Zacks Investment Research Upgrades Intersect ENT, Inc. (XENT) to Buy

Zacks Investment Research upgraded shares of Intersect ENT, Inc. (NASDAQ:XENT) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. The brokerage currently has $33.00 target price on the medical equipment provider’s stock.

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. “

XENT has been the subject of a number of other reports. Bank of America Corporation raised their price target on Intersect ENT from $33.00 to $40.00 and gave the stock a buy rating in a research note on Monday, September 11th. Canaccord Genuity raised their price target on Intersect ENT from $32.00 to $37.00 and gave the stock a buy rating in a research note on Wednesday, September 13th. BidaskClub downgraded Intersect ENT from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Piper Jaffray Companies reaffirmed a buy rating and set a $35.00 price target on shares of Intersect ENT in a research note on Tuesday, August 22nd. Finally, Northland Securities reaffirmed a hold rating and set a $25.00 price target on shares of Intersect ENT in a research note on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $27.70.

Shares of Intersect ENT (NASDAQ:XENT) opened at 30.65 on Thursday. The firm’s market cap is $894.64 million. Intersect ENT has a 52-week low of $7.65 and a 52-week high of $33.25. The company’s 50-day moving average is $30.45 and its 200-day moving average is $25.68.

Intersect ENT (NASDAQ:XENT) last posted its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.11. Intersect ENT had a negative return on equity of 17.60% and a negative net margin of 22.94%. The company had revenue of $24.00 million during the quarter, compared to the consensus estimate of $22.62 million. During the same period last year, the business earned ($0.21) EPS. The business’s quarterly revenue was up 24.4% on a year-over-year basis. Equities research analysts forecast that Intersect ENT will post ($0.61) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Zacks Investment Research Upgrades Intersect ENT, Inc. (XENT) to Buy” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece of content on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark laws. The legal version of this piece of content can be accessed at https://ledgergazette.com/2017/10/09/zacks-investment-research-upgrades-intersect-ent-inc-xent-to-buy.html.

In related news, CFO Jeryl L. Hilleman sold 12,833 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $29.00, for a total value of $372,157.00. Following the transaction, the chief financial officer now directly owns 27,833 shares of the company’s stock, valued at approximately $807,157. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Richard E. Kaufman sold 22,425 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $30.22, for a total value of $677,683.50. Following the completion of the transaction, the chief operating officer now directly owns 149,821 shares in the company, valued at $4,527,590.62. The disclosure for this sale can be found here. Insiders sold a total of 147,063 shares of company stock worth $4,381,229 over the last three months. 13.70% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Hamilton Lane Advisors LLC bought a new position in shares of Intersect ENT in the 2nd quarter valued at approximately $1,022,000. Wellington Management Group LLP raised its stake in shares of Intersect ENT by 0.4% in the 1st quarter. Wellington Management Group LLP now owns 2,921,012 shares of the medical equipment provider’s stock valued at $50,095,000 after acquiring an additional 10,683 shares in the last quarter. Morgan Stanley raised its stake in shares of Intersect ENT by 4.8% in the 1st quarter. Morgan Stanley now owns 602,499 shares of the medical equipment provider’s stock valued at $10,333,000 after acquiring an additional 27,550 shares in the last quarter. EAM Investors LLC bought a new position in shares of Intersect ENT in the 2nd quarter valued at approximately $4,542,000. Finally, Teachers Advisors LLC raised its stake in shares of Intersect ENT by 0.3% in the 4th quarter. Teachers Advisors LLC now owns 59,774 shares of the medical equipment provider’s stock valued at $723,000 after acquiring an additional 206 shares in the last quarter. 83.12% of the stock is currently owned by institutional investors and hedge funds.

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. The Company has developed a drug releasing bioabsorbable implant technology that enables targeted and sustained release of therapeutic agents. This targeted drug delivery technology is designed to allow ENT physicians to manage patient care.

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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. “

XENT has been the subject of a number of other reports. Bank of America Corporation raised their price target on Intersect ENT from $33.00 to $40.00 and gave the stock a buy rating in a research note on Monday, September 11th. Canaccord Genuity raised their price target on Intersect ENT from $32.00 to $37.00 and gave the stock a buy rating in a research note on Wednesday, September 13th. BidaskClub downgraded Intersect ENT from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Piper Jaffray Companies reaffirmed a buy rating and set a $35.00 price target on shares of Intersect ENT in a research note on Tuesday, August 22nd. Finally, Northland Securities reaffirmed a hold rating and set a $25.00 price target on shares of Intersect ENT in a research note on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $27.70.

Shares of Intersect ENT (NASDAQ:XENT) opened at 30.65 on Thursday. The firm’s market cap is $894.64 million. Intersect ENT has a 52-week low of $7.65 and a 52-week high of $33.25. The company’s 50-day moving average is $30.45 and its 200-day moving average is $25.68.

Intersect ENT (NASDAQ:XENT) last posted its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.11. Intersect ENT had a negative return on equity of 17.60% and a negative net margin of 22.94%. The company had revenue of $24.00 million during the quarter, compared to the consensus estimate of $22.62 million. During the same period last year, the business earned ($0.21) EPS. The business’s quarterly revenue was up 24.4% on a year-over-year basis. Equities research analysts forecast that Intersect ENT will post ($0.61) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Zacks Investment Research Upgrades Intersect ENT, Inc. (XENT) to Buy” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece of content on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark laws. The legal version of this piece of content can be accessed at https://ledgergazette.com/2017/10/09/zacks-investment-research-upgrades-intersect-ent-inc-xent-to-buy.html.

In related news, CFO Jeryl L. Hilleman sold 12,833 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $29.00, for a total value of $372,157.00. Following the transaction, the chief financial officer now directly owns 27,833 shares of the company’s stock, valued at approximately $807,157. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Richard E. Kaufman sold 22,425 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $30.22, for a total value of $677,683.50. Following the completion of the transaction, the chief operating officer now directly owns 149,821 shares in the company, valued at $4,527,590.62. The disclosure for this sale can be found here. Insiders sold a total of 147,063 shares of company stock worth $4,381,229 over the last three months. 13.70% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Hamilton Lane Advisors LLC bought a new position in shares of Intersect ENT in the 2nd quarter valued at approximately $1,022,000. Wellington Management Group LLP raised its stake in shares of Intersect ENT by 0.4% in the 1st quarter. Wellington Management Group LLP now owns 2,921,012 shares of the medical equipment provider’s stock valued at $50,095,000 after acquiring an additional 10,683 shares in the last quarter. Morgan Stanley raised its stake in shares of Intersect ENT by 4.8% in the 1st quarter. Morgan Stanley now owns 602,499 shares of the medical equipment provider’s stock valued at $10,333,000 after acquiring an additional 27,550 shares in the last quarter. EAM Investors LLC bought a new position in shares of Intersect ENT in the 2nd quarter valued at approximately $4,542,000. Finally, Teachers Advisors LLC raised its stake in shares of Intersect ENT by 0.3% in the 4th quarter. Teachers Advisors LLC now owns 59,774 shares of the medical equipment provider’s stock valued at $723,000 after acquiring an additional 206 shares in the last quarter. 83.12% of the stock is currently owned by institutional investors and hedge funds.

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. The Company has developed a drug releasing bioabsorbable implant technology that enables targeted and sustained release of therapeutic agents. This targeted drug delivery technology is designed to allow ENT physicians to manage patient care.

Get a free copy of the Zacks research report on Intersect ENT (XENT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Intersect ENT (NASDAQ:XENT)

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