SiBone (NASDAQ:SIBN) Receives $25.00 Consensus Price Target from Brokerages

SiBone (NASDAQ:SIBN) has received an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $25.00.

A number of research firms have recently issued reports on SIBN. Canaccord Genuity Group boosted their price target on shares of SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiBone in a research note on Monday, December 29th. Truist Financial raised their target price on SiBone from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Morgan Stanley lifted their price target on SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Finally, Needham & Company LLC increased their price objective on SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th.

Insider Buying and Selling at SiBone

In other news, insider Anthony J. Recupero sold 3,677 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $19.62, for a total transaction of $72,142.74. Following the transaction, the insider directly owned 264,467 shares in the company, valued at $5,188,842.54. The trade was a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Anshul Maheshwari sold 5,229 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $19.64, for a total transaction of $102,697.56. Following the completion of the transaction, the chief financial officer directly owned 180,002 shares in the company, valued at $3,535,239.28. This trade represents a 2.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 207,886 shares of company stock valued at $3,996,367 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new position in SiBone during the third quarter valued at approximately $39,000. State of Wyoming acquired a new position in shares of SiBone during the 2nd quarter worth $55,000. Canada Pension Plan Investment Board bought a new position in shares of SiBone during the 2nd quarter valued at $68,000. Quarry LP lifted its stake in shares of SiBone by 862.6% in the 3rd quarter. Quarry LP now owns 4,861 shares of the company’s stock valued at $72,000 after purchasing an additional 4,356 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in SiBone by 198.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,897 shares of the company’s stock worth $92,000 after purchasing an additional 3,258 shares in the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

SiBone Price Performance

Shares of NASDAQ:SIBN opened at $16.80 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.62 and a current ratio of 7.97. The company has a market capitalization of $728.95 million, a PE ratio of -32.94 and a beta of 0.69. The stock has a fifty day moving average of $19.12 and a 200-day moving average of $17.03. SiBone has a one year low of $12.49 and a one year high of $21.89.

SiBone (NASDAQ:SIBN) last announced its earnings results on Monday, November 10th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.05. The business had revenue of $48.66 million during the quarter, compared to the consensus estimate of $46.67 million. SiBone had a negative return on equity of 12.86% and a negative net margin of 11.24%. As a group, equities analysts anticipate that SiBone will post -0.78 EPS for the current fiscal year.

About SiBone

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.