|Bid||0.0000 x 800|
|Ask||0.0000 x 1400|
|Day's Range||0.8608 - 0.9488|
|52 Week Range||0.8200 - 11.6500|
|Beta (3Y Monthly)||3.03|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 6, 2019 - Aug 12, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||8.00|
For the first time ever, U.S. attorneys say they have successfully prosecuted a top pharmaceutical executive in the government's fight against opioids. A federal jury on Thursday convicted Insys Therapeutics founder John Kapoor and four other former executives of the company. Prosecutors accused them of bribing doctors to prescribe a highly addictive fentanyl spray called Subsys. Anna Werner reports.
You may be surprised to hear this, but a large amount of short interest in a stock could actually be a buy signal.What is short selling a stock? It's selling a stock that you don't own with the intention of buying it back at a lower price in the future, usually using options. And short interest is the number of shares that are sold short that haven't been bought back yet. It is usually expressed as a ratio of shares that are short to the total number of outstanding shares.The short interest can also be expressed as "Days to Cover." This is the number of short shares divided by the average daily trading volume. In other words, it is the number of days that it would take for all the short shares to be bought back.InvestorPlace - Stock Market News, Stock Advice & Trading TipsI should note, this number should be considered understated, because it assumes purchasing 100% of the volume. This would be impossible in normal markets. It would be more realistic to assume that short sellers could only buy about 10%-15% of the average daily volume with adversely affecting the price. * 7 Safe Stocks to Buy for Anxious Investors You should pay attention to this because really high short-interest could be a bullish signal. This is because these shares need to be bought back. These short-sellers will all eventually become buyers! Trupanion (TRUP)Trupanion (NASDAQ:TRUP) provides medical insurance for cats and dogs. It has a subscription business and also offers insurance to companies that can provide it as a benefit to their employees.There are about 11.2 million shares currently short. This is 38% of the outstanding float. The average daily volume recently is about 145,000. That means the days to cover would be about 77. And remember, that assumes buying 100% of the volume.It would be more realistic to assume that one could only trade about 10% of the volume without adversely affecting the price. That means it could take years for the shorts to cover all of their positions!Wall Street seems to disagree with the shorts. Six firms follow it and the all have buy ratings on it. The average price target is $40. Accelerate Diagnostics (AXDX)Accelerate Diagnostics (NASDAQ:AXDX) engages in developing and selling instruments that are used to fight infectious pathogens.There are 14.1 million shares currently short in this company. That is 52% of the float. That means that there are guaranteed buyers for about half of the company's stock! Assuming that they buy 10% of the average daily volume, it would take about two years to cover it. * 7 Stocks to Buy for Over 20% Upside Potential All four of the analysts who cover this have a buy rating on it according to Yahoo Finance. OptiNose (OPTN)OptiNose (NASDAQ:OPTN) develops and sells products that are for the treatment of ear, nose, throat and allergy illnesses.The short-interest is 7.9 million, or about 49% of the float. Over the past year, the price of the stock has fallen from $30 to current levels around $9.Wall Street doesn't feel as bad about this company's prospects as the short sellers do. It likes this stock. All four analysts that follow it have it rated as a buy and the average target price is $25. That is about three times higher then where it is currently trading. Energy Recovery (ERII)Energy Recovery (NASDAQ:ERII) develops and sells products that are for industrial fluid flow application. Their customers include oil and gas companies.5.5 million shares are currently short. That is about 14% of the float. It isn't as much as the other companies, but it is still pretty high. It only trades about 112,000 on a typical day, so that would give a days to cover number of about 50. Using our estimate of being able to only acquire about 10%-15% of the volume that trades with adversely affecting the price, it would take over a year to cover. * 7 High-Yield REITs to Buy (Even When the Market Tanks) There are six buys on this company. The average target price is about $16, which is about 60% above current prices. Seres Therapeutics (MCRB)Seres Therapeutics (NASDAQ:MCRB) creates medicines "using live bacteria to treat diseases that result from functional deficiencies in the microbiome."The share price fell dramatically over the past month. The current short interest is 5.3 million of the float. That is about 25%. With an average daily volume of about 111,000, the days to cover is 48.This company is followed by nine Wall Street firms. Seven have it rated as a buy and the other two have it as a hold. The average target price is $11 and it is currently trading below $5. Theravance Biopharma (TBPH)Theravance Biopharma (NASDAQ:TBPH) is a biopharmaceutical company. It focuses and the research, development and commercialization of small molecule medicines.The short-interest ratio here is "only" 15%, or 6.3 million shares. The stock only trades about 154,000 shares on a typical day, so that is 41 days to cover.Remember, it is safe to assume that they can buy about 10% of the volume without adversely affecting the price. * 6 Chinese Stocks That Could Pop On a Trade Deal Seven firms follow this company. Four of them have it rated a buy and three have it as a sell. The average target price is just over $38 per share.As of this writing, Mark Putrino did not hold a position in any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Safe Stocks to Buy for Anxious Investors * 4 Tech Stocks Looking Vulnerable * Should You Buy, Sell, Or Hold These 7 Hot IPO Stocks? Compare Brokers The post You Can Get Buy Signals From Short Selling appeared first on InvestorPlace.
