SI-BONE (NASDAQ:SIBN) Research Coverage Started at Piper Sandler

Analysts at Piper Sandler initiated coverage on shares of SI-BONE (NASDAQ:SIBN) in a report issued on Thursday, Briefing.com reports. The brokerage set an “overweight” rating and a $25.00 price target on the stock. Piper Sandler’s target price points to a potential upside of 58.03% from the company’s previous close.

Other research analysts also recently issued reports about the company. Truist Financial reissued a “buy” rating and issued a $24.00 price objective (down from $26.00) on shares of SI-BONE in a research note on Tuesday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of SI-BONE in a research note on Monday, December 4th. Morgan Stanley increased their price objective on SI-BONE from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price objective on shares of SI-BONE in a research note on Tuesday, February 27th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $26.33.

SI-BONE Trading Up 3.4 %

Shares of SIBN stock opened at $15.82 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 9.01 and a quick ratio of 8.15. The company has a market cap of $649.57 million, a price-to-earnings ratio of -13.88 and a beta of 1.20. The stock has a 50 day simple moving average of $18.70 and a 200-day simple moving average of $19.05. SI-BONE has a 1-year low of $14.88 and a 1-year high of $29.51.

SI-BONE (NASDAQ:SIBN) last announced its earnings results on Monday, February 26th. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.02. The business had revenue of $38.86 million during the quarter, compared to the consensus estimate of $38.60 million. SI-BONE had a negative return on equity of 28.22% and a negative net margin of 31.20%. On average, equities research analysts expect that SI-BONE will post -0.97 EPS for the current fiscal year.

Insider Buying and Selling at SI-BONE

In other SI-BONE news, Director Timothy E. Davis, Jr. sold 9,900 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $20.93, for a total value of $207,207.00. Following the completion of the sale, the director now directly owns 22,361 shares in the company, valued at approximately $468,015.73. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other SI-BONE news, Director Timothy E. Davis, Jr. sold 9,900 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $20.93, for a total value of $207,207.00. Following the completion of the sale, the director now directly owns 22,361 shares in the company, valued at approximately $468,015.73. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Anshul Maheshwari sold 1,470 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $20.92, for a total value of $30,752.40. Following the completion of the sale, the chief financial officer now owns 147,268 shares of the company’s stock, valued at $3,080,846.56. The disclosure for this sale can be found here. Insiders sold a total of 19,136 shares of company stock worth $375,040 in the last three months. 5.40% of the stock is owned by corporate insiders.

Institutional Trading of SI-BONE

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP acquired a new stake in shares of SI-BONE during the 4th quarter worth about $28,000. FMR LLC increased its position in shares of SI-BONE by 28.7% during the 1st quarter. FMR LLC now owns 2,160 shares of the company’s stock worth $42,000 after purchasing an additional 482 shares during the last quarter. Comerica Bank acquired a new stake in shares of SI-BONE during the 3rd quarter worth about $47,000. Ensign Peak Advisors Inc acquired a new stake in shares of SI-BONE during the 3rd quarter worth about $48,000. Finally, Coppell Advisory Solutions LLC acquired a new stake in shares of SI-BONE during the 2nd quarter worth about $50,000. 98.11% of the stock is owned by institutional investors and hedge funds.

About SI-BONE

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.