Why Did BTIG Upgrade Intersect ENT’s Stock?

Intersect ENT (XENTResearch Report) received a Buy rating and a $32.00 price target from BTIG analyst Ryan Zimmerman today. The company’s shares closed last Monday at $20.04.

According to TipRanks.com, Zimmerman is a top 100 analyst with an average return of 40.0% and a 67.3% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Zimmer Biomet Holdings, and Staar Surgical Company.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Intersect ENT with a $27.25 average price target.

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Intersect ENT’s market cap is currently $676.5M and has a P/E ratio of -9.10. The company has a Price to Book ratio of -811.30.

Based on the recent corporate insider activity of 17 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. Most recently, in February 2021, Frederic Moll, a Director at XENT bought 12,500 shares for a total of $9,000.

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 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.