Intersect ENT (XENT) Stock Rating Reaffirmed by Northland Securities

Northland Securities reiterated their hold rating on shares of Intersect ENT (NASDAQ:XENT) in a report published on Wednesday morning. Northland Securities currently has a $28.00 target price on the medical equipment provider’s stock.

“We had specifically referenced this drug and these Phase-III studies as risks on the horizon for SINUVA in our note dated 10/03/18. The Phase – III data raise many questions in our mind about SINUVA outlook and the competitive landscape. Caution is warranted vis-a-vis SINUVA. Key Points The f/u for the 2-trials was 24-wks, Dupilumab + mometasone furoate (Nasonex) spray 51% reduction in nasal congestion / obstruction severity vs. 15% for the control arm of mometasone furoate spray in SINUS-24 trial. The numbers stood at 57% and 19% for SINUS-52 trial.”,” the firm’s analyst wrote.

Other equities analysts have also issued research reports about the company. Canaccord Genuity restated a buy rating on shares of Intersect ENT in a research note on Wednesday, August 1st. BidaskClub upgraded Intersect ENT from a hold rating to a buy rating in a research note on Thursday, June 28th. ValuEngine raised Intersect ENT from a hold rating to a buy rating in a research report on Tuesday, October 2nd. BTIG Research reaffirmed a hold rating on shares of Intersect ENT in a research report on Thursday, August 2nd. Finally, Piper Jaffray Companies dropped their price objective on Intersect ENT from $45.00 to $40.00 and set an overweight rating on the stock in a research report on Wednesday, August 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $39.67.

Shares of Intersect ENT stock traded down $0.38 during trading on Wednesday, hitting $29.50. 4,634 shares of the stock traded hands, compared to its average volume of 309,296. The firm has a market cap of $875.57 million, a P/E ratio of -52.50 and a beta of 0.56. Intersect ENT has a 52-week low of $25.15 and a 52-week high of $42.95.

Intersect ENT (NASDAQ:XENT) last announced its quarterly earnings results on Wednesday, August 1st. The medical equipment provider reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.03. The firm had revenue of $26.30 million for the quarter, compared to analyst estimates of $28.15 million. Intersect ENT had a negative return on equity of 15.01% and a negative net margin of 17.22%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) earnings per share. As a group, research analysts forecast that Intersect ENT will post -0.86 earnings per share for the current year.

In related news, Director Dana G. Jr. Mead acquired 3,811 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were bought at an average price of $26.22 per share, with a total value of $99,924.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lisa D. Earnhardt sold 20,000 shares of the firm’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $29.14, for a total value of $582,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,666 shares of company stock worth $2,435,926. 5.90% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of XENT. Bank of Montreal Can boosted its holdings in Intersect ENT by 44.2% in the third quarter. Bank of Montreal Can now owns 64,841 shares of the medical equipment provider’s stock worth $1,865,000 after acquiring an additional 19,860 shares in the last quarter. Northern Trust Corp boosted its holdings in Intersect ENT by 10.7% in the second quarter. Northern Trust Corp now owns 392,794 shares of the medical equipment provider’s stock worth $14,710,000 after acquiring an additional 37,818 shares in the last quarter. Waddell & Reed Financial Inc. boosted its holdings in Intersect ENT by 1.6% in the second quarter. Waddell & Reed Financial Inc. now owns 169,500 shares of the medical equipment provider’s stock worth $6,348,000 after acquiring an additional 2,600 shares in the last quarter. MetLife Investment Advisors LLC boosted its holdings in Intersect ENT by 22.2% in the second quarter. MetLife Investment Advisors LLC now owns 13,971 shares of the medical equipment provider’s stock worth $523,000 after acquiring an additional 2,537 shares in the last quarter. Finally, First Light Asset Management LLC boosted its holdings in Intersect ENT by 20.4% in the second quarter. First Light Asset Management LLC now owns 227,883 shares of the medical equipment provider’s stock worth $8,534,000 after acquiring an additional 38,652 shares in the last quarter. 90.30% of the stock is currently owned by institutional investors.

About Intersect ENT

Intersect ENT, Inc, a drug delivery company, researches and develops products for the treatment of patients with ear, nose and throat conditions in the United States. It offers PROPEL and PROPEL mini drug releasing implants for patients undergoing sinus surgery to treat chronic sinusitis; and PROPEL Contour, a steroid releasing implant to frontal and maxillary sinus ostia, or openings, of the dependent sinuses.

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Analyst Recommendations for Intersect ENT (NASDAQ:XENT)

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