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

Silk Road Medical, Inc (NASDAQ:SILK) has been given an average recommendation of “Reduce” by the ten brokerages that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $21.50.

Several brokerages have commented on SILK. JPMorgan Chase & Co. raised their price target on shares of Silk Road Medical from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Argus lowered shares of Silk Road Medical from a “buy” rating to a “sell” rating in a research note on Thursday, July 11th. Stifel Nicolaus restated a “hold” rating and issued a $27.50 price target (up previously from $23.00) on shares of Silk Road Medical in a research note on Wednesday, July 17th. Lake Street Capital reiterated a “hold” rating and set a $27.50 price objective (down previously from $28.00) on shares of Silk Road Medical in a research note on Tuesday, June 18th. Finally, Piper Sandler raised their price objective on shares of Silk Road Medical from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st.

Institutional Trading of Silk Road Medical

A number of large investors have recently added to or reduced their stakes in SILK. CWM LLC boosted its holdings in Silk Road Medical by 151.5% during the fourth quarter. CWM LLC now owns 2,563 shares of the company’s stock worth $31,000 after buying an additional 1,544 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Silk Road Medical by 1,293.9% in the 4th 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 during the period. Nisa Investment Advisors LLC boosted its stake in Silk Road Medical by 879.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,210 shares of the company’s stock worth $52,000 after purchasing an additional 3,780 shares during the period. Quest Partners LLC acquired a new position in Silk Road Medical in the 4th quarter worth approximately $62,000. Finally, Tower Research Capital LLC TRC boosted its stake in Silk Road Medical by 369.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,834 shares of the company’s stock worth $96,000 after purchasing an additional 6,165 shares during the period.

Silk Road Medical Price Performance

SILK opened at $27.01 on Friday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -19.72 and a beta of 1.52. Silk Road Medical has a fifty-two week low of $6.08 and a fifty-two week high of $27.19. The company’s 50-day moving average price is $24.65 and its 200 day moving average price is $19.75. The company has a quick ratio of 9.62, a current ratio of 11.05 and a debt-to-equity ratio of 0.52.

Silk Road Medical (NASDAQ:SILK) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.04. The firm had revenue of $48.50 million for the quarter, compared to analyst estimates of $44.67 million. Silk Road Medical had a negative net margin of 29.02% and a negative return on equity of 35.47%. Silk Road Medical’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.43) earnings per share. As a group, sell-side analysts expect that Silk Road Medical will post -1.43 earnings per share for the current year.

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.