Biotech stocks came under pressure this week along with the broader market, which succumbed to the negative sentiment generated by U.S.-China trade tensions. However, they recouped some of these losses, ...
The pharmaceutical firm saw its stock plummet earlier this week after announcing it may have to seek Chapter 11 protection.
Why Insys Therapeutics Fell More than 70% YesterdayLiquidity positionIn its first-quarter earnings press release, which it published on May 10, Insys Therapeutics (INSY) highlighted the possibility of its being unable to continue as a going concern.
A Boston jury convicted Insys founder John Kapoor and four former executives of racketeering and other crimes in a fentanyl bribery case that federal prosecutors say helped fuel the U.S. opioid epidemic. Insys Therapeutics INSY shares tanked Monday morning after the company said it may have to file for bankruptcy because it can't afford legal costs related to a Department of Justice investigation into the company's sales tactics of one of its popular opioids. Insys said it had $87.6 million in cash and cash equivalents at the end of March, which falls short of the $150 million tentative settlement the company made with the Department of Justice to settle claims that the company bribed doctors to unnecessarily prescribe its fentanyl-based drug Subsys, which is meant to treat cancer patients.
“These factors raise substantial doubt about the company’s ability to continue as a going concern,” Insys said in a statement. Insys said last year Kapoor’s defense alone had cost the company $28 million so far.
The company also said it was uncertain that it will be able to complete a final settlement with the Department of Justice, including the execution of a security agreement related to the company's assets to collateralize payments under the settlement. "If we are unable to continue as a going concern, we may have to liquidate our assets and may receive less than the value at which those assets are carried on our audited consolidated financial statements, and it is likely that investors will lose all or a part of their investment," the company said in its first-quarter earnings release. Insys added: "It may be necessary for the company to file a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in order to implement a restructuring.
Shares of Insys Therapeutics Inc. plunged 70% Monday morning, a fall sparked by the biotech's Friday disclosure that mounting legal expenses and declines in the market for fast-acting fentanyl could lead it to file for bankruptcy. Insys said on Friday it was uncertain of its ability to complete a final settlement with the U.S. Justice Department to resolve an investigation into sales practices related to its fentanyl spray Subsys -- Insys reached a deal last August to pay at least $150 million to settle claims that it paid doctors kickbacks to prescribe the drug. The company also disclosed that it had just $87.6 million in cash, cash equivalents and investments at the end of March and expected continued negative cash flows from its operations. "These factors raise substantial doubt about the company's ability to continue as a going concern within one year of the issuance date of the unaudited condensed consolidated financial statements," the company said in a statement Friday. "If we are unable to continue as a going concern, we may have to liquidate our assets and may receive less than the value at which those assets are carried on our audited consolidated financial statements, and it is likely that investors will lose all or a part of their investment." Insys is also looking at a way to sell or license its assets. If it can't find a way to do that, or if the company is unable to reach an agreement with the Justice Department, its "liquidity, financial condition and business prospects will be materially and adversely affected. Accordingly, it may be necessary for the company to file a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in order to implement a restructuring," Insys said. Earlier this month, a federal jury in Boston convicted five former executives and managers, including co-founder John Kapoor, of engaging in a racketeering conspiracy to bribe doctors to prescribe Subsys in order to boost profits. The company's first-quarter revenue fell to $7.63 million from $23.91 million, while net loss widened to $123.8 million after a loss of $20.37 million a year ago. The beleaguered biotech reported an adjusted loss of 55 cents a share on Friday, missing FactSet analysts' prediction of a loss of 22 cents. Shares of Insys have fallen 69% so far this year, while the S&P 500 has gained 13%.
