Insys Therapeutics (NASDAQ:INSY) Share Price Crosses Below 50-Day Moving Average of $1.04

Insys Therapeutics Inc (NASDAQ:INSY) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $1.04 and traded as low as $0.29. Insys Therapeutics shares last traded at $0.33, with a volume of 753,498 shares trading hands.

INSY has been the topic of a number of recent research reports. ValuEngine raised Insys Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. 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 report on Friday, March 8th. Piper Jaffray Companies set a $4.00 price target on Insys Therapeutics and gave the company a “sell” rating in a research report on Friday, March 8th. Zacks Investment Research raised Insys Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Finally, Janney Montgomery Scott cut Insys Therapeutics from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $7.28.

The company has a market cap of $22.37 million, a P/E ratio of -0.22 and a beta of 3.21. The company’s 50 day simple moving average is $0.89.

Insys Therapeutics (NASDAQ:INSY) last released its quarterly earnings data 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). Insys Therapeutics had a negative net margin of 346.61% and a negative return on equity of 1,430.37%. The company had revenue of $7.63 million for the quarter, compared to the consensus estimate of $14.95 million. During the same quarter in the previous year, the firm posted ($0.19) earnings per share. The business’s revenue for the quarter was down 68.1% compared to the same quarter last year. Research analysts forecast that Insys Therapeutics Inc will post -1.55 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in INSY. Rhumbline Advisers boosted its stake in Insys Therapeutics by 46.3% during the fourth quarter. Rhumbline Advisers now owns 36,822 shares of the specialty pharmaceutical company’s stock worth $129,000 after buying an additional 11,657 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Insys Therapeutics by 8.9% during the fourth quarter. Bank of New York Mellon Corp now owns 118,434 shares of the specialty pharmaceutical company’s stock worth $414,000 after buying an additional 9,689 shares in the last quarter. Magnus Financial Group LLC acquired a new stake in Insys Therapeutics during the fourth quarter worth $47,000. Geode Capital Management LLC boosted its stake 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 buying an additional 8,064 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new stake in Insys Therapeutics during the fourth quarter worth $156,000. Institutional investors own 14.93% of the company’s stock.

About Insys Therapeutics (NASDAQ:INSY)

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.

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