Northland Securities upgraded shares of Intersect ENT (NASDAQ:XENT) from an under perform rating to a market perform rating in a research note issued to investors on Wednesday morning, AnalystRatings.com reports. Northland Securities currently has $20.00 price objective on the medical equipment provider’s stock.
“We are upgrading Intersect ENT to a Market Perform rating. We had downgraded the stock immediately after the Q1 report. The stock has reached our price target, hence the ratings change. We note though, the ratings change does not reflect a fundamental change in outlook, at least for now.”,” the firm’s analyst wrote.
XENT has been the subject of several other reports. Svb Leerink cut Intersect ENT from an outperform rating to a market perform rating and reduced their price target for the company from $41.00 to $29.00 in a research report on Tuesday, May 7th. ValuEngine cut Intersect ENT from a buy rating to a hold rating in a research report on Monday, July 8th. BidaskClub upgraded Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, July 4th. Berenberg Bank reiterated a buy rating and issued a GBX 620 ($8.10) price target on shares of in a research report on Friday, June 21st. Finally, Leerink Swann cut Adaptimmune Therapeutics from an outperform rating to a market perform rating and set a $4.15 price target for the company. in a research report on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $30.39.
Intersect ENT (NASDAQ:XENT) last released its earnings results on Monday, May 6th. The medical equipment provider reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.05). Intersect ENT had a negative return on equity of 22.90% and a negative net margin of 24.99%. The firm had revenue of $26.70 million during the quarter, compared to analysts’ expectations of $26.34 million. During the same period in the prior year, the business earned ($0.21) earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts forecast that Intersect ENT will post -1.32 earnings per share for the current fiscal year.
In other Intersect ENT news, insider Lisa D. Earnhardt sold 29,588 shares of Intersect ENT stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $28.43, for a total transaction of $841,186.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan P. Stimson sold 2,663 shares of Intersect ENT stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $30.00, for a total value of $79,890.00. The disclosure for this sale can be found here. Insiders have sold 77,951 shares of company stock valued at $2,302,205 in the last three months. 5.90% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Rhumbline Advisers boosted its position in shares of Intersect ENT by 47.3% in the 4th quarter. Rhumbline Advisers now owns 39,547 shares of the medical equipment provider’s stock worth $1,114,000 after purchasing an additional 12,700 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Intersect ENT by 2.5% in the 4th quarter. Bank of New York Mellon Corp now owns 148,397 shares of the medical equipment provider’s stock valued at $4,182,000 after acquiring an additional 3,595 shares in the last quarter. NumerixS Investment Technologies Inc lifted its position in Intersect ENT by 43.0% in the 4th quarter. NumerixS Investment Technologies Inc now owns 2,200 shares of the medical equipment provider’s stock valued at $60,000 after acquiring an additional 662 shares in the last quarter. Geode Capital Management LLC lifted its position in Intersect ENT by 9.3% in the 4th quarter. Geode Capital Management LLC now owns 341,570 shares of the medical equipment provider’s stock valued at $9,625,000 after acquiring an additional 29,102 shares in the last quarter. Finally, Broadfin Capital LLC lifted its holdings in shares of Intersect ENT by 22.9% during the 4th quarter. Broadfin Capital LLC now owns 287,900 shares of the medical equipment provider’s stock valued at $8,113,000 after buying an additional 53,700 shares during the period. 92.00% of the stock is owned by hedge funds and other institutional investors.
Intersect ENT Company Profile
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. The company 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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