Intersect ENT Receives a Buy from Northland Securities

By Austin Angelo

Northland Securities analyst Suraj Kalia reiterated a Buy rating on Intersect ENT (NASDAQ: XENT) on March 8 and set a price target of $17. The company’s shares opened today at $15.30.

Kalia said:

“We remain bullish on the takeout potential of this story. Key Points As a reminder, RESOLVE would be in an “office” setting, hence would not be subject to the facility payment pressures currently being witnessed by PROPEL on the Medicare front. It is our understanding that the company would advocate the use of an unlisted J-code (physician administered drug) immediately after NDA approval.”

According to TipRanks.com, Kalia is a 3-star analyst with an average return of 2.2% and a 52.2% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Xtant Medical Holdings, Edwards Lifesciences, and Intuitive Surgical.

Currently, the analyst consensus on Intersect ENT is Strong Buy and the average price target is $21, representing a 37.3% upside.

In a report issued on March 8, Canaccord Genuity also initiated coverage with a Buy rating on the stock with a $17 price target.

The company has a one year high of $20.64 and a one year low of $7.65. Currently, Intersect ENT has an average volume of 239.4K.

Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of XENT in relation to earlier this year. Most recently, in May 2016, Kieran Gallahue, a Director at XENT bought 8,000 shares for a total of $101,040.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Intersect ENT, Inc. is a medical technology company, which is dedicated in the treatment of ear, nose, and throat conditions through evidence-based innovation, providing physicians with solutions to improve quality of life for patients. The company was founded by Donald J. Eaton in October 2003 and is headquartered in Menlo Park, CA.