A number of other brokerages have also recently weighed in on XENT. Zacks Investment Research cut Intersect ENT from a buy rating to a hold rating in a research report on Wednesday, August 10th. Wedbush reiterated an outperform rating and issued a $25.00 price objective on shares of Intersect ENT in a research note on Wednesday, August 3rd. Piper Jaffray Cos. reiterated an overweight rating and issued a $21.00 price objective on shares of Intersect ENT in a research note on Friday, August 26th. BTIG Research initiated coverage on Intersect ENT in a research note on Tuesday, July 12th. They issued a neutral rating on the stock. Finally, Canaccord Genuity reiterated a buy rating on shares of Intersect ENT in a research note on Monday, July 18th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $22.00.
Intersect ENT (NASDAQ:XENT) traded down 3.19% on Tuesday, reaching $16.70. The company’s stock had a trading volume of 71,593 shares. The stock’s 50 day moving average is $15.80 and its 200-day moving average is $15.43. Intersect ENT has a 52 week low of $11.88 and a 52 week high of $23.00. The firm’s market capitalization is $475.18 million.
Intersect ENT (NASDAQ:XENT) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.05. The firm earned $19.30 million during the quarter, compared to analysts’ expectations of $18.91 million. Intersect ENT had a negative return on equity of 23.31% and a negative net margin of 42.97%. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.23) earnings per share. Analysts predict that Intersect ENT will post ($0.96) EPS for the current year.
In other news, VP Amy Wolbeck sold 28,664 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $15.83, for a total value of $453,751.12. Following the sale, the vice president now directly owns 18,076 shares in the company, valued at approximately $286,143.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP James Stambaugh sold 3,977 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $17.00, for a total value of $67,609.00. Following the completion of the sale, the vice president now owns 27,977 shares in the company, valued at $475,609. The disclosure for this sale can be found here. Corporate insiders own 13.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd bought a new stake in Intersect ENT during the second quarter valued at $179,000. Vanguard Group Inc. raised its stake in Intersect ENT by 3.7% in the second quarter. Vanguard Group Inc. now owns 848,804 shares of the company’s stock valued at $10,975,000 after buying an additional 30,105 shares in the last quarter. Welch Capital Partners LLC NY bought a new stake in Intersect ENT during the second quarter valued at $854,000. UBS Asset Management Americas Inc. raised its stake in Intersect ENT by 56.8% in the second quarter. UBS Asset Management Americas Inc. now owns 422,368 shares of the company’s stock valued at $5,461,000 after buying an additional 153,028 shares in the last quarter. Finally, Royce & Associates LP raised its stake in Intersect ENT by 52.3% in the second quarter. Royce & Associates LP now owns 533,800 shares of the company’s stock valued at $6,902,000 after buying an additional 183,400 shares in the last quarter. Institutional investors own 77.81% 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.
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