Silk Road Medical, Inc (NASDAQ:SILK) Receives $21.50 Consensus Target Price from Analysts

Shares of Silk Road Medical, Inc (NASDAQ:SILK) have been given a consensus rating of “Reduce” by the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $21.50.

SILK has been the subject of several research reports. Stifel Nicolaus reaffirmed a “hold” rating and issued a $27.50 target price (up from $23.00) on shares of Silk Road Medical in a research report on Wednesday, July 17th. JPMorgan Chase & Co. upped their target price on shares of Silk Road Medical from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Lake Street Capital reissued a “hold” rating and issued a $27.50 price target (down previously from $28.00) on shares of Silk Road Medical in a research report on Tuesday, June 18th. Argus downgraded shares of Silk Road Medical from a “buy” rating to a “sell” rating in a research note on Thursday, July 11th. Finally, Piper Sandler increased their price objective on Silk Road Medical from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st.

Silk Road Medical Stock Performance

NASDAQ:SILK opened at $27.08 on Thursday. Silk Road Medical has a fifty-two week low of $6.08 and a fifty-two week high of $27.23. The company has a debt-to-equity ratio of 0.49, a quick ratio of 6.69 and a current ratio of 7.63. The company has a 50 day moving average price of $26.52 and a 200 day moving average price of $21.37. The stock has a market capitalization of $1.10 billion, a P/E ratio of -19.77 and a beta of 1.52.

Silk Road Medical (NASDAQ:SILK) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.04). The firm had revenue of $51.20 million for the quarter, compared to analysts’ expectations of $49.74 million. Silk Road Medical had a negative return on equity of 37.30% and a negative net margin of 29.53%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.35) earnings per share. Equities research analysts forecast that Silk Road Medical will post -1.44 EPS for the current year.

Institutional Investors Weigh In On Silk Road Medical

Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of Silk Road Medical by 1,293.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,523 shares of the company’s stock worth $31,000 after purchasing an additional 2,342 shares in the last quarter. CWM LLC lifted its holdings in Silk Road Medical by 151.5% during the 4th quarter. CWM LLC now owns 2,563 shares of the company’s stock worth $31,000 after buying an additional 1,544 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Silk Road Medical by 879.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,210 shares of the company’s stock worth $52,000 after acquiring an additional 3,780 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Silk Road Medical in the 4th quarter valued at about $62,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Silk Road Medical during the 1st quarter worth about $109,000.

About Silk Road Medical

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 (TCAR). Its products comprise ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and establish temporary blood flow reversal; ENROUTE Transcarotid Stent System for transcarotid access; ENHANCE Transcarotid Peripheral Access Kit, which is used to gain initial access to the common carotid artery; ENROUTE 0.014 Guidewire for atraumatic vessel navigation and target lesion crossing for delivery of interventional devices; and ENROUTE Enflate Transcarotid RX Balloon Dilation Catheter, a transcarotid rapid exchange balloon for the TCAR procedure.