Needham & Company LLC Forecasts Strong Price Appreciation for SiBone (NASDAQ:SIBN) Stock

SiBone (NASDAQ:SIBN) had its price objective upped by analysts at Needham & Company LLC from $24.00 to $27.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 41.07% from the company’s current price.

Several other research analysts also recently commented on SIBN. Morgan Stanley raised their price objective on SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of SiBone in a research note on Monday, December 8th. Finally, Truist Financial decreased their price objective on SiBone from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, SiBone currently has a consensus rating of “Moderate Buy” and an average price target of $24.40.

SiBone Price Performance

SiBone stock opened at $19.14 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.97 and a quick ratio of 6.62. The stock has a market cap of $830.48 million, a price-to-earnings ratio of -37.53 and a beta of 0.76. The firm has a 50-day moving average of $17.22 and a two-hundred day moving average of $16.84. SiBone has a 1 year low of $12.49 and a 1 year high of $20.05.

SiBone (NASDAQ:SIBN) last issued its earnings results on Monday, November 10th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. SiBone had a negative net margin of 11.24% and a negative return on equity of 12.86%. The business had revenue of $48.66 million for the quarter, compared to analyst estimates of $46.67 million. On average, research analysts forecast that SiBone will post -0.78 earnings per share for the current year.

Insider Activity at SiBone

In other SiBone news, Director Jeffrey W. Dunn sold 18,759 shares of SiBone stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $19.33, for a total value of $362,611.47. Following the transaction, the director owned 110,115 shares in the company, valued at $2,128,522.95. The trade was a 14.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anshul Maheshwari sold 3,460 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $17.43, for a total transaction of $60,307.80. Following the completion of the transaction, the chief financial officer owned 205,073 shares of the company’s stock, valued at $3,574,422.39. This represents a 1.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 147,128 shares of company stock valued at $2,698,252 over the last 90 days. Company insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. grew its position in shares of SiBone by 7.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 573,705 shares of the company’s stock valued at $10,797,000 after buying an additional 40,993 shares during the last quarter. Palumbo Wealth Management LLC bought a new stake in SiBone in the 2nd quarter valued at about $577,000. Goldman Sachs Group Inc. increased its stake in shares of SiBone by 28.4% in the first quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock valued at $5,328,000 after purchasing an additional 83,919 shares during the period. Divisadero Street Capital Management LP raised its holdings in shares of SiBone by 17.8% during the second quarter. Divisadero Street Capital Management LP now owns 339,791 shares of the company’s stock valued at $6,395,000 after buying an additional 51,363 shares during the last quarter. Finally, Trexquant Investment LP grew its holdings in SiBone by 31.1% in the 1st quarter. Trexquant Investment LP now owns 115,114 shares of the company’s stock worth $1,615,000 after buying an additional 27,331 shares in the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

About SiBone

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.