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Intersect ENT: FDA Submission of RESOLVE Implant, Stock Up
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Menlo Park, CA-based Intersect ENT, Inc recently announced the submission of a New Drug Application (NDA) approval with the U.S. FDA for reviewing its investigational RESOLVE steroid releasing implant. This marks the submission of the company’s fourth steroid releasing implant platform for patients with chronic sinusitis.
The RESOVE implant platform is a less-invasive treatment option that can cater to the needs of almost 635,000 potential patients suffering from sinusitis disorders across the country. Notably, the existing treatments for chronic sinusitis and sinus obstruction are not ideal for regular use and rely on high-dose oral steroids and repeat-surgery.
Of the major features of this implant platform, RESOLVE has greater radial strength and is a cost-effective solution that can be easily performed in the physician’s office. Meanwhile, the company has gained prominence in the market with its broad array of products for treating sinusitis. Of the notable ones, PROPEL is another clinically proven, dissolvable implant for chronic sinusitis patients undergoing sinus surgery.
Stock Performance
Intersect shares rallied almost 3.2% to close at $14.65 following the news release.
However, over the last one year, the price performance of Intersect has been dismal. The stock lost 17.8%, comparing unfavorably with the Zacks classified Medical – Instruments sub-industry’s gain of 11.8%. Also, the current level compares unfavorably with the S&P 500’s return of 16.9% over the same time frame.
The estimate revision trend for the stock also lacks luster. The current quarter has seen three estimates move south over the last two months, with no movement in the opposite direction. As a result, the Zacks Consensus Estimate for the current quarter projects a loss of 24 cents per share.
Meanwhile, the stock has a long-term expected earnings growth rate of 22.5%, instilling confidence in investors. Notably, Intersect has a Zacks Rank #3 (Hold).
Bottom Line
We believe that the latest development will strengthen the company’s product portfolio, helping it to tap in on the abundant opportunities in the domestic and international sinusitis treatment markets.
According to the Center of Disease Control and Prevention (CDC), almost 12% of the U.S. population in the age group of 18 years and above is suffering from health hazards pertaining to sinusitis. We believe the increasing rate of chronic sinusitis among the young adults should buoy the business trends of companies like Intersect, which are solely engaged in preparing therapeutic solutions for patients with ear, nose, and throat (ENT) issues.
Even the global market trends seem to be quite lucrative, as an analysis by the Markets And Markets reveals that the ENT Devices market is projected to multiply at a CAGR of 6.5% by 2020.
IDEXX Laboratories has a long-term expected earnings growth rate of approximately 15.04%. Notably, the stock represents an impressive one-year return of 89.7%.
Avinger projects sales growth of 30.6% for the current year. The company posted a positive earnings surprise of 27% in the last quarter.
Fluidigm has a long-term expected earnings growth rate of 25%. The company posted a positive earnings surprise of 1.6% in the last quarter.
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Intersect ENT: FDA Submission of RESOLVE Implant, Stock Up
Menlo Park, CA-based Intersect ENT, Inc recently announced the submission of a New Drug Application (NDA) approval with the U.S. FDA for reviewing its investigational RESOLVE steroid releasing implant. This marks the submission of the company’s fourth steroid releasing implant platform for patients with chronic sinusitis.
The RESOVE implant platform is a less-invasive treatment option that can cater to the needs of almost 635,000 potential patients suffering from sinusitis disorders across the country. Notably, the existing treatments for chronic sinusitis and sinus obstruction are not ideal for regular use and rely on high-dose oral steroids and repeat-surgery.
Intersect ENT, Inc. Price
Intersect ENT, Inc. Price | Intersect ENT, Inc. Quote
Of the major features of this implant platform, RESOLVE has greater radial strength and is a cost-effective solution that can be easily performed in the physician’s office. Meanwhile, the company has gained prominence in the market with its broad array of products for treating sinusitis. Of the notable ones, PROPEL is another clinically proven, dissolvable implant for chronic sinusitis patients undergoing sinus surgery.
Stock Performance
Intersect shares rallied almost 3.2% to close at $14.65 following the news release.
However, over the last one year, the price performance of Intersect has been dismal. The stock lost 17.8%, comparing unfavorably with the Zacks classified Medical – Instruments sub-industry’s gain of 11.8%. Also, the current level compares unfavorably with the S&P 500’s return of 16.9% over the same time frame.
The estimate revision trend for the stock also lacks luster. The current quarter has seen three estimates move south over the last two months, with no movement in the opposite direction. As a result, the Zacks Consensus Estimate for the current quarter projects a loss of 24 cents per share.
Meanwhile, the stock has a long-term expected earnings growth rate of 22.5%, instilling confidence in investors. Notably, Intersect has a Zacks Rank #3 (Hold).
Bottom Line
We believe that the latest development will strengthen the company’s product portfolio, helping it to tap in on the abundant opportunities in the domestic and international sinusitis treatment markets.
According to the Center of Disease Control and Prevention (CDC), almost 12% of the U.S. population in the age group of 18 years and above is suffering from health hazards pertaining to sinusitis. We believe the increasing rate of chronic sinusitis among the young adults should buoy the business trends of companies like Intersect, which are solely engaged in preparing therapeutic solutions for patients with ear, nose, and throat (ENT) issues.
Even the global market trends seem to be quite lucrative, as an analysis by the Markets And Markets reveals that the ENT Devices market is projected to multiply at a CAGR of 6.5% by 2020.
Stocks to Consider
Better-ranked stocks in the broader medical sector include IDEXX Laboratories, Inc. (IDXX - Free Report) , Avinger, Inc. (AVGR - Free Report) and Fluidigm Corp. . All the three stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks (Strong Buy) here.
IDEXX Laboratories has a long-term expected earnings growth rate of approximately 15.04%. Notably, the stock represents an impressive one-year return of 89.7%.
Avinger projects sales growth of 30.6% for the current year. The company posted a positive earnings surprise of 27% in the last quarter.
Fluidigm has a long-term expected earnings growth rate of 25%. The company posted a positive earnings surprise of 1.6% in the last quarter.
8 Stocks with Huge Profit Potential
Just released: Driverless Cars: Your Roadmap to Mega-Profits Today. In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>