Zacks Investment Research upgraded shares of Intersect ENT Inc. (NASDAQ:XENT) from a sell rating to a hold rating in a report released on Tuesday 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. “
Other equities research analysts have also issued reports about the company. Canaccord Genuity set a $20.00 target price on Intersect ENT and gave the stock a buy rating in a research report on Wednesday, November 2nd. Deutsche Bank AG set a $17.00 target price on Intersect ENT and gave the stock a hold rating in a research report on Tuesday, October 18th. BTIG Research reaffirmed a hold rating and set a $14.00 target price on shares of Intersect ENT in a research report on Thursday, August 4th. JPMorgan Chase & Co. lowered Intersect ENT from an overweight rating to a neutral rating and cut their target price for the stock from $25.00 to $16.00 in a research report on Wednesday, November 2nd. Finally, Leerink Swann reaffirmed an outperform rating and set a $14.00 target price (down from $21.00) on shares of Intersect ENT in a research report on Friday, November 4th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Intersect ENT has a consensus rating of Buy and a consensus target price of $20.45.
Intersect ENT (NASDAQ:XENT) opened at 12.65 on Tuesday. Intersect ENT has a 12-month low of $7.65 and a 12-month high of $23.00. The stock has a 50 day moving average price of $15.01 and a 200-day moving average price of $14.84. The stock’s market capitalization is $361.33 million.
Intersect ENT (NASDAQ:XENT) last announced its earnings results on Wednesday, November 2nd. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. The company had revenue of $18.50 million for the quarter, compared to analyst estimates of $17.80 million. Intersect ENT had a negative return on equity of 21.25% and a negative net margin of 35.69%. Intersect ENT’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.35) earnings per share. Equities research analysts expect that Intersect ENT will post ($0.92) EPS for the current year.
In other news, VP Amy Wolbeck sold 28,664 shares of Intersect ENT stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $15.83, for a total transaction of $453,751.12. Following the transaction, the vice president now owns 18,076 shares in the company, valued at $286,143.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP James Stambaugh sold 4,000 shares of Intersect ENT stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $16.00, for a total value of $64,000.00. Following the transaction, the vice president now owns 23,700 shares in the company, valued at approximately $379,200. The disclosure for this sale can be found here. Insiders own 13.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Advisors LLC increased its position in shares of Intersect ENT by 112.5% in the second quarter. BlackRock Advisors LLC now owns 17,748 shares of the company’s stock worth $229,000 after buying an additional 9,396 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Intersect ENT during the second quarter worth $179,000. Vanguard Group Inc. increased its position in shares of Intersect ENT by 3.7% in the second quarter. Vanguard Group Inc. now owns 848,804 shares of the company’s stock worth $10,975,000 after buying an additional 30,105 shares in the last quarter. Welch Capital Partners LLC NY acquired a new position in shares of Intersect ENT during the second quarter worth $854,000. Finally, UBS Asset Management Americas Inc. increased its position in shares of Intersect ENT by 56.8% in the second quarter. UBS Asset Management Americas Inc. now owns 422,368 shares of the company’s stock worth $5,461,000 after buying an additional 153,028 shares in the last quarter. Institutional investors and hedge funds own 77.05% 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. It has developed a drug releasing bio-absorbable implant technology that enables targeted and sustained release of therapeutic agents. Its commercial products are the PROPEL and PROPEL mini drug-releasing implants for patients undergoing sinus surgery to treat chronic sinusitis.