Silk Road Medical, Inc (NASDAQ:SILK) Receives Consensus Rating of “Buy” from Brokerages

Silk Road Medical, Inc (NASDAQ:SILKGet Rating) has been assigned a consensus recommendation of “Buy” from the six research firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $50.80.

SILK has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on Silk Road Medical in a research note on Tuesday, April 5th. They issued an “outperform” rating and a $48.00 target price on the stock. Piper Sandler increased their target price on Silk Road Medical from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday, April 4th. Zacks Investment Research raised Silk Road Medical from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Citigroup reduced their target price on Silk Road Medical from $45.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, February 25th.

Shares of SILK stock opened at $35.05 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.81 and a current ratio of 5.49. Silk Road Medical has a 52-week low of $27.21 and a 52-week high of $67.49. The company has a market capitalization of $1.22 billion, a PE ratio of -24.34 and a beta of 1.59. The business’s fifty day moving average is $38.68 and its 200 day moving average is $41.77.

Silk Road Medical (NASDAQ:SILKGet Rating) last issued its quarterly earnings data on Thursday, February 24th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.02). Silk Road Medical had a negative return on equity of 54.63% and a negative net margin of 49.09%. The business had revenue of $28.27 million during the quarter, compared to analysts’ expectations of $25.91 million. During the same quarter last year, the business posted ($0.49) EPS. The company’s quarterly revenue was up 33.7% on a year-over-year basis. On average, sell-side analysts forecast that Silk Road Medical will post -1.58 EPS for the current fiscal year.

In other news, CEO Erica J. Rogers sold 30,000 shares of the firm’s stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $43.37, for a total transaction of $1,301,100.00. Following the transaction, the chief executive officer now directly owns 245,649 shares of the company’s stock, valued at $10,653,797.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 7.70% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC bought a new stake in shares of Silk Road Medical in the fourth quarter worth about $25,000. Rather & Kittrell Inc. bought a new stake in shares of Silk Road Medical in the fourth quarter worth about $29,000. Horan Securities Inc. bought a new stake in shares of Silk Road Medical in the fourth quarter worth about $37,000. Assetmark Inc. bought a new stake in shares of Silk Road Medical in the third quarter worth about $69,000. Finally, Citigroup Inc. grew its stake in shares of Silk Road Medical by 74.0% in the third quarter. Citigroup Inc. now owns 4,676 shares of the company’s stock worth $257,000 after purchasing an additional 1,988 shares during the last quarter.

Silk Road Medical Company Profile (Get Rating)

Silk Road Medical, Inc operates as a medical device company in the United States. The company offers various products for the treatment of carotid artery disease called transcarotid artery revascularization. Its products include ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and initiate temporary blood flow reversal; ENROUTE Transcarotid Stent System, a self-expanding, self-tapering stent; ENHANCE Transcarotid Peripheral Access Kit for use in gaining initial access to the common carotid artery; and ENROUTE 0.014 Guidewire for navigating and crossing the target lesion for delivery of interventional devices.

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Analyst Recommendations for Silk Road Medical (NASDAQ:SILK)

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