INSYS Therapeutics, Inc. (NASDAQ:INSY) is one of the best performers on the stock market today. At current price of $0.39, the shares have already added 0.25 points (176.41% higher) from its previous close of $0.14. Should you buy or avoid them? The stock sets an active trading volume day with a reported 19468325 contracts so far this session. INSY shares had a relatively better volume day versus average trading capacity of 1.79 million shares, but with a 26.82 million float and a -82.92% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for INSY stock indicates that the average analyst price target is $8 per share. This means the stock has a potential increase of 1951.28% from where the INSY share price has been trading recently which is between $0.142 and $0.63.
The shorts are running away from INSYS Therapeutics, Inc. (INSY) stock. The latest set of short interest data was released on 31 May 2019, and the numbers show a drop in short interest in INSY shares. While short interest still represents only 42.31% of INSY’s float, the number of shares shorted have fallen by -961164. The number of shares shorted fell to 10385962 shares, down from 11347126 shares during the preceding fortnight. With average daily trading volumes at 1039479 shares, days to cover increased to about 4.134908 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Insys Therapeutics’ stock jumps after bankruptcy court approves ‘First Day’ motions” and dated June 12, 2019.
During the recent trading session for INSYS Therapeutics, Inc. (NASDAQ:INSY), the company witnessed their stock drop by $-0.49 over a week and tumble down $-0.86 from the price 20 days ago. When compared to their established 52-week high of $11.65, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/30/18. The recent low of $0.14 stood for a -96.63% since 11/06/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 3.34 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for INSYS Therapeutics, Inc., the two-week RSI stands at 29.5. This figure suggests that INSY stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current INSY readings is similarly very revealing as it has a stochastic reading of 22.79% at this stage. This figure means that INSY share price today is being overbought.
Technical chart claims that INSYS Therapeutics, Inc. (INSY) would settle between $0.47/share to $0.79/share level. However, if the stock price goes below the $0 mark, then the market for INSYS Therapeutics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.37. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Janney lowered their recommendation on shares of INSY from Buy to Neutral in their opinion released on May 14. Janney, analysts launched coverage of INSYS Therapeutics, Inc. (NASDAQ:INSY) stock with a Buy recommendation, according to their flash note issued to investors on December 19. Analysts at Piper Jaffray lowered the stock to a Underweight call from its previous Neutral recommendation, in a research note that dated back to March 09.
INSY equity has an average rating of 2.5, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 2 analysts rated INSYS Therapeutics, Inc. (NASDAQ:INSY) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, INSY stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 3.37 while for the average stock in the same group, the multiple is 49.5.
INSYS Therapeutics, Inc. (INSY)’s current-quarter revenues are projected to climb by nearly -65.06% to hit $8.2 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -48.97% from $82.08 million to a noteworthy $41.88 million. At the other end of the current quarter income statement, INSYS Therapeutics, Inc. is expected to see its adjusted earnings surge by roughly 75.76% to hit $-0.08 per share. For the fiscal year, INSY’s earnings are projected to climb by roughly 32.28% to hit $-0.86 per share.