Intersect ENT (XENT) Receives a Hold from Northland Securities

By Austin Angelo

Northland Securities analyst Suraj Kalia maintained a Hold rating on Intersect ENT (XENTResearch Report) today and set a price target of $20. The company’s shares closed yesterday at $21.10, close to its 52-week low of $20.80.

Kalia said:

“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.”

According to TipRanks.com, Kalia is a 5-star analyst with an average return of 11.0% and a 60.0% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Varex Imaging Corporation, and Strata Skin Sciences Inc.

Currently, the analyst consensus on Intersect ENT is a Hold with an average price target of $27.75.

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Based on Intersect ENT’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $10.81 million. In comparison, last year the company had a GAAP net loss of $4.16 million.

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Intersect ENT, Inc. is a commercial drug delivery company, which engages in the treatment of ear, nose, and throat conditions. The company was founded by Donald J. Eaton in October 2003 and is headquartered in Menlo Park, CA.