Intersect ENT Inc. (XENT) Trading Down 2.2%
Shares of Intersect ENT Inc. (NASDAQ:XENT) traded down 2.2% during mid-day trading on Friday . The company traded as low as $13.03 and last traded at $13.22, with a volume of 139,951 shares traded. The stock had previously closed at $13.52.
A number of analysts have recently issued reports on the company. BTIG Research assumed coverage on Intersect ENT in a research report on Tuesday, July 12th. They set a “neutral” rating on the stock. Northland Securities assumed coverage on Intersect ENT in a research report on Tuesday, March 29th. They set an “outperform” rating and a $26.00 target price on the stock. Zacks Investment Research raised Intersect ENT from a “sell” rating to a “hold” rating in a research report on Wednesday, May 11th. Leerink Swann reaffirmed a “buy” rating on shares of Intersect ENT in a research report on Thursday, March 24th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Intersect ENT in a research report on Thursday, March 24th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $26.33.
The firm’s 50 day moving average is $13.56 and its 200 day moving average is $16.72. The stock’s market capitalization is $391.47 million.
Intersect ENT (NASDAQ:XENT) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.29). The business earned $16.69 million during the quarter, compared to the consensus estimate of $16.92 million. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.23) earnings per share. On average, equities research analysts anticipate that Intersect ENT Inc. will post ($1.01) EPS for the current year.
In related news, VP Amy Wolbeck sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 27th. The shares were 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 directly owns 7,700 shares in the company, valued at $154,077. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kieran Gallahue acquired 8,000 shares of the firm’s stock in a transaction that occurred 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 approximately $101,120. The disclosure for this purchase can be found here.
A number of large investors have modified their holdings of XENT. Gratus Capital LLC boosted 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 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 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 in the last quarter. Nationwide Fund Advisors boosted its stake in shares of 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 in the last quarter. Tamarack Advisers LP acquired a new stake in shares of Intersect ENT during the fourth quarter worth about $5,609,000. Finally, Schroder Investment Management Group acquired a new stake in shares of Intersect ENT during the fourth quarter worth about $6,845,000.
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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