SiBone (NASDAQ:SIBN) Receives $24.17 Consensus Target Price from Brokerages

Shares of SiBone (NASDAQ:SIBN) have been assigned a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $24.1667.

A number of research firms recently weighed in on SIBN. TD Cowen raised their price target on shares of SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Truist Financial reiterated a “buy” rating and issued a $23.00 price objective (up from $21.00) on shares of SiBone in a research note on Tuesday, August 4th. Weiss Ratings raised shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. Finally, UBS Group upped their target price on SiBone from $24.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, August 4th.

SiBone Trading Down 1.1%

NASDAQ SIBN opened at $18.41 on Thursday. The firm has a market capitalization of $816.48 million, a P/E ratio of -54.15 and a beta of 0.70. The business has a fifty day simple moving average of $18.23 and a 200 day simple moving average of $15.64. SiBone has a 12 month low of $11.48 and a 12 month high of $21.89. The company has a current ratio of 9.15, a quick ratio of 7.55 and a debt-to-equity ratio of 0.20.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.06. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.23%. The firm had revenue of $56.01 million for the quarter, compared to the consensus estimate of $55.34 million. On average, analysts predict that SiBone will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other SiBone news, SVP Michael Pisetsky sold 3,725 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $18.63, for a total value of $69,396.75. Following the completion of the transaction, the senior vice president owned 273,650 shares in the company, valued at $5,098,099.50. This represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Anshul Maheshwari sold 11,636 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $20.11, for a total value of $233,999.96. Following the sale, the insider directly owned 223,284 shares of the company’s stock, valued at approximately $4,490,241.24. This represents a 4.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 165,231 shares of company stock worth $3,193,690 in the last ninety days. Company insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On SiBone

Several institutional investors have recently added to or reduced their stakes in SIBN. ANTIPODES PARTNERS Ltd bought a new stake in SiBone in the fourth quarter worth about $29,000. Versant Capital Management Inc grew its position in shares of SiBone by 102.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,749 shares of the company’s stock valued at $29,000 after acquiring an additional 887 shares during the period. Royal Bank of Canada grew its position in shares of SiBone by 98.5% during the 4th quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock valued at $29,000 after acquiring an additional 736 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of SiBone by 64,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the company’s stock worth $38,000 after purchasing an additional 1,941 shares during the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of SiBone during the 4th quarter worth approximately $53,000. Institutional investors own 98.11% of the company’s stock.

SiBone Company Profile

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.