Silk Road Medical (NASDAQ:SILK) Now Covered by Analysts at Argus

Argus started coverage on shares of Silk Road Medical (NASDAQ:SILK) in a research report released on Tuesday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $52.00 price target on the stock.

A number of other research firms also recently issued reports on SILK. Stifel Nicolaus started coverage on shares of Silk Road Medical in a report on Monday, April 29th. They issued a buy rating and a $44.00 price objective on the stock. Zacks Investment Research downgraded shares of Silk Road Medical from a buy rating to a hold rating in a report on Friday, August 2nd. BMO Capital Markets started coverage on shares of Silk Road Medical in a report on Monday, April 29th. They issued an outperform rating and a $40.01 price objective on the stock. JPMorgan Chase & Co. started coverage on shares of Silk Road Medical in a report on Monday, April 29th. They issued an overweight rating and a $45.00 price objective on the stock. Finally, Bank of America started coverage on shares of Silk Road Medical in a report on Monday, April 29th. They issued a neutral rating and a $43.00 price objective on the stock. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $45.00.

SILK opened at $41.13 on Tuesday. The company has a current ratio of 14.32, a quick ratio of 13.38 and a debt-to-equity ratio of 0.53. The business has a 50 day simple moving average of $41.20. Silk Road Medical has a 12-month low of $30.87 and a 12-month high of $51.50.

Silk Road Medical (NASDAQ:SILK) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.14). The company had revenue of $14.93 million for the quarter, compared to the consensus estimate of $13.64 million. The company’s quarterly revenue was up 92.2% on a year-over-year basis. On average, equities research analysts predict that Silk Road Medical will post -2.02 earnings per share for the current year.

In other Silk Road Medical news, major shareholder Pincus & Co. Warburg sold 630,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $39.50, for a total transaction of $24,885,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can bought a new stake in Silk Road Medical during the 2nd quarter worth approximately $28,000. Elkfork Partners LLC bought a new stake in Silk Road Medical during the 2nd quarter worth approximately $30,000. Meadow Creek Investment Management LLC bought a new stake in Silk Road Medical during the 2nd quarter worth approximately $36,000. FNY Investment Advisers LLC bought a new stake in Silk Road Medical during the 2nd quarter worth approximately $70,000. Finally, Advisor Group Inc. bought a new stake in Silk Road Medical during the 2nd quarter worth approximately $78,000. Institutional investors own 15.54% of the company’s stock.

Silk Road Medical Company Profile

Silk Road Medical, Inc operates as a medical device company in the United States. It offers ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and initiate temporary blood flow reversal; ENROUTE Transcarotid Stent System, a self-expanding, self-tapering stent with clinical data regarding lasting safety outcomes; ENHANCE Transcarotid Peripheral Access Kit for use in gaining initial access to the common carotid artery; and ENROUTE 0.014 Guidewire for navigating and crossing the target lesion for delivery of interventional devices.

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Analyst Recommendations for Silk Road Medical (NASDAQ:SILK)

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