SI-BONE (NASDAQ:SIBN) Research Coverage Started at Piper Sandler

Piper Sandler started coverage on shares of SI-BONE (NASDAQ:SIBN) in a research report issued to clients and investors on Thursday, Briefing.com reports. The firm set an “overweight” rating and a $25.00 price target on the stock. Piper Sandler’s price target would indicate a potential upside of 58.03% from the company’s current price.

Several other equities research analysts have also commented on the company. Morgan Stanley upped their price target on SI-BONE from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Truist Financial restated a “buy” rating and set a $24.00 price target (down from $26.00) on shares of SI-BONE in a research note on Tuesday, February 27th. Needham & Company LLC restated a “buy” rating and set a $25.00 price target on shares of SI-BONE in a research note on Monday, December 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $25.00 price target on shares of SI-BONE in a research note on Tuesday, February 27th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SI-BONE has a consensus rating of “Buy” and an average target price of $26.33.

SI-BONE Stock Performance

NASDAQ SIBN opened at $15.82 on Thursday. The business’s 50-day moving average price is $18.70 and its 200 day moving average price is $19.05. SI-BONE has a twelve month low of $14.88 and a twelve month high of $29.51. The company has a market capitalization of $649.57 million, a PE ratio of -13.88 and a beta of 1.20. The company has a current ratio of 9.01, a quick ratio of 8.15 and a debt-to-equity ratio of 0.21.

SI-BONE (NASDAQ:SIBN) last released its earnings results on Monday, February 26th. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $38.86 million for the quarter, compared to the consensus estimate of $38.60 million. On average, research analysts predict that SI-BONE will post -0.97 earnings per share for the current year.

Insider Activity

In other news, Director Mika Nishimura sold 2,500 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $16.22, for a total value of $40,550.00. Following the completion of the sale, the director now owns 19,350 shares in the company, valued at $313,857. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Timothy E. Davis, Jr. sold 9,900 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $20.93, for a total value of $207,207.00. Following the completion of the sale, the director now owns 22,361 shares in the company, valued at $468,015.73. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mika Nishimura sold 2,500 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $16.22, for a total value of $40,550.00. Following the completion of the sale, the director now owns 19,350 shares of the company’s stock, valued at approximately $313,857. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,136 shares of company stock worth $375,040. 5.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SI-BONE

A number of large investors have recently modified their holdings of SIBN. Brown Advisory Inc. boosted its holdings in SI-BONE by 5.4% in the fourth quarter. Brown Advisory Inc. now owns 4,207,703 shares of the company’s stock valued at $88,320,000 after purchasing an additional 214,089 shares during the last quarter. BlackRock Inc. boosted its holdings in SI-BONE by 10.6% in the second quarter. BlackRock Inc. now owns 3,041,535 shares of the company’s stock valued at $82,061,000 after purchasing an additional 291,111 shares during the last quarter. First Light Asset Management LLC boosted its holdings in SI-BONE by 0.9% in the fourth quarter. First Light Asset Management LLC now owns 2,547,392 shares of the company’s stock valued at $53,470,000 after purchasing an additional 23,299 shares during the last quarter. Vanguard Group Inc. boosted its holdings in SI-BONE by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 2,419,831 shares of the company’s stock valued at $50,792,000 after purchasing an additional 111,315 shares during the last quarter. Finally, Granahan Investment Management LLC boosted its holdings in SI-BONE by 13.2% in the fourth quarter. Granahan Investment Management LLC now owns 1,286,450 shares of the company’s stock valued at $27,003,000 after purchasing an additional 150,217 shares during the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

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.