BTIG Maintains Their Hold Rating on Intersect ENT (XENT)


In a report released today, Sean Lavin from BTIG maintained a Hold rating on Intersect ENT (XENT). The company’s shares opened today at $34.11.

Lavin observed:

“Intersect reported Q4 revenue in line with its preannouncement. Guidance of $123M-$127M (also given previously) remains just below the Street’s $127.2M but not surprising given some conservatism early in the year. The company will no longer guide SINUVA but is aware of Street estimates and will see how sales play out. The big surprise was operating expense guidance of $135-137M which was well above most estimates. We think shares will be pressured Tuesday. While a good portion of this increased spend will be R&D for a new drug-coated balloon, it is also clear that much of XENT’s growth is coming through head count. While Intersect will have significantly more data coming, we continue to remain cautious around reimbursement for SINUVA. We do not know what will happen with the re- proposed J-Code and we are not sure how many insurance companies will decide to pay more than once per year.”

According to TipRanks.com, Lavin is a 5-star analyst with an average return of 10.8% and a 60.4% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Tactile Systems Technology.

Intersect ENT has an analyst consensus of Moderate Buy, with a price target consensus of $37.50.

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The company has a one-year high of $42.95 and a one-year low of $25.09. Currently, Intersect ENT has an average volume of 289K.

Based on the recent corporate insider activity of 37 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. Last month, Susan Stimson, the CSO of XENT bought 5,000 shares for a total of $6,000.

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 acommercial 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.

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