Brokerages expect that Insys Therapeutics Inc (NASDAQ:INSY) will announce ($0.20) earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Insys Therapeutics’ earnings, with estimates ranging from ($0.24) to ($0.15). Insys Therapeutics reported earnings of ($0.21) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.8%. The firm is expected to announce its next earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Insys Therapeutics will report full-year earnings of ($0.88) per share for the current financial year, with EPS estimates ranging from ($0.97) to ($0.78). For the next fiscal year, analysts forecast that the business will report earnings of ($0.47) per share, with EPS estimates ranging from ($0.69) to ($0.24). Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Insys Therapeutics.
Insys Therapeutics (NASDAQ:INSY) last posted its earnings results on Wednesday, August 8th. The specialty pharmaceutical company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.17). Insys Therapeutics had a negative return on equity of 130.43% and a negative net margin of 238.31%. The firm had revenue of $23.47 million for the quarter, compared to analyst estimates of $25.91 million. During the same period in the prior year, the business posted $0.03 EPS. The firm’s quarterly revenue was down 44.9% compared to the same quarter last year.
A number of research firms have recently weighed in on INSY. Zacks Investment Research raised Insys Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 22nd. ValuEngine raised Insys Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, June 15th. Royal Bank of Canada reissued a “buy” rating and set a $9.00 target price on shares of Insys Therapeutics in a report on Thursday, August 9th. Piper Jaffray Companies set a $4.00 target price on Insys Therapeutics and gave the stock a “sell” rating in a report on Saturday, August 11th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $10.00 target price on shares of Insys Therapeutics in a report on Friday, August 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $7.88.
Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in shares of Insys Therapeutics by 303.5% in the first quarter. JPMorgan Chase & Co. now owns 25,624 shares of the specialty pharmaceutical company’s stock worth $155,000 after purchasing an additional 19,273 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Insys Therapeutics by 47.4% in the second quarter. BNP Paribas Arbitrage SA now owns 31,105 shares of the specialty pharmaceutical company’s stock worth $225,000 after purchasing an additional 10,001 shares during the period. Deutsche Bank AG increased its position in shares of Insys Therapeutics by 116.1% in the fourth quarter. Deutsche Bank AG now owns 53,827 shares of the specialty pharmaceutical company’s stock worth $515,000 after purchasing an additional 28,923 shares during the period. Wells Fargo & Company MN increased its position in shares of Insys Therapeutics by 37.3% in the fourth quarter. Wells Fargo & Company MN now owns 57,020 shares of the specialty pharmaceutical company’s stock worth $549,000 after purchasing an additional 15,504 shares during the period. Finally, ETF Managers Group LLC increased its position in shares of Insys Therapeutics by 130.2% in the first quarter. ETF Managers Group LLC now owns 649,898 shares of the specialty pharmaceutical company’s stock worth $3,873,000 after purchasing an additional 367,630 shares during the period. Institutional investors own 18.13% of the company’s stock.
Shares of INSY traded down $0.61 during midday trading on Thursday, reaching $8.10. 992,700 shares of the stock were exchanged, compared to its average volume of 989,363. Insys Therapeutics has a twelve month low of $4.10 and a twelve month high of $14.00. The company has a market capitalization of $694.19 million, a P/E ratio of -17.57 and a beta of 1.75.
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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