Piper Jaffray Companies lowered shares of Insys Therapeutics (NASDAQ:INSY) from a neutral rating to an underweight rating in a research note issued to investors on Friday morning, MarketBeat Ratings reports.
INSY has been the subject of several other research reports. Zacks Investment Research downgraded shares of Insys Therapeutics from a hold rating to a sell rating in a research report on Saturday, February 3rd. ValuEngine raised shares of Insys Therapeutics from a sell rating to a hold rating in a research report on Friday, December 29th. Oppenheimer reissued a hold rating on shares of Insys Therapeutics in a research report on Sunday, November 12th. Finally, Cann reissued an average rating on shares of Insys Therapeutics in a research report on Friday, March 2nd. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $9.38.
Shares of Insys Therapeutics (INSY) opened at $7.28 on Friday. The firm has a market cap of $534.11, a price-to-earnings ratio of -2.31 and a beta of 1.02. Insys Therapeutics has a twelve month low of $4.10 and a twelve month high of $15.02.
Several hedge funds have recently modified their holdings of INSY. Dynamic Technology Lab Private Ltd bought a new stake in shares of Insys Therapeutics during the third quarter worth $119,000. Janney Montgomery Scott LLC bought a new position in Insys Therapeutics in the third quarter valued at $135,000. Stone Ridge Asset Management LLC bought a new position in Insys Therapeutics in the fourth quarter valued at $137,000. Voya Investment Management LLC bought a new position in Insys Therapeutics in the second quarter valued at $149,000. Finally, Royal Bank of Canada grew its position 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 purchasing an additional 6,877 shares in the last quarter. 24.19% of the stock is owned by institutional investors.
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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