Northland Securities upgraded shares of Intersect ENT (NASDAQ:XENT) from an under perform rating to a market perform rating in a research report released on Wednesday morning, AnalystRatings.com reports. The brokerage currently has $20.00 target price on the medical equipment provider’s stock.

“We are upgrading Intersect ENT to a Market Perform rating. We had downgraded the stock immediately after the Q1 report. The stock has reached our price target, hence the ratings change. We note though, the ratings change does not reflect a fundamental change in outlook, at least for now.”,” the firm’s analyst commented.

Other analysts have also recently issued reports about the stock. Berenberg Bank reaffirmed a buy rating and set a GBX 620 ($8.10) price objective on shares of in a research note on Friday, June 21st. BidaskClub raised shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, July 4th. ValuEngine cut shares of Intersect ENT from a buy rating to a hold rating in a research note on Monday. Svb Leerink cut shares of Intersect ENT from an outperform rating to a market perform rating and decreased their price objective for the stock from $41.00 to $29.00 in a research note on Tuesday, May 7th. Finally, Leerink Swann cut shares of Adaptimmune Therapeutics from an outperform rating to a market perform rating and set a $4.15 price objective on the stock. in a research note on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $30.39.

Intersect ENT stock traded down $0.44 during trading hours on Wednesday, hitting $20.72. 186,405 shares of the stock were exchanged, compared to its average volume of 365,386. The stock has a market capitalization of $647.42 million, a PE ratio of -27.26 and a beta of 0.80. Intersect ENT has a 12 month low of $20.69 and a 12 month high of $36.00. The stock has a 50-day moving average of $23.35.

Intersect ENT (NASDAQ:XENT) last issued its quarterly earnings data on Monday, May 6th. The medical equipment provider reported ($0.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.05). The firm had revenue of $26.70 million for the quarter, compared to the consensus estimate of $26.34 million. Intersect ENT had a negative return on equity of 22.90% and a negative net margin of 24.99%. Intersect ENT’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.21) earnings per share. On average, sell-side analysts anticipate that Intersect ENT will post -1.32 earnings per share for the current fiscal year.

In other news, insider Susan P. Stimson sold 2,663 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $30.00, for a total transaction of $79,890.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Lisa D. Earnhardt sold 29,588 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $28.43, for a total transaction of $841,186.84. The disclosure for this sale can be found here. Insiders have sold 77,951 shares of company stock worth $2,302,205 over the last three months. 6.50% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in XENT. NumerixS Investment Technologies Inc lifted its holdings in Intersect ENT by 43.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 2,200 shares of the medical equipment provider’s stock valued at $60,000 after buying an additional 662 shares during the period. Quantamental Technologies LLC lifted its holdings in Intersect ENT by 211.0% in the first quarter. Quantamental Technologies LLC now owns 1,950 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 1,323 shares during the period. Legal & General Group Plc lifted its holdings in Intersect ENT by 14.8% in the fourth quarter. Legal & General Group Plc now owns 5,353 shares of the medical equipment provider’s stock valued at $151,000 after buying an additional 690 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Intersect ENT by 62,220.0% in the first quarter. BNP Paribas Arbitrage SA now owns 6,232 shares of the medical equipment provider’s stock valued at $200,000 after buying an additional 6,222 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings in Intersect ENT by 15.0% in the first quarter. Meeder Asset Management Inc. now owns 6,443 shares of the medical equipment provider’s stock valued at $206,000 after buying an additional 839 shares during the period. 92.00% of the stock is currently owned by institutional investors and hedge funds.

Intersect ENT Company Profile

Intersect ENT, Inc, a drug delivery company, researches and develops products for the treatment of patients with ear, nose, and throat conditions in the United States. The company offers PROPEL and PROPEL mini drug releasing implants for patients undergoing sinus surgery to treat chronic sinusitis; and PROPEL Contour, a steroid releasing implant to frontal and maxillary sinus ostia, or openings, of the dependent sinuses.

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Analyst Recommendations for Intersect ENT (NASDAQ:XENT)

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