Intersect ENT, Inc. (NASDAQ:XENT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm presently has a $33.00 price target on the medical equipment provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 7.67% from the stock’s current price.

According to Zacks, “Intersect ENT, Inc. is a commercial drug-device company. The Company’s initial products, PROPEL and PROPEL mini, are drug-eluting implants for use in patients with chronic sinusitis. It offers products and therapies for ear, nose, and throat surgeons to improve treatment for their patients with chronic diseases. Intersect ENT, Inc. is headquartered in Menlo Park, California. “

Other research analysts have also recently issued reports about the stock. BidaskClub cut shares of Intersect ENT from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. TheStreet raised shares of Intersect ENT from a “d” rating to a “c-” rating in a research report on Tuesday, August 1st. Deutsche Bank AG set a $31.00 price target on shares of Intersect ENT and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Canaccord Genuity reaffirmed a “buy” rating and set a $32.00 price target on shares of Intersect ENT in a research report on Wednesday, August 2nd. Finally, Northland Securities reaffirmed a “hold” rating and set a $25.00 price target on shares of Intersect ENT in a research report on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Intersect ENT has an average rating of “Buy” and a consensus target price of $27.70.

Shares of Intersect ENT (NASDAQ:XENT) opened at 30.65 on Thursday. Intersect ENT has a 52 week low of $7.65 and a 52 week high of $33.25. The stock’s market capitalization is $894.64 million. The company’s 50-day moving average is $30.45 and its 200 day moving average is $25.68.

Intersect ENT (NASDAQ:XENT) last announced its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.11. The firm had revenue of $24.00 million for the quarter, compared to analysts’ expectations of $22.62 million. Intersect ENT had a negative net margin of 22.94% and a negative return on equity of 17.60%. Intersect ENT’s revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.21) earnings per share. On average, equities analysts forecast that Intersect ENT will post ($0.61) EPS for the current fiscal year.

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In other news, COO Richard E. Kaufman sold 22,425 shares of Intersect ENT stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $30.22, for a total transaction of $677,683.50. Following the sale, the chief operating officer now owns 149,821 shares in the company, valued at $4,527,590.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Richard E. Kaufman sold 12,500 shares of Intersect ENT stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $28.25, for a total transaction of $353,125.00. Following the sale, the chief operating officer now owns 169,821 shares in the company, valued at approximately $4,797,443.25. The disclosure for this sale can be found here. Insiders have sold 159,898 shares of company stock worth $4,730,084 in the last quarter. Insiders own 13.70% of the company’s stock.

Large investors have recently modified their holdings of the stock. Legal & General Group Plc increased its stake in shares of Intersect ENT by 3.8% in the second quarter. Legal & General Group Plc now owns 6,939 shares of the medical equipment provider’s stock worth $193,000 after buying an additional 255 shares during the last quarter. Moors & Cabot Inc. bought a new stake in shares of Intersect ENT in the second quarter worth $205,000. Cubist Systematic Strategies LLC bought a new stake in shares of Intersect ENT in the second quarter worth $229,000. Prudential Financial Inc. bought a new stake in shares of Intersect ENT in the second quarter worth $229,000. Finally, HighTower Advisors LLC bought a new stake in shares of Intersect ENT in the second quarter worth $231,000. Institutional investors and hedge funds own 83.12% of the company’s stock.

About Intersect ENT

Intersect ENT, Inc is a commercial-stage drug-device company. The Company develops drugs for patients with ear, nose and throat (ENT) conditions. The Company has developed a drug releasing bioabsorbable implant technology that enables targeted and sustained release of therapeutic agents. This targeted drug delivery technology is designed to allow ENT physicians to manage patient care.

Analyst Recommendations for Intersect ENT (NASDAQ:XENT)

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