SiBone (NASDAQ:SIBN) Price Target Raised to $27.00

SiBone (NASDAQ:SIBN) had its price target upped by Canaccord Genuity Group from $26.00 to $27.00 in a report published on Wednesday, MarketBeat reports. The brokerage currently has a buy rating on the stock.

Several other research firms also recently weighed in on SIBN. Weiss Ratings reissued a “sell (e+)” rating on shares of SiBone in a research report on Monday. Morgan Stanley lifted their price objective on shares of SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Truist Financial increased their target price on shares of SiBone from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC raised their target price on shares of SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.00.

SiBone Stock Up 0.6%

Shares of NASDAQ SIBN opened at $20.38 on Wednesday. The company has a current ratio of 7.97, a quick ratio of 6.62 and a debt-to-equity ratio of 0.21. SiBone has a 12-month low of $12.49 and a 12-month high of $20.80. The firm’s 50-day moving average price is $17.42 and its 200-day moving average price is $16.88. The stock has a market capitalization of $884.29 million, a price-to-earnings ratio of -39.96 and a beta of 0.76.

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

Insiders Place Their Bets

In other news, CFO Anshul Maheshwari sold 18,542 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $20.15, for a total value of $373,621.30. Following the transaction, the chief financial officer directly owned 185,231 shares in the company, valued at approximately $3,732,404.65. This represents a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Anthony J. Recupero sold 3,833 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $17.44, for a total transaction of $66,847.52. Following the completion of the transaction, the insider directly owned 268,144 shares in the company, valued at $4,676,431.36. This represents a 1.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 185,270 shares of company stock valued at $3,466,814. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On SiBone

A number of hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new position in shares of SiBone during the third quarter worth approximately $39,000. State of Wyoming bought a new position in SiBone in the second quarter worth approximately $55,000. Virtus Advisers LLC purchased a new position in SiBone during the 1st quarter worth $58,000. Canada Pension Plan Investment Board bought a new stake in SiBone during the 2nd quarter valued at $68,000. Finally, Quarry LP raised its position in SiBone by 862.6% during the 3rd quarter. Quarry LP now owns 4,861 shares of the company’s stock valued at $72,000 after purchasing an additional 4,356 shares in the last quarter. 98.11% of the stock is currently owned by institutional investors.

Key Stores Impacting SiBone

Here are the key news stories impacting SiBone this week:

• Positive Sentiment: Canaccord raised its price target on SIBN from $26 to $27 and maintained a Buy rating, signaling stronger upside expectations that support further upside for the shares. Read More.
• Positive Sentiment: Truist increased its price target from $21 to $23 and kept a Buy rating, adding incremental broker support for the stock’s near-term rally. Read More.
• Positive Sentiment: Needham published a bullish forecast calling for strong price appreciation for SIBN, adding another institutional voice to the buy-side narrative. Read More.
• Positive Sentiment: Market headlines reported SIBN trading up roughly 5.4% after analyst upgrades, reflecting immediate market reaction to the research updates and lifting momentum. Read More.
• Negative Sentiment: CFO Anshul Maheshwari sold 18,542 shares at an average price of $20.15 (total ~$373,621); the filing shows his holding decreased about 9.1%. Insider selling can raise short-term concern about insider conviction, even if sales are for personal reasons. Read More.
• Negative Sentiment: SVP Michael A. Pisetsky sold 19,600 shares at an average of $20.15 (total ~$394,940); his position fell ~7.8% after the trade. Multiple insider disposals the same day can amplify investor caution. Read More.

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.