Insys Therapeutics (INSY): Pipeline Progressing - RBC
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RBC Capital analyst, Randall Stanicky, reiterated his Sector Perform rating on shares of INSYS Therapeutics (NASDAQ: INSY) and cut his price target to $23 (from $26) after the company reported an uneventful 3Q with the focus of the call heavily geared towards pipeline, where it sees a number of near-term catalysts.
The analyst revisited his estimates with a more conservative view on Subsys and pushed out Syndros into mid-2Q given uncertainty around launch timing. This delay in profit recognition, pressures the price target down to $23 but leaves the analyst with an Outperform rating.
Shares of INSYS Therapeutics closed at $10.02 yesterday.
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