Wells Fargo Starts INSYS Therapeutics (INSY) at Outperform

July 31, 2013 9:09 AM EDT
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Price: $10.08 --0%

Rating Summary:
    5 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 15 | Down: 17 | New: 10
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Wells Fargo initiates coverage on INSYS Therapeutics (NASDAQ: INSY) with an Outperform rating and a price target of $19-$21. Analyst Michael Faerm sees strong organic growth for Subsys.

"We believe that the company’s lead product, Subsys, is at the early stages of a multiyear organic growth ramp and will drive earnings leverage, due to the company's focused commercialization infrastructure," said Faerm.

"The company is close to filing a New Drug Application (NDA) for its second differentiated product opportunity, Dronabinol OS, which could enter the market next year. INSY's sublingual spray device technology used in Subsys can potentially be leveraged into longer term pipeline candidates, which we view as a free option," he added.

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 $16.05 yesterday.

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