Piper Sandler analyst Matt O'Brien keeps his Neutral rating and $21 price target on Intersect ENT after its in-line preliminary FY19 revenue guidance and initial FY20 forecast that fell a "bit short" of consensus. The analyst believes that the company is on the right path toward increasing the patient access to SINUVA, with underlying demand gained by PROPEL also seen as "something to monitor". O'Brien adds however that before he can turn more constructive on the name, he needs to see a longer track record of Intersect ENT executing on its strategy.