Intersect ENT Inc. (XENT) Sees Unusually-High Trading Volume
Intersect ENT Inc. (NASDAQ:XENT) saw an uptick in trading volume on Monday . 962,407 shares changed hands during mid-day trading, an increase of 156% from the previous session’s volume of 375,339 shares.The stock last traded at $15.27 and had previously closed at $13.82.
A number of brokerages have weighed in on XENT. BTIG Research began coverage on shares of Intersect ENT in a report on Tuesday, July 12th. They issued a “neutral” rating on the stock. Canaccord Genuity restated a “buy” rating on shares of Intersect ENT in a report on Monday. Northland Securities began coverage on shares of 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 shares of Intersect ENT from a “sell” rating to a “hold” rating in a report on Wednesday, May 11th. Finally, Leerink Swann 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 issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $26.33.
The stock’s market cap is $445.57 million. The stock has a 50-day moving average of $13.68 and a 200 day moving average of $16.58.
Intersect ENT (NASDAQ:XENT) last posted its quarterly earnings results on Thursday, May 5th. The company reported ($0.29) earnings per share for the quarter, hitting the consensus estimate of ($0.29). During the same quarter in the previous year, the company earned ($0.23) EPS. The company earned $16.69 million during the quarter, compared to analysts’ expectations of $16.92 million. The business’s quarterly revenue was up 24.8% on a year-over-year basis. Analysts forecast that Intersect ENT Inc. will post ($1.01) EPS for the current year.
In related news, Director Kieran Gallahue purchased 8,000 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were bought at an average price of $12.64 per share, for a total transaction of $101,120.00. Following the purchase, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $101,120. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Amy Wolbeck sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 27th. The stock was sold at an average price of $20.01, for a total value of $40,020.00. Following the completion of the sale, the vice president now owns 7,700 shares in the company, valued at approximately $154,077. The disclosure for this sale can be found here.
Several hedge funds recently bought and sold shares of XENT. Nationwide Fund Advisors increased 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 valued at $4,466,000 after buying an additional 96,794 shares during the last quarter. Tamarack Advisers LP acquired a new stake in shares of Intersect ENT during the fourth quarter valued at approximately $5,609,000. Gratus Capital LLC increased its stake 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 valued at $1,532,000 after buying an additional 3,440 shares in the last quarter. Mutual of America Capital Management LLC increased its stake 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 valued at $2,077,000 after buying an additional 40,311 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake 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 valued at $51,495,000 after buying an additional 607,788 shares in 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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