Insys Therapeutics (INSY): Cutting Ests On RX Slowdown - Jefferies

October 10, 2016 8:27 AM EDT
Get Alerts INSY Hot Sheet
Price: $11.85 --0%

Rating Summary:
    5 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 7 | New: 5
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Jefferies analyst, David Steinberg, reiterated his Buy rating on shares of INSYS Therapeutics (NASDAQ: INSY) but cut his price target to $18 from $22. After stabilizing in 1H16, Subsys Rxs further decelerated in Q3 (-14% Q/Q). This coincides with a 13% Q/Q Rx decline for the TIRF class reflecting ongoing scrutiny of opioids.

As a result, the analyst cut his FY16, and FY17 Subsys ests 8% and 11%, respectively. The pending launch of Syndros and maturation of the sublingual spray pipeline are the keys to resurrecting growth. However, near term, the critical wild card is the DOJ investigation. A decision could potentially come soon.

For an analyst ratings summary and ratings history on INSYS Therapeutics click here. For more ratings news on INSYS Therapeutics click here.

Shares of INSYS Therapeutics closed at $12.28 yesterday.

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