Intersect ENT Inc. (XENT) Trading 2.5% Higher
Shares of Intersect ENT Inc. (NASDAQ:XENT) traded up 2.5% during mid-day trading on Thursday . The company traded as high as $13.90 and last traded at $13.58, with a volume of 393,655 shares. The stock had previously closed at $13.25.
A number of analysts have issued reports on the company. BTIG Research assumed coverage on Intersect ENT in a research note on Tuesday. They issued a “neutral” rating on the stock. Northland Securities assumed coverage on Intersect ENT in a research note on Tuesday, March 29th. They issued an “outperform” rating and a $26.00 price objective on the stock. Zacks Investment Research raised Intersect ENT from a “sell” rating to a “hold” rating in a research note on Wednesday, May 11th. Leerink Swann reaffirmed a “buy” rating on shares of Intersect ENT in a research note on Thursday, March 24th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Intersect ENT in a research note on Thursday, March 24th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $26.33.
The stock’s 50-day moving average price is $13.51 and its 200-day moving average price is $16.81. The firm’s market capitalization is $382.97 million.
Intersect ENT (NASDAQ:XENT) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.29). During the same quarter in the prior year, the company posted ($0.23) EPS. The business had revenue of $16.69 million for the quarter, compared to analysts’ expectations of $16.92 million. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities analysts expect that Intersect ENT Inc. will post ($1.01) earnings per share for the current year.
In other news, Director Kieran Gallahue bought 8,000 shares of Intersect ENT stock in a transaction on Monday, May 16th. The stock was acquired at an average price of $12.64 per share, with a total value of $101,120.00. Following the completion of the acquisition, the director now directly owns 8,000 shares of the company’s stock, valued at $101,120. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Lisa D. Earnhardt sold 28,500 shares of the stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $18.69, for a total value of $532,665.00. Following the transaction, the chief executive officer now directly owns 581,368 shares of the company’s stock, valued at approximately $10,865,767.92. The disclosure for this sale can be found here.
Several institutional investors have recently made changes to their positions in XENT. Jennison Associates LLC boosted its position in shares of Intersect ENT by 11.2% in the fourth quarter. Jennison Associates LLC now owns 2,770,905 shares of the company’s stock worth $62,345,000 after buying an additional 279,176 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Intersect ENT during the fourth quarter worth approximately $6,845,000. Royce & Associates LLC boosted its position in shares of Intersect ENT by 15.7% in the fourth quarter. Royce & Associates LLC now owns 420,400 shares of the company’s stock worth $9,459,000 after buying an additional 56,900 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Intersect ENT by 36.2% in the fourth quarter. Wells Fargo & Company MN now owns 2,288,725 shares of the company’s stock worth $51,495,000 after buying an additional 607,788 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in shares of Intersect ENT by 77.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 92,311 shares of the company’s stock worth $2,077,000 after buying an additional 40,311 shares during the last quarter.
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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