There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Intersect ENT (NASDAQ: XENT) and Lexicon Pharmaceuticals (NASDAQ: LXRX) with bullish sentiments.
Intersect ENT (NASDAQ: XENT)
In a report released today, Kyle Rose from Canaccord Genuity reiterated a Buy rating on Intersect ENT (NASDAQ: XENT), with a price target of $46. The company’s shares opened today at $41.45, close to its 52-week high of $42.25.
Rose noted:
“We reiterate our BUY rating on XENT and view ongoing share weakness as a buying opportunity. Specifically, shares are down ~9% intraday following the release of preliminary CMS guidelines that deny XENT’s request for a standalone J-code for Sinuva. The decision was disclosed in the CMS preliminary agenda for the upcoming Public Meeting for Drugs, Biological, and Radiopharmaceuticals held on May 15, 2018 (link). In the preliminary guideline CMS denies XENT’s request for a product-specific J-code and instead assigns Sinuva to an old and soon to be defunct (as of Jan 1, 2019) Category 3 CPT code – 0406T. Our conversation with management suggests the decision in the preliminary guidelines was likely an oversight on the part of CMS and something that will likely be addressed when the topic presented at the meeting on May 15.”
According to TipRanks.com, Rose is a 5-star analyst with an average return of 12.1% and a 57.1% success rate. Rose covers the Healthcare sector, focusing on stocks such as Obalon Therapeutics Inc, Zimmer Biomet Holdings, and Smith & Nephew Snats.
Currently, the analyst consensus on Intersect ENT is Moderate Buy and the average price target is $40.75, representing a -1.7% downside.
In a report issued on May 2, J.P. Morgan also reiterated a Buy rating on the stock with a $48 price target.
Find more picks by Best Performing Analysts >>
Lexicon Pharmaceuticals (NASDAQ: LXRX)
Wedbush analyst Liana Moussatos reiterated a Buy rating on Lexicon Pharmaceuticals (NASDAQ: LXRX) today and set a price target of $40. The company’s shares opened today at $8.80, close to its 52-week low of $7.67.
According to TipRanks.com, Moussatos is a 4-star analyst with an average return of 8.9% and a 42.7% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as Allena Pharmaceuticals Inc, Catabasis Pharmaceuticals, and Global Blood Therapeutics.
Lexicon Pharmaceuticals has an analyst consensus of Hold, with a price target consensus of $25.
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.
