Insys Therapeutics Inc (NASDAQ:INSY) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 8,534,908 shares, an increase of 32.1% from the January 15th total of 6,458,929 shares. Approximately 31.8% of the shares of the company are sold short. Based on an average daily volume of 1,072,688 shares, the days-to-cover ratio is presently 8.0 days.
INSY has been the topic of a number of recent analyst reports. Janney Montgomery Scott set a $11.00 price target on shares of Insys Therapeutics and gave the company a “buy” rating in a research report on Saturday, January 19th. Cantor Fitzgerald initiated coverage on shares of Insys Therapeutics in a research report on Tuesday, January 22nd. They issued an “overweight” rating and a $4.40 price target on the stock. ValuEngine raised shares of Insys Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 1st. Finally, Zacks Investment Research lowered shares of Insys Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $7.68.
Shares of Insys Therapeutics stock traded down $0.02 during midday trading on Monday, hitting $4.39. The company had a trading volume of 1,157,756 shares, compared to its average volume of 1,039,927. The company has a market cap of $326.79 million, a price-to-earnings ratio of -8.96 and a beta of 2.30. Insys Therapeutics has a 1-year low of $3.35 and a 1-year high of $11.65.
Several institutional investors have recently made changes to their positions in INSY. ETF Managers Group LLC acquired a new stake in shares of Insys Therapeutics in the fourth quarter worth $5,076,000. BlackRock Inc. grew its stake in shares of Insys Therapeutics by 7.9% in the second quarter. BlackRock Inc. now owns 2,637,505 shares of the specialty pharmaceutical company’s stock worth $19,096,000 after acquiring an additional 193,740 shares during the last quarter. Millennium Management LLC acquired a new stake in Insys Therapeutics during the second quarter worth $1,232,000. Vanguard Group Inc boosted its stake in Insys Therapeutics by 4.7% during the third quarter. Vanguard Group Inc now owns 2,661,324 shares of the specialty pharmaceutical company’s stock worth $26,825,000 after buying an additional 119,776 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Insys Therapeutics by 4.7% during the third quarter. Vanguard Group Inc. now owns 2,661,324 shares of the specialty pharmaceutical company’s stock worth $26,825,000 after buying an additional 119,776 shares in the last quarter. Institutional investors and hedge funds own 19.04% of the company’s stock.
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Insys Therapeutics Company Profile
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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