Brokerages Set SiBone (NASDAQ:SIBN) Price Target at $24.29

Shares of SiBone (NASDAQ:SIBN) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $24.1667.

Several research analysts have recently commented on SIBN shares. UBS Group boosted their target price on SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Weiss Ratings cut SiBone from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 5th. TD Cowen lifted their price objective on SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Wall Street Zen lowered SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Truist Financial restated a “buy” rating and set a $23.00 target price (up from $21.00) on shares of SiBone in a report on Tuesday, August 4th.

SiBone Stock Down 0.2%

Shares of NASDAQ SIBN opened at $18.80 on Friday. SiBone has a 52-week low of $11.48 and a 52-week high of $21.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.55 and a current ratio of 9.15. The business has a fifty day moving average of $16.81 and a two-hundred day moving average of $15.18. The stock has a market cap of $833.76 million, a PE ratio of -55.29 and a beta of 0.66.

SiBone (NASDAQ:SIBN) last announced its earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.06. The business had revenue of $56.01 million during the quarter, compared to analysts’ expectations of $55.34 million. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.23%. As a group, equities research analysts expect that SiBone will post -0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SiBone news, Director Timothy E. Davis, Jr. sold 3,780 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $14.47, for a total value of $54,696.60. Following the transaction, the director directly owned 69,222 shares in the company, valued at approximately $1,001,642.34. This trade represents a 5.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Anshul Maheshwari sold 3,317 shares of SiBone stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $16.77, for a total value of $55,626.09. Following the completion of the sale, the chief financial officer directly owned 256,560 shares of the company’s stock, valued at $4,302,511.20. This trade represents a 1.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 55,989 shares of company stock valued at $910,429 over the last three months. Company insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On SiBone

Several hedge funds have recently added to or reduced their stakes in the company. First Light Asset Management LLC grew its position in shares of SiBone by 6.4% during the 1st quarter. First Light Asset Management LLC now owns 5,353,190 shares of the company’s stock worth $67,611,000 after buying an additional 320,286 shares during the period. Vanguard Group Inc. lifted its stake in shares of SiBone by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 2,501,555 shares of the company’s stock valued at $49,331,000 after purchasing an additional 11,566 shares during the period. Granahan Investment Management LLC lifted its stake in shares of SiBone by 97.6% in the 1st quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock valued at $21,965,000 after purchasing an additional 858,942 shares during the period. Nuveen LLC boosted its position in shares of SiBone by 5.1% in the 4th quarter. Nuveen LLC now owns 1,421,946 shares of the company’s stock worth $28,041,000 after purchasing an additional 69,229 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its position in shares of SiBone by 17.1% in the 4th quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company’s stock worth $23,664,000 after purchasing an additional 175,000 shares during the last quarter. Institutional investors own 98.11% of the company’s stock.

SiBone Company Profile

Si-BONE, Inc is a commercial‐stage medical device company focused on the design, development and commercialization of implant systems to treat degenerative conditions of the sacroiliac (SI) joint. Its flagship product, the iFuse Implant System, consists of triangular titanium implants that are inserted via a minimally invasive surgical procedure to stabilize the SI joint and alleviate chronic lower back and buttock pain.

FDA‐cleared in 2012, the iFuse portfolio has expanded to include the iFuse-3D and iFuse-3Di devices, which feature a porous, 3D-printed surface to promote bone ongrowth and biological fixation.