Intersect ENT Inc. (XENT) Trading 2.5% Higher
Intersect ENT Inc. (NASDAQ:XENT)’s share price traded up 2.5% during trading on Thursday . The company traded as high as $13.90 and last traded at $13.58, with a volume of 393,655 shares traded. The stock had previously closed at $13.25.
A number of equities analysts have recently commented on the company. BTIG Research assumed coverage on Intersect ENT in a report on Tuesday. They issued a “neutral” rating on the stock. Northland Securities assumed coverage on Intersect ENT in a report on Tuesday, March 29th. They issued an “outperform” rating and a $26.00 price objective on the stock. Zacks Investment Research upgraded Intersect ENT from a “sell” rating to a “hold” rating in a report on Wednesday, May 11th. Leerink Swann restated a “buy” rating on shares of Intersect ENT in a report on Thursday, March 24th. Finally, Canaccord Genuity restated a “buy” rating on shares of Intersect ENT in a report on Thursday, March 24th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $26.33.
The firm’s market capitalization is $391.47 million. The firm’s 50 day moving average price is $13.56 and its 200 day moving average price is $16.72.
Intersect ENT (NASDAQ:XENT) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($0.29) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.29). The business had revenue of $16.69 million for the quarter, compared to analysts’ expectations of $16.92 million. During the same quarter in the prior year, the firm posted ($0.23) EPS. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. Equities research analysts forecast that Intersect ENT Inc. will post ($1.01) earnings per share for the current year.
In other Intersect ENT news, Director Kieran Gallahue purchased 8,000 shares of the stock in a transaction dated Monday, May 16th. The shares were acquired at an average price of $12.64 per share, for a total transaction of $101,120.00. Following the completion of the acquisition, the director now owns 8,000 shares of the company’s stock, valued at approximately $101,120. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lisa D. Earnhardt sold 28,500 shares of Intersect ENT stock in a transaction 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 owns 581,368 shares in the company, valued at approximately $10,865,767.92. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have modified their holdings of the stock. Gratus Capital LLC increased its position in shares of Intersect ENT by 5.3% in the fourth quarter. Gratus Capital LLC now owns 68,091 shares of the company’s stock worth $1,532,000 after buying an additional 3,440 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in 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. Royce & Associates LLC boosted its stake in 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. Nationwide Fund Advisors boosted its stake in Intersect ENT by 95.2% in the fourth quarter. Nationwide Fund Advisors now owns 198,487 shares of the company’s stock worth $4,466,000 after buying an additional 96,794 shares during the last quarter. Finally, Tamarack Advisers LP purchased a new stake in Intersect ENT during the fourth quarter worth about $5,609,000.
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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