Rhumbline Advisers Purchases 12,400 Shares of Insys Therapeutics Inc (NASDAQ:INSY)

Rhumbline Advisers raised its position in Insys Therapeutics Inc (NASDAQ:INSY) by 33.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,222 shares of the specialty pharmaceutical company’s stock after acquiring an additional 12,400 shares during the period. Rhumbline Advisers owned about 0.07% of Insys Therapeutics worth $227,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Insys Therapeutics during the first quarter worth about $54,000. BNP Paribas Arbitrage SA lifted its holdings in Insys Therapeutics by 108.2% during the first quarter. BNP Paribas Arbitrage SA now owns 13,162 shares of the specialty pharmaceutical company’s stock worth $61,000 after acquiring an additional 6,839 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Insys Therapeutics by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 320,314 shares of the specialty pharmaceutical company’s stock worth $1,121,000 after acquiring an additional 8,064 shares in the last quarter. Norges Bank acquired a new stake in shares of Insys Therapeutics in the 4th quarter valued at about $2,195,000. Finally, Raging Capital Management LLC acquired a new stake in shares of Insys Therapeutics in the 4th quarter valued at about $998,000. 14.94% of the stock is owned by hedge funds and other institutional investors.

INSY opened at $0.40 on Friday. Insys Therapeutics Inc has a 1 year low of $0.14 and a 1 year high of $11.65. The stock has a market capitalization of $25.35 million, a price-to-earnings ratio of -0.29 and a beta of 3.21.

Insys Therapeutics (NASDAQ:INSY) last released its earnings results on Friday, May 10th. The specialty pharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.33). The company had revenue of $7.63 million during the quarter, compared to analyst estimates of $14.95 million. Insys Therapeutics had a negative net margin of 346.61% and a negative return on equity of 1,430.37%. Insys Therapeutics’s revenue was down 68.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) EPS. Equities research analysts forecast that Insys Therapeutics Inc will post -1.55 earnings per share for the current fiscal year.

Several research firms have issued reports on INSY. Zacks Investment Research raised Insys Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. ValuEngine downgraded Insys Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Janney Montgomery Scott downgraded Insys Therapeutics from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 14th. Royal Bank of Canada dropped their price target on Insys Therapeutics from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, March 8th. Finally, Piper Jaffray Companies set a $4.00 price target on Insys Therapeutics and gave the company a “sell” rating in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Insys Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $7.28.

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Insys Therapeutics Profile

Insys Therapeutics, Inc, a specialty pharmaceutical company, focuses on cannabinoids and drug delivery systems that address unmet patient needs. 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.

Further Reading: Earnings Per Share

Institutional Ownership by Quarter for Insys Therapeutics (NASDAQ:INSY)

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