Analyst Update: Tandem Diabetes Care Inc, Intersect ENT Inc, and Eagle Pharmaceuticals Inc

Analysts are weighing in on medical device makers Tandem Diabetes Care Inc (NASDAQ:TNDM) and Intersect ENT Inc (NASDAQ:XENT), as well as biotech stock Eagle Pharmaceuticals Inc (NASDAQ:EGRX). Here's a quick roundup of today's brokerage notes on TNDM, XENT, and EGRX.

• TNDM is plummeting today, down 57.9% at $2.25 -- after touching a record low of $1.95 earlier -- following the company's first revenue miss in two years. The brokerage crowd was quick to jump on TNDM -- which is second to only drugmaker Cempra Inc (NASDAQ:CEMP) on the list of worst-performing Nasdaq stocks -- with Stifel cutting TNDM to "hold" from "buy," and absolutely obliterating its price target, to $3.50 from $15, citing concerns about decreased revenue as consumers put off purchases ahead of Medtronic PLC's (NYSE:MDT) new insulin pump release in spring of 2017. Meanwhile, Wedbush chopped TNDM's price target to $11 from $20, and Deutsche Bank slashed its target to $9 from $14. Tandem Diabetes Care Inc shares are now down 80% since the beginning of 2016, and the stock landed on the short-sale restricted (SSR) list today. With 9.7% of TNDM's float sold short, it would take nearly three-and-a-half weeks of trading to buy back these bearish bets, at TNDM's average daily volume.

• XENT is also taking it on the chin today -- and on the SSR list -- behind just CEMP and TNDM on the list of worst Nasdaq stocks, with the shares trading 42.7% lower at $8.43, and just off a record low of $7.65. XENT is due to report earnings this evening, but the stock is plunging after an unfavorable rule change from the Centers for Medicare & Medicaid Services (CMS). J.P. Morgan Securities downgraded XENT to "neutral" from "overweight," and cut its price target to $16 from $25, citing potential revenue headwinds to XENT's sinus surgery implant, Propel, stemming from the new CMS reimbursement rules. Likewise, Canaccord Genuity noted "heightened concerns about 2017 growth projections given yesterday's CMS final rule," but maintained a "buy" rating. Intersect ENT Inc (NASDAQ:XENT) sports a Schaeffer's put/call open interest ratio (SOIR) of a whopping 25.86, which sits in the 97th percentile of its annual range, suggesting short-term option players have rarely been more put-skewed over the last 12 months.

• On the other side of the spectrum, EGRX is among the top Nasdaq performers today, trading up 20.9% at $69.18, after the CMS established a specific billing code for its BENDEKA blood cancer injection. Boosting the shares even further is some optimistic analyst attention from William Blair, which raised its target price to $97 from $83. The biotech has spent most of 2016 attempting to recover from a March bear gap, and has more than doubled from its mid-April lows. In the option pits, Eagle Pharmaceuticals Inc (NASDAQ:EGRX) bulls are likely cheering today's news, given the stock's 50-day call/put volume ratio of 11.36 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits higher than 93% of all other readings from the past year.