Several other brokerages have also recently issued reports on XENT. Canaccord Genuity restated a buy rating and issued a $20.00 price target on shares of Intersect ENT in a research report on Thursday, August 4th. BTIG Research restated a hold rating and issued a $14.00 price target on shares of Intersect ENT in a research report on Thursday, August 4th. Piper Jaffray Cos. restated an overweight rating and issued a $21.00 price target on shares of Intersect ENT in a research report on Friday, August 26th. Finally, Zacks Investment Research upgraded shares of Intersect ENT from a hold rating to a buy rating and set a $17.00 price target for the company in a research report on Saturday, August 6th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Intersect ENT presently has a consensus rating of Buy and an average price target of $24.00.
Intersect ENT (NASDAQ:XENT) opened at 16.23 on Friday. The firm’s market cap is $461.81 million. Intersect ENT has a 52-week low of $11.88 and a 52-week high of $23.75. The company has a 50-day moving average of $15.22 and a 200 day moving average of $15.51.
Intersect ENT (NASDAQ:XENT) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.05. Intersect ENT had a negative net margin of 42.97% and a negative return on equity of 23.31%. The firm earned $19.30 million during the quarter, compared to analysts’ expectations of $18.91 million. During the same period in the prior year, the company posted ($0.23) EPS. The company’s revenue was up 27.0% on a year-over-year basis. On average, equities research analysts anticipate that Intersect ENT will post ($0.96) EPS for the current year.
In related 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 transaction of $453,751.12. Following the transaction, the vice president now directly owns 18,076 shares of the company’s stock, valued at $286,143.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP James Stambaugh sold 5,000 shares of the stock in a transaction on Monday, July 18th. The stock was sold at an average price of $15.33, for a total transaction of $76,650.00. Following the transaction, the vice president now directly owns 29,000 shares in the company, valued at $444,570. The disclosure for this sale can be found here. Corporate insiders own 13.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Pacad Investment Ltd. bought a new position in shares of Intersect ENT during the second quarter valued at about $116,000. BlackRock Group LTD raised its position in shares of Intersect ENT by 60.8% in the first quarter. BlackRock Group LTD now owns 6,305 shares of the company’s stock valued at $120,000 after buying an additional 2,385 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of Intersect ENT during the second quarter valued at about $134,000. Acadian Asset Management LLC bought a new position in shares of Intersect ENT during the second quarter valued at about $142,000. Finally, BlackRock Inc. raised its position 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 valued at $168,000 after buying an additional 12,010 shares in the last quarter. 77.80% of the stock is currently owned by institutional investors and hedge funds.
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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