Zacks Investment Research Upgrades Intersect ENT, Inc. (XENT) to Hold
Zacks Investment Research upgraded shares of Intersect ENT, Inc. (NASDAQ:XENT) from a sell rating to a hold rating in a report published on Wednesday morning.
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. “
Several other brokerages also recently commented on XENT. Canaccord Genuity reaffirmed a buy rating on shares of Intersect ENT in a research report on Wednesday, May 3rd. Northland Securities lifted their price target on shares of Intersect ENT from $17.00 to $22.00 and gave the company an outperform rating in a research report on Thursday, May 4th. ValuEngine raised shares of Intersect ENT from a sell rating to a hold rating in a research report on Friday, June 2nd. Wedbush lifted their price target on shares of Intersect ENT from $25.00 to $26.00 and gave the company an outperform rating in a research report on Wednesday, May 3rd. Finally, BidaskClub downgraded shares of Intersect ENT from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $18.60.
Intersect ENT (XENT) opened at 27.25 on Wednesday. Intersect ENT has a 12-month low of $7.65 and a 12-month high of $29.55. The stock has a 50 day moving average of $27.47 and a 200 day moving average of $19.90. The firm’s market cap is $784.04 million.
Intersect ENT (NASDAQ:XENT) last announced its quarterly earnings data on Tuesday, May 2nd. The medical equipment provider reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.02. The company had revenue of $20.47 million during the quarter, compared to the consensus estimate of $19.39 million. Intersect ENT had a negative net margin of 28.71% and a negative return on equity of 20.49%. On average, equities research analysts anticipate that Intersect ENT will post ($0.74) EPS for the current fiscal year.
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In other news, insider Lisa D. Earnhardt sold 20,000 shares of Intersect ENT stock in a transaction on Monday, July 17th. The stock was sold at an average price of $29.03, for a total transaction of $580,600.00. Following the sale, the insider now directly owns 580,868 shares in the company, valued at approximately $16,862,598.04. The transaction was disclosed in a document filed 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 on Tuesday, July 25th. The stock was sold at an average price of $28.25, for a total value of $353,125.00. Following the sale, the chief operating officer now owns 169,821 shares in the company, valued at $4,797,443.25. The disclosure for this sale can be found here. Insiders have sold a total of 105,335 shares of company stock worth $2,721,580 over the last quarter. Company insiders own 13.70% of the company’s stock.
A number of large investors have recently made changes to their positions in XENT. Lebenthal Lisanti Capital Growth LLC purchased a new stake in shares of Intersect ENT during the second quarter worth about $693,000. Strs Ohio purchased a new stake in shares of Intersect ENT during the second quarter worth about $796,000. Hamilton Lane Advisors LLC purchased a new stake in shares of Intersect ENT during the second quarter worth about $1,022,000. Personal Capital Advisors Corp purchased a new stake in shares of Intersect ENT during the second quarter worth about $273,000. Finally, Boston Advisors LLC boosted its stake in shares of Intersect ENT by 44.4% in the second quarter. Boston Advisors LLC now owns 40,553 shares of the medical equipment provider’s stock worth $1,133,000 after buying an additional 12,463 shares in the last quarter. Institutional investors and hedge funds own 76.12% of the company’s stock.
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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