In a report released today, Suraj Kalia from Northland Securities maintained a Hold rating on Intersect ENT (NASDAQ: XENT), with a price target of $28. The company’s shares opened today at $30.04.
Kalia commented:
“We maintain a cautious stance. Key Points It is our understanding that SINUVA will most likely receive a 2019 @ ASP + 6% reimbursement rate. Assuming Intersect ENT prices SINUVA @ $1,250 each, the $2,500 price tag for 2-implants/patient would imply reimbursement @ $2,650. What is unclear to us is the % co-pay required of the patient. Even if Medicare is @ 20% co-pay, that would imply ~ $530 out-of-pocket expense. For private payors, the co-pay could be much higher given the Tier 3 drug status.”
According to TipRanks.com, Kalia is a 5-star analyst with an average return of 14.7% and a 60.5% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Obalon Therapeutics Inc, Apollo Endosurgery Inc, and Edwards Lifesciences.
Intersect ENT has an analyst consensus of Moderate Buy, with a price target consensus of $34.67.
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Based on Intersect ENT’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.16 million. In comparison, last year the company had a GAAP net loss of $4.26 million.
Based on the recent corporate insider activity of 47 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.
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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.
