7% during the 1st quarter. Geode Capital Management LLC now owns 305,044 shares of the specialty pharmaceutical company’s stock worth $3,206,000 after purchasing an additional 26,913 shares during the period. FMR LLC grew its stake in shares of Insys Therapeutics by 4.7% during the 2nd quarter. FMR LLC now owns 254,588 shares of the specialty pharmaceutical company’s stock worth $3,221,000 after purchasing an additional 11,504 shares during the period. Finally, Strs Ohio lifted its position in shares of Insys Therapeutics by 40.0% during the 2nd quarter. Strs Ohio now owns 175,000 shares of the specialty pharmaceutical company’s stock valued at $2,213,000 after buying an additional 50,000 shares in the last quarter. 25.42% of the stock is currently owned by institutional investors and hedge funds.
About Insys Therapeutics
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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