Insys Therapeutics (INSY): Cutting PT On Unexpected CEO Succession - RBC

September 22, 2016 6:10 AM EDT
Get Alerts INSY Hot Sheet
Price: $11.19 -0.89%

Rating Summary:
    5 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 23 | New: 30
Trade INSY Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with's Dividend Insider Elite. Sign-up for a FREE trial here.

RBC Capital analyst, Randall Stanicky,reiterated his Outperform rating on shares of INSYS Therapeutics (NASDAQ: INSY) after a CEO succession plan announced.

INSY announced that the Board has initiated a search for a candidate to succeed President and CEO John Kapoor, who owns close to 70% of the company. It has put together a special committee of three independent Board members to conduct a search, and Dr. Kapoor will remain in the CEO role until a replacement is found. A reason for change was not given; in our view, it could be related to the ongoing DOJ investigation but that is not clear yet.

The price target drops to $26 from $32.

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 $13.27 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change, Management Changes, Management Comments

Related Entities

RBC Capital

Add Your Comment