BidaskClub Lowers Intersect ENT (NASDAQ:XENT) to Sell

BidaskClub downgraded shares of Intersect ENT (NASDAQ:XENT) from a hold rating to a sell rating in a research report released on Wednesday, BidAskClub reports.

XENT has been the topic of a number of other reports. Oppenheimer initiated coverage on shares of Intersect ENT in a research note on Tuesday, June 23rd. They issued a market perform rating on the stock. JPMorgan Chase & Co. lowered their target price on shares of Intersect ENT from $28.00 to $18.00 and set an overweight rating on the stock in a research note on Tuesday, May 12th. Piper Sandler lowered their target price on shares of Intersect ENT from $23.00 to $14.00 and set a neutral rating on the stock in a research note on Tuesday, May 12th. SVB Leerink raised their target price on shares of Intersect ENT from $14.00 to $18.50 and gave the company a market perform rating in a research note on Wednesday, July 15th. Finally, BTIG Research reaffirmed a hold rating on shares of Intersect ENT in a research note on Wednesday, June 10th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Intersect ENT currently has an average rating of Hold and a consensus target price of $18.58.

XENT stock opened at $17.19 on Wednesday. The firm has a 50 day moving average of $15.15 and a 200-day moving average of $16.67. The company has a debt-to-equity ratio of 0.10, a quick ratio of 5.67 and a current ratio of 6.63. Intersect ENT has a 12 month low of $5.97 and a 12 month high of $31.46.

Intersect ENT (NASDAQ:XENT) last released its quarterly earnings data on Monday, May 11th. The medical equipment provider reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.10). Intersect ENT had a negative net margin of 48.61% and a negative return on equity of 43.72%. The firm had revenue of $19.83 million during the quarter, compared to the consensus estimate of $19.70 million. On average, analysts anticipate that Intersect ENT will post -1.68 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the business. Mackay Shields LLC purchased a new position in shares of Intersect ENT during the second quarter worth approximately $689,000. First Quadrant L P CA bought a new position in shares of Intersect ENT in the second quarter worth approximately $271,000. Strs Ohio bought a new position in shares of Intersect ENT in the second quarter worth approximately $166,000. HighMark Wealth Management LLC grew its holdings in shares of Intersect ENT by 249.3% in the second quarter. HighMark Wealth Management LLC now owns 2,096 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 1,496 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Intersect ENT in the second quarter worth approximately $3,498,000. 85.67% of the stock is currently 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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Analyst Recommendations for Intersect ENT (NASDAQ:XENT)

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