Northland Securities analyst Suraj Kalia maintained a Hold rating on Intersect ENT (NASDAQ: XENT) today and set a price target of $32. The company’s shares opened today at $41.10, close to its 52-week high of $42.25.
Kalia wrote:
“We are raising our FY18 and FY19 numbers, in part due to elevated expectations on SINUVA. In our view, this story of marginal beats and “managing Street expectations” is not enough to elevate the stock from its current 10x sales multiple.”
According to TipRanks.com, Kalia is a 4-star analyst with an average return of 8.7% and a 60.9% success rate. Kalia covers the Healthcare sector, focusing on stocks such as EyePoint Pharmaceuticals Inc, Tactile Systems Technology, and Obalon Therapeutics Inc.
Currently, the analyst consensus on Intersect ENT is Moderate Buy and the average price target is $42, representing a 2.2% upside.
In a report released yesterday, BTIG also maintained a Hold rating on the stock.
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Based on Intersect ENT’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $24.72 million and GAAP net loss of $6.14 million. In comparison, last year the company earned revenue of $20.47 million and had a GAAP net loss of $6.68 million.
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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.
