Intersect ENT Inc. (NASDAQ:XENT) Receives $23.00 Consensus Price Target from Analysts
Shares of Intersect ENT Inc. (NASDAQ:XENT) have been given an average recommendation of “Buy” by the ten research firms that are covering the stock. Three investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $22.25.
A number of equities analysts have commented on the company. Deutsche Bank AG assumed coverage on Intersect ENT in a research note on Thursday. They issued a “hold” rating and a $17.00 price target on the stock. Wedbush reissued an “outperform” rating and set a $25.00 target price on shares of Intersect ENT in a research note on Friday, September 23rd. Piper Jaffray Cos. reissued an “overweight” rating and set a $21.00 target price on shares of Intersect ENT in a research note on Friday, August 26th. Zacks Investment Research cut Intersect ENT from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Finally, Canaccord Genuity reissued a “buy” rating and set a $20.00 target price on shares of Intersect ENT in a research note on Thursday, August 4th.
In other Intersect ENT news, VP Amy Wolbeck sold 28,664 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $286,143.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James Stambaugh sold 3,977 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was 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 directly 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 company. UBS Asset Management Americas Inc. increased 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 during the period. Royce & Associates LP increased 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 during the period. Granite Point Capital Management L.P. bought a new stake in Intersect ENT during the second quarter valued at approximately $1,053,000. Emerald Acquisition Ltd. bought a new stake in Intersect ENT during the second quarter valued at approximately $552,000. Finally, Swiss National Bank increased its stake in Intersect ENT by 17.7% in the second quarter. Swiss National Bank now owns 34,600 shares of the company’s stock valued at $447,000 after buying an additional 5,200 shares during the period. 77.80% of the stock is currently owned by institutional investors and hedge funds.
Intersect ENT (NASDAQ:XENT) opened at 16.23 on Tuesday. The company’s market capitalization is $461.81 million. The firm’s 50 day moving average price is $15.52 and its 200-day moving average price is $15.49. Intersect ENT has a 12-month low of $11.88 and a 12-month high of $23.00.
Intersect ENT (NASDAQ:XENT) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.21) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.05. The business had revenue of $19.30 million for 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 quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.23) EPS. On average, equities analysts anticipate that Intersect ENT will post ($0.96) earnings per share for the current fiscal year.
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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