Scopia Capital Management Lp buys $163,714,763 stake in Insys Therapeutics Inc (INSY)

Insys Therapeutics Inc (INSY) : Scopia Capital Management Lp scooped up 3,087,987 additional shares in Insys Therapeutics Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 8,912,072 shares of Insys Therapeutics Inc which is valued at $163,714,763.Insys Therapeutics Inc makes up approximately 3.28% of Scopia Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Strategic Investment Management added INSY to its portfolio by purchasing 11,234 company shares during the most recent quarter which is valued at $206,369. Insys Therapeutics Inc makes up approx 0.10% of Strategic Investment Management’s portfolio.Globeflex Capital L P reduced its stake in INSY by selling 16 shares or 0.04% in the most recent quarter. The Hedge Fund company now holds 39,624 shares of INSY which is valued at $727,893. Insys Therapeutics Inc makes up approx 0.19% of Globeflex Capital L P’s portfolio. Diam Ltd. sold out all of its stake in INSY during the most recent quarter. The investment firm sold 198,957 shares of INSY which is valued $3,551,382. Parametrica Management Ltd sold out all of its stake in INSY during the most recent quarter. The investment firm sold 33,562 shares of INSY which is valued $535,314.

Insys Therapeutics Inc opened for trading at $15.14 and hit $16 on the upside on Wednesday, eventually ending the session at $15.71, with a gain of 5.22% or 0.78 points. The heightened volatility saw the trading volume jump to 1,223,510 shares. Company has a market cap of $1,125 M.

On the company’s financial health, Insys Therapeutics Inc reported $0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.07. The company had revenue of $67.10 million for the quarter, compared to analysts expectations of $66.94 million. The company’s revenue was down -13.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.21 EPS.

Insys Therapeutics Inc. is a commercial-stage specialty pharmaceutical company. The Company develops and commercializes supportive care products. The Company has two marketed products: Subsys a sublingual fentanyl spray for breakthrough cancer pain (BTCP) in opioid-tolerant patients and Dronabinol SG Capsule a generic equivalent to Marinol (dronabinol) an approved second-line treatment of chemotherapy-induced nausea and vomiting (CINV) and anorexia associated with weight loss in patients with AIDS. The Company’s lead product candidate is Dronabinol oral solution an orally administered liquid formulation of dronabinol. Dronabinol oral solution has demonstrated more rapidly detectable blood levels and a more reliable absorption profile than Marinol in its clinical studies.

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