JMP Securities Reiterates “Market Outperform” Rating for SI-BONE (NASDAQ:SIBN)

SI-BONE (NASDAQ:SIBN)‘s stock had its “market outperform” rating reaffirmed by JMP Securities in a research note issued on Tuesday, Benzinga reports. They currently have a $32.00 price target on the stock. JMP Securities’ price target suggests a potential upside of 113.33% from the stock’s previous close.

SIBN has been the topic of a number of other research reports. Needham & Company LLC restated a “buy” rating and issued a $27.00 price target on shares of SI-BONE in a research report on Tuesday. Morgan Stanley decreased their price target on SI-BONE from $26.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday. Truist Financial restated a “buy” rating and issued a $24.00 price target (down previously from $26.00) on shares of SI-BONE in a research report on Tuesday, February 27th. Piper Sandler started coverage on SI-BONE in a research report on Thursday, March 28th. They issued an “overweight” rating and a $25.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 price objective on shares of SI-BONE in a research note on Tuesday, February 27th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, SI-BONE currently has an average rating of “Buy” and a consensus target price of $27.29.

SI-BONE Stock Down 4.3 %

SIBN stock opened at $15.00 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 9.01 and a quick ratio of 8.15. The stock has a market capitalization of $618 million, a price-to-earnings ratio of -13.16 and a beta of 1.24. The business’s fifty day moving average price is $15.78 and its two-hundred day moving average price is $17.99. SI-BONE has a fifty-two week low of $13.96 and a fifty-two week high of $29.51.

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

Insider Activity at SI-BONE

In other news, insider Anthony J. Recupero sold 3,330 shares of SI-BONE stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $16.82, for a total transaction of $56,010.60. Following the sale, the insider now directly owns 255,760 shares of the company’s stock, valued at $4,301,883.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Anthony J. Recupero sold 3,330 shares of SI-BONE 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 transaction, the insider now directly owns 255,760 shares of the company’s stock, valued at $4,301,883.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Anshul Maheshwari sold 2,425 shares of SI-BONE stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $15.45, for a total value of $37,466.25. Following the completion of the transaction, the chief financial officer now directly owns 205,516 shares in the company, valued at $3,175,222.20. The disclosure for this sale can be found here. Insiders have sold 11,905 shares of company stock valued at $190,273 over the last ninety days. 5.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SI-BONE

Hedge funds and other institutional investors have recently made changes to their positions in the stock. RiverPark Advisors LLC acquired a new position in shares of SI-BONE in the third quarter worth approximately $55,000. Amalgamated Bank lifted its stake in shares of SI-BONE by 12.9% in the fourth quarter. Amalgamated Bank now owns 5,877 shares of the company’s stock worth $123,000 after acquiring an additional 673 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in SI-BONE by 48.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,435 shares of the company’s stock worth $158,000 after purchasing an additional 2,437 shares in the last quarter. Arizona State Retirement System increased its holdings in SI-BONE by 7.7% in the fourth quarter. Arizona State Retirement System now owns 10,675 shares of the company’s stock worth $224,000 after purchasing an additional 762 shares in the last quarter. Finally, Semanteon Capital Management LP bought a new stake in SI-BONE in the fourth quarter worth approximately $251,000. 98.11% of the stock is owned by institutional investors and hedge funds.

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.