SiBone (NASDAQ:SIBN) Receives $25.00 Average Price Target from Brokerages

Shares of SiBone (NASDAQ:SIBN) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $25.00.

A number of analysts recently issued reports on SIBN shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of SiBone in a research note on Monday, December 15th. Needham & Company LLC upped their price target on SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Canaccord Genuity Group increased their price target on shares of SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Truist Financial raised their price objective on shares of SiBone from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Finally, Morgan Stanley boosted their price objective on shares of SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd.

Insider Activity

In other news, insider Anthony J. Recupero sold 3,833 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $17.44, for a total value of $66,847.52. Following the transaction, the insider owned 268,144 shares of the company’s stock, valued at approximately $4,676,431.36. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Laura Francis sold 11,341 shares of SiBone stock in a transaction on Monday, November 17th. The shares were sold at an average price of $17.43, for a total value of $197,673.63. Following the sale, the chief executive officer directly owned 408,363 shares of the company’s stock, valued at $7,117,767.09. This represents a 2.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 185,270 shares of company stock worth $3,466,814. Company insiders own 3.90% of the company’s stock.

Institutional Trading of SiBone

A number of large investors have recently modified their holdings of SIBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of SiBone by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock worth $343,000 after purchasing an additional 1,053 shares during the last quarter. Tudor Investment Corp ET AL grew its stake in SiBone by 0.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 258,032 shares of the company’s stock worth $3,798,000 after buying an additional 1,968 shares in the last quarter. Rhumbline Advisers grew its stake in SiBone by 3.6% in the 1st quarter. Rhumbline Advisers now owns 59,721 shares of the company’s stock worth $838,000 after buying an additional 2,100 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of SiBone by 8.3% in the 3rd quarter. Franklin Resources Inc. now owns 29,018 shares of the company’s stock worth $427,000 after buying an additional 2,228 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of SiBone during the 3rd quarter valued at $39,000. Institutional investors own 98.11% of the company’s stock.

SiBone Stock Down 0.9%

SIBN opened at $20.17 on Friday. SiBone has a 12 month low of $12.49 and a 12 month high of $21.07. The company has a market cap of $875.18 million, a PE ratio of -39.55 and a beta of 0.75. The company has a current ratio of 7.97, a quick ratio of 6.62 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average of $18.06 and a 200 day moving average of $16.92.

SiBone (NASDAQ:SIBN) last posted its earnings results on Monday, November 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.05. SiBone had a negative return on equity of 12.86% and a negative net margin of 11.24%.The firm had revenue of $48.66 million for the quarter, compared to the consensus estimate of $46.67 million. On average, sell-side analysts expect that SiBone will post -0.78 EPS for the current year.

About SiBone

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.