Analysts Set SI-BONE, Inc. (NASDAQ:SIBN) Target Price at $23.00

Shares of SI-BONE, Inc. (NASDAQ:SIBN) have received an average rating of “Buy” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $23.00.

Several research analysts have recently commented on SIBN shares. Needham & Company LLC dropped their price target on shares of SI-BONE from $27.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Truist Financial dropped their price target on shares of SI-BONE from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Morgan Stanley dropped their price target on shares of SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th.

SI-BONE Stock Up 6.0 %

SIBN stock opened at $14.68 on Friday. SI-BONE has a 12 month low of $11.76 and a 12 month high of $22.56. The firm has a market cap of $604.89 million, a PE ratio of -13.47 and a beta of 1.22. The firm has a 50 day simple moving average of $14.95 and a 200 day simple moving average of $14.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 9.17 and a quick ratio of 8.12.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.04. SI-BONE had a negative net margin of 27.10% and a negative return on equity of 24.27%. The business had revenue of $39.97 million during the quarter, compared to the consensus estimate of $38.95 million. During the same quarter in the prior year, the firm earned ($0.30) EPS. Equities research analysts forecast that SI-BONE will post -0.89 earnings per share for the current fiscal year.

Insider Activity at SI-BONE

In related news, insider Anthony J. Recupero sold 2,087 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $14.17, for a total value of $29,572.79. Following the transaction, the insider now directly owns 236,717 shares in the company, valued at approximately $3,354,279.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Anthony J. Recupero sold 2,087 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $14.17, for a total value of $29,572.79. Following the transaction, the insider now directly owns 236,717 shares in the company, valued at approximately $3,354,279.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Anthony J. Recupero sold 3,305 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $13.58, for a total transaction of $44,881.90. Following the completion of the transaction, the insider now owns 233,412 shares in the company, valued at $3,169,734.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,019 shares of company stock worth $349,879. 5.40% of the stock is owned by insiders.

Institutional Trading of SI-BONE

A number of hedge funds have recently bought and sold shares of SIBN. Canada Pension Plan Investment Board bought a new stake in SI-BONE in the 2nd quarter valued at $61,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in SI-BONE by 24.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock valued at $138,000 after purchasing an additional 2,108 shares during the period. Arizona State Retirement System boosted its holdings in SI-BONE by 9.0% in the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock valued at $141,000 after purchasing an additional 903 shares during the period. Deerfield Management Company L.P. Series C bought a new position in shares of SI-BONE during the 2nd quarter worth about $151,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of SI-BONE during the 2nd quarter worth about $152,000. 98.11% of the stock is owned by institutional investors.

SI-BONE Company Profile

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.