SiBone (NASDAQ:SIBN) Raised to “Buy” at Wall Street Zen

SiBone (NASDAQ:SIBN) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other equities analysts also recently issued reports about the company. Truist Financial reiterated a “buy” rating and set a $24.00 target price (up from $23.00) on shares of SiBone in a research report on Tuesday, February 24th. TD Cowen lifted their price target on SiBone from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Morgan Stanley upped their price objective on shares of SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Needham & Company LLC increased their price objective on shares of SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Finally, Canaccord Genuity Group raised their target price on shares of SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, SiBone currently has an average rating of “Moderate Buy” and an average price target of $24.67.

SiBone Stock Down 4.3%

SIBN stock opened at $12.29 on Friday. The company has a 50 day moving average price of $15.02 and a two-hundred day moving average price of $16.47. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.21 and a current ratio of 8.55. The stock has a market capitalization of $542.85 million, a P/E ratio of -27.93 and a beta of 0.69. SiBone has a one year low of $12.29 and a one year high of $21.89.

SiBone (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%.The company had revenue of $56.35 million for the quarter, compared to analyst estimates of $56.26 million. As a group, sell-side analysts expect that SiBone will post -0.78 EPS for the current year.

Insider Transactions at SiBone

In other news, SVP Michael A. Pisetsky sold 20,756 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $15.35, for a total value of $318,604.60. Following the transaction, the senior vice president directly owned 285,974 shares in the company, valued at $4,389,700.90. This trade represents a 6.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Laura Francis sold 93,475 shares of SiBone stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $15.32, for a total value of $1,432,037.00. Following the completion of the transaction, the chief executive officer directly owned 544,369 shares in the company, valued at $8,339,733.08. This represents a 14.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 193,611 shares of company stock valued at $3,136,244 in the last ninety days. Company insiders own 4.00% of the company’s stock.

Institutional Trading of SiBone

A number of institutional investors and hedge funds have recently bought and sold shares of SIBN. First Eagle Investment Management LLC lifted its position in SiBone by 36.6% during the third quarter. First Eagle Investment Management LLC now owns 484,261 shares of the company’s stock valued at $7,128,000 after buying an additional 129,723 shares in the last quarter. 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. Y Intercept Hong Kong Ltd increased its position in shares of SiBone by 337.7% in the third quarter. Y Intercept Hong Kong Ltd now owns 83,369 shares of the company’s stock worth $1,227,000 after acquiring an additional 64,322 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of SiBone in the 3rd quarter valued at $3,297,000. Finally, Divisadero Street Capital Management LP raised its stake in shares of SiBone by 17.8% in the 2nd quarter. Divisadero Street Capital Management LP now owns 339,791 shares of the company’s stock valued at $6,395,000 after acquiring an additional 51,363 shares during the period. Institutional investors and hedge funds own 98.11% of the company’s stock.

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.