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

September 22, 2016 6:10 AM EDT
Get Alerts INSY Hot Sheet
Price: $10.00 -1.77%

Rating Summary:
    5 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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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.

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