SI-BONE, Inc. (NASDAQ:SIBN) Receives $38.00 Average Price Target from Analysts

Shares of SI-BONE, Inc. (NASDAQ:SIBN) have been assigned an average recommendation of “Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $38.00.

Several brokerages have weighed in on SIBN. Truist cut their price target on SI-BONE from $43.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, September 30th. Needham & Company LLC reiterated a “buy” rating and set a $37.00 price target (down previously from $42.00) on shares of SI-BONE in a report on Tuesday, August 3rd. Morgan Stanley reduced their price objective on shares of SI-BONE from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, August 3rd. Finally, Truist Securities cut their price target on SI-BONE from $43.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, September 30th.

In other news, CEO Laura Francis sold 4,849 shares of the company’s stock in a transaction on Monday, August 16th. The stock was sold at an average price of $20.46, for a total transaction of $99,210.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony J. Recupero sold 3,384 shares of the firm’s stock in a transaction dated Monday, August 16th. The shares were sold at an average price of $20.46, for a total value of $69,236.64. The disclosure for this sale can be found here. Insiders have sold a total of 18,299 shares of company stock valued at $400,784 over the last 90 days. Insiders own 7.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new stake in SI-BONE during the second quarter valued at about $34,000. Altshuler Shaham Ltd purchased a new position in shares of SI-BONE in the first quarter worth approximately $42,000. Webster Bank N. A. purchased a new position in shares of SI-BONE in the third quarter worth approximately $36,000. Point72 Hong Kong Ltd increased its position in shares of SI-BONE by 21.8% in the first quarter. Point72 Hong Kong Ltd now owns 2,154 shares of the company’s stock worth $69,000 after acquiring an additional 385 shares in the last quarter. Finally, Maverick Capital Ltd. purchased a new position in shares of SI-BONE in the first quarter worth approximately $110,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.

NASDAQ SIBN traded up $0.17 on Monday, reaching $22.67. 983 shares of the company were exchanged, compared to its average volume of 314,182. The company has a current ratio of 15.77, a quick ratio of 15.13 and a debt-to-equity ratio of 0.26. The business’s fifty day moving average price is $22.71 and its 200 day moving average price is $28.43. The stock has a market capitalization of $754.25 million, a P/E ratio of -16.07 and a beta of 1.40. SI-BONE has a fifty-two week low of $19.26 and a fifty-two week high of $37.21.

SI-BONE (NASDAQ:SIBN) last announced its quarterly earnings results on Sunday, August 1st. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.03). The company had revenue of $22.19 million for the quarter, compared to analyst estimates of $22.02 million. SI-BONE had a negative net margin of 52.47% and a negative return on equity of 30.43%. Equities research analysts forecast that SI-BONE will post -1.61 earnings per share for the current year.

About SI-BONE

SI-BONE, Inc engages in the provision of implantable devices used in the surgical treatment of the sacropelvic anatomy. It offers a proprietary minimally invasive surgical implant system, called iFuse, used to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that often causes severe lower back pain.

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Analyst Recommendations for SI-BONE (NASDAQ:SIBN)

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