Intersect ENT (NASDAQ:XENT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.

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. “

A number of other analysts have also recently commented on the stock. BidaskClub cut shares of Intersect ENT from a “hold” rating to a “sell” rating in a research report on Wednesday, December 20th. JPMorgan Chase & Co. raised shares of Intersect ENT from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 2nd. Canaccord Genuity reaffirmed a “buy” rating and set a $36.00 price target on shares of Intersect ENT in a research report on Monday, December 11th. Guggenheim reaffirmed a “buy” rating and set a $41.00 price target on shares of Intersect ENT in a research report on Friday, December 15th. Finally, Northland Securities reaffirmed a “hold” rating and set a $25.00 price target on shares of Intersect ENT in a research report on Friday, November 3rd. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Intersect ENT currently has an average rating of “Buy” and a consensus target price of $33.38.

Shares of Intersect ENT (NASDAQ XENT) traded up $0.65 on Friday, reaching $36.85. 202,649 shares of the company’s stock were exchanged, compared to its average volume of 283,198. The company has a market capitalization of $1,045.69, a PE ratio of -58.49 and a beta of 0.67. Intersect ENT has a twelve month low of $12.50 and a twelve month high of $37.45.

Intersect ENT (NASDAQ:XENT) last issued its quarterly earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.05. The business had revenue of $22.31 million for the quarter, compared to analysts’ expectations of $21.53 million. Intersect ENT had a negative net margin of 19.81% and a negative return on equity of 15.96%. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.22) earnings per share. research analysts forecast that Intersect ENT will post -0.63 earnings per share for the current fiscal year.

In other news, COO Richard E. Kaufman sold 50,000 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $33.33, for a total transaction of $1,666,500.00. Following the transaction, the chief operating officer now owns 107,470 shares of the company’s stock, valued at approximately $3,581,975.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lisa D. Earnhardt sold 10,685 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $31.87, for a total transaction of $340,530.95. Following the transaction, the insider now directly owns 487,868 shares in the company, valued at approximately $15,548,353.16. The disclosure for this sale can be found here. Insiders have sold a total of 178,052 shares of company stock worth $5,703,820 in the last three months. Insiders own 13.70% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in XENT. FMR LLC boosted its position in shares of Intersect ENT by 247.7% during the 2nd quarter. FMR LLC now owns 1,482,909 shares of the medical equipment provider’s stock worth $41,447,000 after purchasing an additional 1,056,389 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Intersect ENT by 22.4% during the 4th quarter. Jennison Associates LLC now owns 2,036,202 shares of the medical equipment provider’s stock worth $65,973,000 after purchasing an additional 372,320 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Intersect ENT during the 2nd quarter worth about $9,384,000. State Street Corp boosted its position in shares of Intersect ENT by 33.6% during the 2nd quarter. State Street Corp now owns 552,344 shares of the medical equipment provider’s stock worth $15,437,000 after purchasing an additional 138,968 shares in the last quarter. Finally, Numeric Investors LLC boosted its position in shares of Intersect ENT by 311.1% during the 2nd quarter. Numeric Investors LLC now owns 118,000 shares of the medical equipment provider’s stock worth $3,298,000 after purchasing an additional 89,300 shares in the last quarter. 86.35% of the stock is currently owned by institutional investors.

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Intersect ENT Company Profile

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.

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Analyst Recommendations for Intersect ENT (NASDAQ:XENT)

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