Intersect ENT, Inc. (NASDAQ:XENT) had its price target upped by Bank of America Corporation from $33.00 to $40.00 in a research note issued to investors on Monday morning, The Fly reports. Bank of America Corporation currently has a buy rating on the medical equipment provider’s stock.
Several other research firms have also commented on XENT. Piper Jaffray Companies restated a buy rating and set a $35.00 price target on shares of Intersect ENT in a research report on Tuesday, August 22nd. TheStreet upgraded shares of Intersect ENT from a d rating to a c- rating in a research report on Tuesday, August 1st. BidaskClub lowered shares of Intersect ENT from a buy rating to a hold rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Intersect ENT from a sell rating to a hold rating in a research report on Wednesday, July 26th. Finally, Northland Securities restated a hold rating and set a $25.00 price target on shares of Intersect ENT in a research report on Wednesday, August 2nd. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $27.11.
Shares of Intersect ENT (NASDAQ:XENT) opened at 30.40 on Monday. The stock has a 50 day moving average of $30.29 and a 200 day moving average of $23.96. Intersect ENT has a 1-year low of $7.65 and a 1-year high of $33.25. The firm’s market cap is $887.35 million.
Intersect ENT (NASDAQ:XENT) last released its earnings results on Tuesday, August 1st. The medical equipment provider reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.11. The firm had revenue of $24.00 million during the quarter, compared to analyst estimates of $22.62 million. Intersect ENT had a negative net margin of 22.94% and a negative return on equity of 17.60%. The firm’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. Equities research analysts anticipate that Intersect ENT will post ($0.61) earnings per share for the current fiscal year.
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In related news, COO Richard E. Kaufman sold 22,425 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $30.22, for a total value of $677,683.50. Following the completion of the sale, the chief operating officer now owns 149,821 shares of the company’s stock, valued at $4,527,590.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeryl L. Hilleman sold 12,835 shares of the company’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $27.18, for a total transaction of $348,855.30. Following the completion of the sale, the chief financial officer now directly owns 27,835 shares of the company’s stock, valued at approximately $756,555.30. The disclosure for this sale can be found here. Insiders sold 113,426 shares of company stock valued at $3,346,685 in the last ninety days. Corporate insiders own 13.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Lord Abbett & CO. LLC acquired a new stake in Intersect ENT in the second quarter worth about $9,384,000. Dynamic Technology Lab Private Ltd acquired a new stake in Intersect ENT in the second quarter worth about $297,000. Verition Fund Management LLC acquired a new stake in Intersect ENT in the second quarter worth about $331,000. Moors & Cabot Inc. acquired a new stake in Intersect ENT in the second quarter worth about $205,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Intersect ENT in the second quarter worth about $229,000. 83.12% of the stock is owned by institutional investors and hedge funds.
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. The Company has developed a drug releasing bioabsorbable implant technology that enables targeted and sustained release of therapeutic agents. This targeted drug delivery technology is designed to allow ENT physicians to manage patient care.
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