Intersect ENT Inc. (XENT) Coverage Initiated at Deutsche Bank AG
Equities researchers at Deutsche Bank AG began coverage on shares of Intersect ENT Inc. (NASDAQ:XENT) in a report issued on Thursday. The brokerage set a “hold” rating and a $17.00 price target on the stock. Deutsche Bank AG’s target price would suggest a potential upside of 5.00% from the stock’s current price.
A number of other equities analysts have also recently commented on the company. Zacks Investment Research cut Intersect ENT from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Wedbush reissued an “outperform” rating and set a $25.00 price target on shares of Intersect ENT in a research note on Wednesday, August 3rd. Piper Jaffray Cos. reissued an “overweight” rating and set a $21.00 price target on shares of Intersect ENT in a research note on Friday, August 26th. BTIG Research began coverage on Intersect ENT in a research note on Tuesday, July 12th. They set a “neutral” rating for the company. Finally, Canaccord Genuity reissued a “buy” rating on shares of Intersect ENT in a research note on Monday, July 18th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $22.00.
Shares of Intersect ENT (NASDAQ:XENT) opened at 16.19 on Thursday. The company has a 50-day moving average price of $15.56 and a 200 day moving average price of $15.49. Intersect ENT has a 52 week low of $11.88 and a 52 week high of $23.00. The stock’s market capitalization is $460.67 million.
Intersect ENT (NASDAQ:XENT) last announced its 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 firm earned $19.30 million during 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 company’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.23) EPS. Equities analysts forecast that Intersect ENT will post ($0.96) EPS for the current fiscal year.
In other news, VP James Stambaugh sold 5,000 shares of the business’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $15.33, for a total value of $76,650.00. Following the completion of the transaction, the vice president now directly owns 29,000 shares of the company’s stock, valued at approximately $444,570. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 completion of the transaction, the vice president now directly owns 18,076 shares of the company’s stock, valued at $286,143.08. The disclosure for this sale can be found here. Company insiders own 13.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in XENT. BlackRock Fund Advisors raised its position in Intersect ENT by 54.0% in the second quarter. BlackRock Fund Advisors now owns 661,629 shares of the company’s stock valued at $8,555,000 after buying an additional 232,115 shares during the last quarter. Bellevue Group AG bought a new position in Intersect ENT during the first quarter valued at approximately $3,976,000. Royce & Associates LP raised its position 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 last quarter. Adage Capital Partners GP L.L.C. bought a new position in Intersect ENT during the second quarter valued at approximately $2,254,000. Finally, Kopp Investment Advisors LLC raised its position in Intersect ENT by 32.0% in the second quarter. Kopp Investment Advisors LLC now owns 645,078 shares of the company’s stock valued at $8,341,000 after buying an additional 156,435 shares during the last quarter. 77.80% of the stock is owned by hedge funds and other institutional investors.
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. 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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