Millennium Management LLC Invests $1.23 Million in Insys Therapeutics Inc (INSY) Stock

Millennium Management LLC bought a new position in shares of Insys Therapeutics Inc (NASDAQ:INSY) during the 2nd quarter, HoldingsChannel reports. The firm bought 170,104 shares of the specialty pharmaceutical company’s stock, valued at approximately $1,232,000.

A number of other institutional investors have also bought and sold shares of INSY. JPMorgan Chase & Co. raised its stake in shares of Insys Therapeutics by 303.5% during the 1st quarter. JPMorgan Chase & Co. now owns 25,624 shares of the specialty pharmaceutical company’s stock worth $155,000 after buying an additional 19,273 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Insys Therapeutics by 47.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 31,105 shares of the specialty pharmaceutical company’s stock worth $225,000 after buying an additional 10,001 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Insys Therapeutics by 33.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 126,335 shares of the specialty pharmaceutical company’s stock worth $915,000 after buying an additional 31,840 shares during the period. BlackRock Inc. raised its stake in shares of Insys Therapeutics by 7.9% during the 2nd quarter. BlackRock Inc. now owns 2,637,505 shares of the specialty pharmaceutical company’s stock worth $19,096,000 after buying an additional 193,740 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Insys Therapeutics during the 2nd quarter worth approximately $131,000. 18.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of INSY opened at $8.95 on Friday. Insys Therapeutics Inc has a one year low of $4.88 and a one year high of $14.00. The company has a market cap of $618.46 million, a P/E ratio of -18.27 and a beta of 1.65.

Insys Therapeutics (NASDAQ:INSY) last issued its quarterly earnings results on Wednesday, August 8th. The specialty pharmaceutical company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ 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 analysts’ expectations of $25.91 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. The firm’s revenue for the quarter was down 44.9% compared to the same quarter last year. As a group, analysts predict that Insys Therapeutics Inc will post -1.24 EPS for the current fiscal year.

Several research analysts have recently weighed in on INSY shares. ValuEngine raised Insys Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. Piper Jaffray Companies set a $4.00 target price on Insys Therapeutics and gave the stock a “sell” rating in a research note on Saturday, August 11th. Jefferies Financial Group reiterated a “buy” rating and set a $10.00 price target on shares of Insys Therapeutics in a research report on Friday, August 10th. Royal Bank of Canada reiterated a “buy” rating and set a $9.00 price target on shares of Insys Therapeutics in a research report on Thursday, August 9th. Finally, Zacks Investment Research cut Insys Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $7.67.

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

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