Intersect ENT, Inc. (XENT) Price Target Raised to $40.00 at Bank of America Corporation

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.

The Fly

Analyst Recommendations for Intersect ENT (NASDAQ:XENT)

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