Silk Road Medical, Inc (NASDAQ:SILK) Receives $22.18 Consensus Target Price from Analysts

Silk Road Medical, Inc (NASDAQ:SILK) has earned an average rating of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $22.18.

Several brokerages recently weighed in on SILK. Argus raised shares of Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, March 7th. Stifel Nicolaus lifted their target price on shares of Silk Road Medical from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Lake Street Capital initiated coverage on shares of Silk Road Medical in a research report on Wednesday, January 3rd. They issued a “buy” rating and a $20.00 target price for the company. Piper Sandler lifted their target price on shares of Silk Road Medical from $11.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Silk Road Medical from $10.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th.

Silk Road Medical Stock Performance

Shares of SILK opened at $17.42 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 7.95 and a quick ratio of 6.97. The firm has a 50 day moving average of $17.43 and a 200 day moving average of $13.13. Silk Road Medical has a twelve month low of $6.08 and a twelve month high of $46.57.

Silk Road Medical (NASDAQ:SILK) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.07. The company had revenue of $47.27 million during the quarter, compared to the consensus estimate of $42.23 million. Silk Road Medical had a negative net margin of 31.70% and a negative return on equity of 36.38%. Analysts predict that Silk Road Medical will post -1.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Silk Road Medical news, insider Andrew S. Davis sold 5,481 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total value of $94,108.77. Following the sale, the insider now owns 287,773 shares in the company, valued at approximately $4,941,062.41. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Andrew S. Davis sold 5,481 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total value of $94,108.77. Following the sale, the insider now directly owns 287,773 shares in the company, valued at approximately $4,941,062.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kevin J. Ballinger bought 11,700 shares of Silk Road Medical stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average price of $16.99 per share, for a total transaction of $198,783.00. Following the completion of the acquisition, the director now owns 17,807 shares in the company, valued at $302,540.93. The disclosure for this purchase can be found here. Insiders have sold a total of 20,457 shares of company stock worth $351,247 in the last 90 days. 6.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Silk Road Medical

A number of large investors have recently made changes to their positions in the business. Wasatch Advisors LP grew its holdings in Silk Road Medical by 12.4% during the 1st quarter. Wasatch Advisors LP now owns 4,549,742 shares of the company’s stock valued at $83,351,000 after purchasing an additional 500,581 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Silk Road Medical by 1,293.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,523 shares of the company’s stock valued at $31,000 after purchasing an additional 2,342 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Silk Road Medical by 707.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company’s stock valued at $24,675,000 after purchasing an additional 1,762,048 shares during the last quarter. Bullseye Asset Management LLC grew its holdings in Silk Road Medical by 17.9% during the 4th quarter. Bullseye Asset Management LLC now owns 131,718 shares of the company’s stock valued at $1,616,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Silk Road Medical by 18.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 33,415 shares of the company’s stock valued at $411,000 after purchasing an additional 5,152 shares during the last quarter.

Silk Road Medical Company Profile

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.