Insys, which has been exploring strategic options and is in talks to divest its opioid product Subsys, said it was likely that investors will lose all or a part of their investments if the company is not able to sell its assets at the value they are booked in its audited financial statements. Last August, Insys reached a tentative deal to pay at least $150 million to resolve a Department of Justice investigation into claims that the drugmaker paid doctors kickbacks to prescribe Subsys, an under-the-tongue spray that contains fentanyl, an opioid 100 times stronger than morphine.
Insys Therapeutics (INSY) delivered earnings and revenue surprises of -323.08% and -48.96%, respectively, for the quarter ended March 2019. Do the numbers hold clues to what lies ahead for the stock?
On a per-share basis, the Chandler, Arizona-based company said it had a loss of $1.66. Losses, adjusted for one-time gains and costs, were 55 cents per share. The specialty pharmaceutical company posted ...
Company Continues to Execute Against Pipeline-Focused StrategyNew Drug Application Submitted for Proprietary Naloxone Nasal Spray FormulationCompany Provides Liquidity Update.
The cannabis industry has grown in recent months and years, and many companies in the cannabis and health-related industries have been uplisted to reputable U.S. exchanges. Learn about the marijuana stocks on the Nasdaq.
John Kapoor and four other Insys Therapeutics Inc (NASDAQ:INSY) executives were found guilty of bribery in a racketeering case involving Fentanyl, the strongest opioid known to man. The jury presiding over the case came to a guilty verdict over the accusations presented against the Insys executives who include Kapoor, its founder and former director of […]The post Insys Executives Found Guilty Of Bribing Doctors In Fentanyl Case appeared first on Market Exclusive.
A pharmaceutical company founder accused of paying doctors millions in bribes to prescribe a highly addictive fentanyl spray was convicted Thursday in a case that exposed such marketing tactics as using a stripper-turned-sales-rep to give a physician a lap dance.
The founder of Insys Therapeutics Inc on Thursday became the highest-ranking pharmaceutical executive to be convicted in a case tied to the U.S. opioid crisis, when he and four colleagues were found guilty of participating in a scheme to bribe doctors to prescribe an addictive painkiller. A federal jury in Boston found John Kapoor, the drugmaker's former chairman, and his co-defendants guilty of racketeering conspiracy for engaging in a scheme that also misled insurers into paying for the drug. Kapoor's 2017 arrest came on the same day U.S. President Donald Trump declared the epidemic that has caused tens of thousands of overdose deaths annually a public health emergency.
Federal jurors in Boston found that Kapoor conspired with four other executives to bribe doctors to pump up sales of Subsys and duped insurers into covering shady prescriptions. Former vice president Michael Gurry, ex-national sales director Richard Simon, former regional sales director Joseph Rowan, and one-time stripper turned Insys sales manager Sunrise Lee were also found guilty.
The founder of Insys Therapeutics Inc on Thursday became the highest-ranking drugmaker executive convicted in a case tied to the U.S. opioid crisis, when he and four colleagues were found guilty of bribing doctors to prescribe an addictive painkiller, helping drive the epidemic. A federal jury in Boston found John Kapoor, 75, the drugmaker's former chairman, and his co-defendants guilty of racketeering conspiracy for a scheme that also misled insurers into paying for the drug. Kapoor's 2017 arrest came on the same day U.S. President Donald Trump declared the epidemic that has caused tens of thousands of overdose deaths annually a public health emergency.
A federal jury in Boston convicted ex-CEO Kapoor and his co-defendants after 15 days of deliberation, Reuters reported. Prosecutors charged that Kapoor oversaw a scheme to bribe doctors by retaining them to act as speakers at sham events at restaurants ostensibly meant to educate clinicians about the company's fentanyl spray, Subsys. While Subsys was approved in 2012 only for use in treating severe pain in cancer patients, prosecutors claimed doctors who took bribes often prescribed Subsys to patients without cancer, helping boost sales for Insys.
A Boston jury convicted Insys Therapeutics founder John Kapoor and several other executives of racketeering and other crimes in a fentanyl bribery case that federal prosecutors say helped fuel the U.S. opioid epidemic.
Jurors on Thursday said they had reached a verdict in the trial of the founder of Insys Therapeutics Inc and four colleagues accused of bribing doctors to prescribe an addictive painkiller, helping to ...