TipRanksStock Market NewsLeerink Partners Remains a Buy on Intersect ENT (XENT)

Leerink Partners Remains a Buy on Intersect ENT (XENT)

Leerink Partners analyst Richard Newitter reiterated a Buy rating on Intersect ENT (XENTResearch Report) on July 22. The company’s shares closed last Wednesday at $22.43.

According to TipRanks.com, Newitter is a 5-star analyst with an average return of 24.2% and a 66.9% success rate. Newitter covers the Healthcare sector, focusing on stocks such as Inspire Medical Systems, Treace Medical Concepts, and Zimmer Biomet Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Intersect ENT with a $27.33 average price target, which is a 26.8% upside from current levels. In a report issued on July 22, BTIG also maintained a Buy rating on the stock with a $32.00 price target.

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Based on Intersect ENT’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $24.33 million and GAAP net loss of $20.03 million. In comparison, last year the company earned revenue of $19.83 million and had a GAAP net loss of $17.53 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. Its products include PROPEL and SINUVA. The PROPEL used to maintain the opening and locally deliver steroid after sinus surgery. The SINUVA is used to treat adult patients with ethmoid sinus surgery yet suffer from recurrent sinus obstruction due to polyps. The company was founded by Donald J. Eaton in October 2003 and is headquartered in Menlo Park, CA.

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