Analysts Set SI-BONE, Inc. (NASDAQ:SIBN) Price Target at $27.29

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report) has earned an average recommendation of "Buy" from the six brokerages that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have covered the stock in the last year is $27.29.

SIBN has been the topic of a number of research reports. Needham & Company LLC restated a "buy" rating and set a $27.00 target price on shares of SI-BONE in a research report on Tuesday. Piper Sandler assumed coverage on shares of SI-BONE in a research report on Thursday, March 28th. They issued an "overweight" rating and a $25.00 price objective on the stock. JMP Securities reiterated a "market outperform" rating and issued a $32.00 price objective on shares of SI-BONE in a research report on Tuesday. Morgan Stanley lowered their price objective on shares of SI-BONE from $26.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $25.00 price objective on shares of SI-BONE in a research report on Tuesday, February 27th.

Insiders Place Their Bets

In other SI-BONE news, insider Anthony J. Recupero sold 3,330 shares of the business's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $16.82, for a total transaction of $56,010.60. Following the sale, the insider now directly owns 255,760 shares in the company, valued at approximately $4,301,883.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Anthony J. Recupero sold 3,330 shares of SI-BONE stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $16.82, for a total transaction of $56,010.60. Following the completion of the transaction, the insider now owns 255,760 shares of the company's stock, valued at approximately $4,301,883.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mika Nishimura sold 2,500 shares of SI-BONE stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $16.22, for a total value of $40,550.00. Following the transaction, the director now directly owns 19,350 shares of the company's stock, valued at approximately $313,857. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,905 shares of company stock worth $190,273. Corporate insiders own 5.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. RiverPark Advisors LLC raised its stake in SI-BONE by 260.4% in the 1st quarter. RiverPark Advisors LLC now owns 11,357 shares of the company's stock valued at $186,000 after purchasing an additional 8,206 shares during the last quarter. Diversified Trust Co acquired a new position in SI-BONE in the 1st quarter valued at about $339,000. Wellington Management Group LLP raised its stake in SI-BONE by 34.9% in the 4th quarter. Wellington Management Group LLP now owns 817,048 shares of the company's stock valued at $17,150,000 after purchasing an additional 211,209 shares during the last quarter. Bullseye Asset Management LLC raised its stake in SI-BONE by 218.6% in the 4th quarter. Bullseye Asset Management LLC now owns 102,024 shares of the company's stock valued at $2,141,000 after purchasing an additional 70,000 shares during the last quarter. Finally, Granahan Investment Management LLC raised its stake in SI-BONE by 13.2% in the 4th quarter. Granahan Investment Management LLC now owns 1,286,450 shares of the company's stock valued at $27,003,000 after purchasing an additional 150,217 shares during the last quarter. Institutional investors and hedge funds own 98.11% of the company's stock.

SI-BONE Stock Performance

Shares of SIBN traded up $1.20 during mid-day trading on Tuesday, reaching $15.68. 595,426 shares of the company's stock were exchanged, compared to its average volume of 432,549. 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 stock has a market capitalization of $646.02 million, a PE ratio of -13.54 and a beta of 1.24. The business's fifty day simple moving average is $15.87 and its 200-day simple moving average is $18.02. SI-BONE has a 52-week low of $13.96 and a 52-week high of $29.51.

SI-BONE (NASDAQ:SIBN - Get Free Report) last announced its earnings results on Monday, February 26th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.29) by $0.02. The business had revenue of $38.86 million for the quarter, compared to analyst estimates of $38.60 million. SI-BONE had a negative net margin of 31.20% and a negative return on equity of 28.22%. On average, equities research analysts expect that SI-BONE will post -0.98 earnings per share for the current year.

SI-BONE Company Profile

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.