Silk Road Medical (NASDAQ:SILK) Price Target Raised to $20.00 at Piper Sandler

Silk Road Medical (NASDAQ:SILK) had its price objective upped by Piper Sandler from $18.00 to $20.00 in a research report released on Wednesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other analysts have also issued research reports about the stock. Lake Street Capital assumed coverage on shares of Silk Road Medical in a research report on Wednesday, January 3rd. They set a buy rating and a $20.00 price target on the stock. Stifel Nicolaus raised their target price on Silk Road Medical from $20.00 to $23.00 and gave the company a buy rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. upped their price target on Silk Road Medical from $10.00 to $19.00 and gave the stock a neutral rating in a report on Thursday, February 29th. Finally, Argus upgraded Silk Road Medical from a hold rating to a buy rating and set a $24.00 price target on the stock in a research report on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $22.55.

Silk Road Medical Stock Up 3.7 %

Silk Road Medical stock opened at $20.16 on Wednesday. The business’s 50-day moving average price is $17.63 and its 200 day moving average price is $13.49. The company has a quick ratio of 6.97, a current ratio of 7.95 and a debt-to-equity ratio of 0.50. The firm has a market cap of $795.11 million, a price-to-earnings ratio of -14.72 and a beta of 1.43. Silk Road Medical has a 52 week low of $6.08 and a 52 week high of $44.11.

Silk Road Medical (NASDAQ:SILK) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.04. The business had revenue of $48.50 million for the quarter, compared to analyst estimates of $44.67 million. Silk Road Medical had a negative return on equity of 35.12% and a negative net margin of 29.02%. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.43) EPS. As a group, sell-side analysts anticipate that Silk Road Medical will post -1.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Kevin J. Ballinger bought 11,700 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were acquired at an average price of $16.99 per share, for a total transaction of $198,783.00. Following the completion of the transaction, the director now directly owns 17,807 shares in the company, valued at approximately $302,540.93. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Marie L. Jones sold 2,602 shares of the firm’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 $44,676.34. Following the transaction, the chief accounting officer now directly owns 76,894 shares of the company’s stock, valued at $1,320,269.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kevin J. Ballinger acquired 11,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired at an average cost of $16.99 per share, with a total value of $198,783.00. Following the purchase, the director now owns 17,807 shares in the company, valued at approximately $302,540.93. The disclosure for this purchase can be found here. In the last three months, insiders sold 20,457 shares of company stock worth $351,247. Corporate insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. RiverPark Advisors LLC acquired a new stake in shares of Silk Road Medical in the third quarter valued at approximately $34,000. PNC Financial Services Group Inc. grew its holdings 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 valued at $31,000 after buying an additional 2,342 shares in the last quarter. CWM LLC increased its stake in shares of Silk Road Medical by 151.5% in the 4th quarter. CWM LLC now owns 2,563 shares of the company’s stock worth $31,000 after acquiring an additional 1,544 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of 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 acquiring an additional 3,780 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Silk Road Medical during the 4th quarter worth $62,000.

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.