Intersect ENT Inc. (NASDAQ:XENT) has been given a consensus rating of “Buy” by the ten brokerages that are currently covering the firm. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $22.25.
Several research analysts have weighed in on the stock. Deutsche Bank AG assumed coverage on shares of Intersect ENT in a research note on Thursday. They issued a “hold” rating and a $17.00 price objective on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $20.00 price objective on shares of Intersect ENT in a research note on Thursday, August 4th. Wedbush reissued an “outperform” rating and issued a $25.00 target price on shares of Intersect ENT in a research report on Wednesday, August 3rd. Zacks Investment Research downgraded shares of Intersect ENT from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Finally, BTIG Research assumed coverage on shares of Intersect ENT in a research report on Tuesday, July 12th. They issued a “neutral” rating for the company.
In other Intersect ENT news, VP Amy Wolbeck sold 28,664 shares of the stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $15.83, for a total value of $453,751.12. Following the completion of the sale, the vice president now directly owns 18,076 shares of the company’s stock, valued at approximately $286,143.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP James Stambaugh sold 3,977 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $17.00, for a total transaction of $67,609.00. Following the completion of the sale, the vice president now directly owns 27,977 shares of the company’s stock, valued at $475,609. The disclosure for this sale can be found here. Corporate insiders own 13.90% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Pacad Investment Ltd. bought a new stake in shares of Intersect ENT during the second quarter worth $116,000. HighTower Advisors LLC bought a new stake in shares of Intersect ENT during the second quarter worth $134,000. Acadian Asset Management LLC bought a new stake in shares of Intersect ENT during the second quarter worth $142,000. BlackRock Inc. increased its stake in shares of Intersect ENT by 1,189.1% in the second quarter. BlackRock Inc. now owns 13,020 shares of the company’s stock worth $168,000 after buying an additional 12,010 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Intersect ENT during the second quarter worth $179,000. 77.80% of the stock is owned by hedge funds and other institutional investors.
Shares of Intersect ENT (NASDAQ:XENT) opened at 16.23 on Tuesday. Intersect ENT has a 52-week low of $11.88 and a 52-week high of $23.00. The stock’s market cap is $461.81 million. The company’s 50-day moving average price is $15.52 and its 200-day moving average price is $15.49.
Intersect ENT (NASDAQ:XENT) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.21) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.05. The firm had revenue of $19.30 million for the quarter, compared to analyst estimates of $18.91 million. Intersect ENT had a negative net margin of 42.97% and a negative return on equity of 23.31%. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.23) EPS. On average, equities research analysts forecast that Intersect ENT will post ($0.96) earnings per share for the current fiscal year.
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. 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.
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