Eqis Capital Management Lowers stake in Insys Therapeutics Inc (INSY)

Insys Therapeutics Inc (INSY) : Eqis Capital Management reduced its stake in Insys Therapeutics Inc by 2.23% during the most recent quarter end. The investment management company now holds a total of 92,663 shares of Insys Therapeutics Inc which is valued at $1,203,692 after selling 2,111 shares in Insys Therapeutics Inc , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.Insys Therapeutics Inc makes up approximately 0.08% of Eqis Capital Management’s portfolio.

Insys Therapeutics Inc closed down -0.36 points or -2.85% at $12.27 with 4,59,848 shares getting traded on Tuesday. Post opening the session at $12.71, the shares hit an intraday low of $12.12 and an intraday high of $12.85 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

Many Wall Street Analysts have commented on Insys Therapeutics Inc. Shares were Reiterated by RBC Capital Mkts on Sep 22, 2016 to “Outperform” and Lowered the Price Target to $ 26 from a previous price target of $32 .

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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