Brokerages Set $49.67 Price Target for Silk Road Medical Inc (NASDAQ:SILK)

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Silk Road Medical Inc (NASDAQ:SILK) has been assigned an average broker rating score of 1.50 (Buy) from the four analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and three have issued a strong buy rating on the company.

Brokers have set a 1 year consensus target price of $49.67 for the company and are anticipating that the company will post ($0.28) EPS for the current quarter, according to Zacks. Zacks has also assigned Silk Road Medical an industry rank of 104 out of 256 based on the ratings given to its competitors.

A number of research firms have recently commented on SILK. BMO Capital Markets upped their target price on Discover Financial Services to $92.00 and gave the company a “market perform” rating in a research note on Monday, April 29th. Stifel Nicolaus reaffirmed a “hold” rating on shares of NEXT in a research note on Monday, April 29th. JPMorgan Chase & Co. set a €118.00 ($137.21) target price on Deutsche Boerse and gave the company a “neutral” rating in a research note on Monday, April 29th. Finally, Bank of America reaffirmed a “buy” rating and set a $420.00 target price (up previously from $400.00) on shares of Lendingtree in a research note on Monday, April 29th.

NASDAQ SILK traded down $0.57 during trading hours on Monday, hitting $40.38. 166,639 shares of the company were exchanged, compared to its average volume of 288,868. The stock has a 50-day moving average price of $45.37. Silk Road Medical has a 52 week low of $30.87 and a 52 week high of $51.50.

Silk Road Medical (NASDAQ:SILK) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($7.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($6.67). The business had revenue of $12.77 million during the quarter, compared to the consensus estimate of $12.28 million. As a group, equities analysts predict that Silk Road Medical will post -1.75 EPS for the current year.

An institutional investor recently bought a new position in Silk Road Medical stock. Norwest Venture Partners Xiii LP bought a new stake in shares of Silk Road Medical Inc (NASDAQ:SILK) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,461,974 shares of the company’s stock, valued at approximately $119,307,000. Silk Road Medical comprises about 100.0% of Norwest Venture Partners Xiii LP’s holdings, making the stock its biggest position. Norwest Venture Partners Xiii LP owned 8.03% of Silk Road Medical at the end of the most recent reporting period.

Silk Road Medical Company Profile

Silk Road Medical, Inc operates as a medical device company in the United States. It offers ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and initiate temporary blood flow reversal; ENROUTE Transcarotid Stent System, a self-expanding, self-tapering stent with clinical data regarding lasting safety outcomes; ENHANCE Transcarotid Peripheral Access Kit for use in gaining initial access to the common carotid artery; and ENROUTE 0.014 Guidewire for navigating and crossing the target lesion for delivery of interventional devices.

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