Brokerages Set SiBone (NASDAQ:SIBN) PT at $24.67

Shares of SiBone (NASDAQ:SIBN) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $24.6667.

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC boosted their target price on shares of SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Truist Financial restated a “buy” rating and issued a $24.00 target price (up from $23.00) on shares of SiBone in a report on Tuesday, February 24th. Canaccord Genuity Group boosted their target price 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 restated a “sell (d-)” rating on shares of SiBone in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of SiBone from a “hold” rating to a “buy” rating in a report on Saturday, March 28th.

Insider Transactions at SiBone

In related news, CFO Anshul Maheshwari sold 3,318 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $12.87, for a total value of $42,702.66. Following the completion of the sale, the chief financial officer directly owned 263,148 shares in the company, valued at approximately $3,386,714.76. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony J. Recupero sold 21,049 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $15.40, for a total transaction of $324,154.60. Following the sale, the insider owned 243,418 shares of the company’s stock, valued at approximately $3,748,637.20. This represents a 7.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 167,697 shares of company stock valued at $2,551,086 in the last quarter. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On SiBone

Several institutional investors have recently bought and sold shares of SIBN. First Light Asset Management LLC grew its stake in SiBone by 162.4% during the fourth quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock worth $99,249,000 after buying an additional 3,115,001 shares during the period. Cadian Capital Management LP grew its stake in SiBone by 96.8% during the fourth quarter. Cadian Capital Management LP now owns 1,171,100 shares of the company’s stock worth $23,094,000 after buying an additional 576,100 shares during the period. American Century Companies Inc. grew its stake in SiBone by 22.5% during the third quarter. American Century Companies Inc. now owns 2,838,107 shares of the company’s stock worth $41,777,000 after buying an additional 521,683 shares during the period. Wellington Management Group LLP grew its stake in SiBone by 74.7% during the third quarter. Wellington Management Group LLP now owns 853,266 shares of the company’s stock worth $12,560,000 after buying an additional 364,897 shares during the period. Finally, Impax Asset Management Group plc grew its stake in SiBone by 48.2% during the third quarter. Impax Asset Management Group plc now owns 1,025,010 shares of the company’s stock worth $15,088,000 after buying an additional 333,249 shares during the period. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

SiBone Stock Performance

NASDAQ:SIBN opened at $13.93 on Monday. The firm has a 50 day simple moving average of $14.40 and a 200-day simple moving average of $16.35. The company has a debt-to-equity ratio of 0.20, a current ratio of 8.55 and a quick ratio of 7.21. The firm has a market cap of $615.29 million, a PE ratio of -31.66 and a beta of 0.77. SiBone has a 1-year low of $12.15 and a 1-year high of $21.89.

SiBone (NASDAQ:SIBN) last released its earnings results on Monday, February 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.09. SiBone had a negative net margin of 9.41% and a negative return on equity of 11.01%. The firm had revenue of $56.35 million during the quarter, compared to the consensus estimate of $56.26 million. On average, equities analysts expect that SiBone will post -0.78 EPS for the current 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.