SiBone (NASDAQ:SIBN) Receives $24.67 Consensus PT from Brokerages

SiBone (NASDAQ:SIBN) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $24.6667.

SIBN has been the subject of several recent analyst reports. Canaccord Genuity Group boosted their price objective on SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Morgan Stanley boosted their price target 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 reissued a “buy” rating and issued a $24.00 price target (up from $23.00) on shares of SiBone in a report on Tuesday, February 24th. Weiss Ratings restated a “sell (d-)” rating on shares of SiBone in a research report on Monday, December 29th. Finally, TD Cowen lifted their price objective on shares of SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th.

Insiders Place Their Bets

In other news, CEO Laura Francis sold 93,475 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was 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 approximately $8,339,733.08. This represents a 14.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anshul Maheshwari sold 21,528 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $15.37, for a total value of $330,885.36. Following the transaction, the chief financial officer owned 266,466 shares in the company, valued at $4,095,582.42. This trade represents a 7.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 231,753 shares of company stock valued at $3,904,805 over the last quarter. Insiders own 4.00% of the company’s stock.

Institutional Trading of SiBone

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in SiBone by 98.5% in the fourth quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock worth $29,000 after buying an additional 736 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of SiBone by 0.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 225,001 shares of the company’s stock worth $4,437,000 after acquiring an additional 997 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of SiBone by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock worth $343,000 after acquiring an additional 1,053 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of SiBone by 42.3% in the 4th quarter. Larson Financial Group LLC now owns 3,569 shares of the company’s stock worth $70,000 after acquiring an additional 1,061 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of SiBone by 4.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,159 shares of the company’s stock worth $733,000 after acquiring an additional 1,459 shares during the last quarter. Institutional investors own 98.11% of the company’s stock.

SiBone Price Performance

NASDAQ SIBN opened at $13.05 on Thursday. The firm’s 50-day simple moving average is $16.28 and its two-hundred day simple moving average is $16.73. The company has a quick ratio of 7.21, a current ratio of 8.55 and a debt-to-equity ratio of 0.20. SiBone has a 52 week low of $12.49 and a 52 week high of $21.89. The company has a market cap of $576.35 million, a PE ratio of -29.66 and a beta of 0.69.

SiBone (NASDAQ:SIBN) last released its quarterly earnings data on Monday, February 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, beating 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. Research analysts predict that SiBone will post -0.78 earnings per share for the current year.

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.