Analysts Set SI-BONE, Inc. (NASDAQ:SIBN) Price Target at $27.29

SI-BONE, Inc. (NASDAQ:SIBN) has been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have covered the stock in the last year is $27.29.

Several equities research analysts have recently weighed in on SIBN shares. JMP Securities reiterated a “market outperform” rating and set a $32.00 target price on shares of SI-BONE in a research note on Tuesday. Truist Financial reiterated a “buy” rating and issued a $24.00 target price (down from $26.00) on shares of SI-BONE in a research note on Tuesday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $27.00 target price on shares of SI-BONE in a report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price target on shares of SI-BONE in a report on Tuesday, February 27th. Finally, Morgan Stanley dropped their price objective on shares of SI-BONE from $26.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday.

SI-BONE Price Performance

SIBN stock opened at $15.54 on Tuesday. The business has a 50 day simple moving average of $15.74 and a 200-day simple moving average of $17.97. The company has a market capitalization of $640.31 million, a P/E ratio of -14.26 and a beta of 1.24. SI-BONE has a twelve month low of $13.96 and a twelve month high of $29.51. The company has a current ratio of 9.01, a quick ratio of 8.15 and a debt-to-equity ratio of 0.21.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, February 26th. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.02. SI-BONE had a negative net margin of 31.20% and a negative return on equity of 28.22%. The firm had revenue of $38.86 million during the quarter, compared to analysts’ expectations of $38.60 million. As a group, equities analysts anticipate that SI-BONE will post -0.98 EPS for the current year.

Insider Activity

In related news, Director Mika Nishimura sold 2,500 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $16.22, for a total transaction of $40,550.00. Following the transaction, the director now owns 19,350 shares of the company’s stock, valued at $313,857. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Anthony J. Recupero sold 3,330 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $16.82, for a total value of $56,010.60. Following the completion of the transaction, the insider now directly owns 255,760 shares of the company’s stock, valued at approximately $4,301,883.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mika Nishimura sold 2,500 shares of SI-BONE stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $16.22, for a total value of $40,550.00. Following the transaction, the director now directly owns 19,350 shares of the company’s stock, valued at $313,857. The disclosure for this sale can be found here. Insiders sold 11,905 shares of company stock valued at $190,273 in the last three months. 5.40% of the stock is currently owned by company insiders.

Institutional Trading of SI-BONE

Large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in SI-BONE by 48.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,435 shares of the company’s stock valued at $158,000 after acquiring an additional 2,437 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of SI-BONE by 2.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 678,360 shares of the company’s stock worth $14,408,000 after purchasing an additional 17,449 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of SI-BONE by 1.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 218,325 shares of the company’s stock worth $4,637,000 after purchasing an additional 3,335 shares in the last quarter. Barclays PLC raised its position in shares of SI-BONE by 63.2% during the 3rd quarter. Barclays PLC now owns 24,286 shares of the company’s stock worth $516,000 after purchasing an additional 9,402 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its stake in SI-BONE by 35.7% in the 3rd quarter. Impax Asset Management Group plc now owns 475,343 shares of the company’s stock valued at $10,096,000 after buying an additional 125,000 shares in the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

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.