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Fly News Breaks for April 12, 2016
INSY
Apr 12, 2016 | 07:18 EDT
Jefferies analyst David Steinberg cut his price target for Insys Therapeutics to $17 from $23 saying the company's Q1 Subsys revenue outlook came in worse than expected. Scrutiny on opioid prescribing has impacted physician behavior, suggesting the outlook for the drug is "modest at best," Steinberg tells investors in a research note. He views Syndros approval as the next key catalyst for Insys shares and keeps a Buy rating on the name.
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