SiBone (NASDAQ:SIBN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of SiBone (NASDAQ:SIBN) have been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $25.00.

Several analysts have recently commented on SIBN shares. 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 report on Thursday, December 18th. Needham & Company LLC upped their price objective on shares of SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiBone in a research report on Monday, December 29th. Canaccord Genuity Group boosted their target price on SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Finally, Morgan Stanley upped their target price on SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd.

SiBone Stock Performance

Shares of SiBone stock opened at $16.93 on Wednesday. SiBone has a 52 week low of $12.49 and a 52 week high of $21.89. The company has a quick ratio of 6.62, a current ratio of 7.97 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $19.16 and a 200-day moving average price of $17.06. The company has a market cap of $734.59 million, a PE ratio of -33.20 and a beta of 0.69.

SiBone (NASDAQ:SIBN) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.11) earnings per share (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 business had revenue of $48.66 million during the quarter, compared to the consensus estimate of $46.67 million. Equities analysts anticipate that SiBone will post -0.78 earnings per share for the current fiscal year.

Insider Transactions at SiBone

In other news, SVP Michael A. Pisetsky sold 19,600 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $20.15, for a total transaction of $394,940.00. Following the completion of the sale, the senior vice president directly owned 231,896 shares of the company’s stock, valued at $4,672,704.40. This trade represents a 7.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Anthony J. Recupero sold 3,833 shares of the business’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 trade represents a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 207,886 shares of company stock worth $3,996,367. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On SiBone

Large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its position in shares of SiBone by 0.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 225,001 shares of the company’s stock valued at $4,437,000 after buying an additional 997 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in SiBone by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock valued at $343,000 after acquiring an additional 1,053 shares during the last quarter. Tudor Investment Corp ET AL raised its position in SiBone by 0.8% during the third quarter. Tudor Investment Corp ET AL now owns 258,032 shares of the company’s stock valued at $3,798,000 after purchasing an additional 1,968 shares in the last quarter. Franklin Resources Inc. lifted its stake in SiBone by 8.3% during the third quarter. Franklin Resources Inc. now owns 29,018 shares of the company’s stock worth $427,000 after purchasing an additional 2,228 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of SiBone in the 3rd quarter worth about $39,000. Hedge funds and other institutional investors 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.