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

Shares of Silk Road Medical, Inc (NASDAQ:SILK - Get Free Report) have been assigned an average rating of "Hold" from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $22.18.

A number of equities research analysts have recently weighed in on SILK shares. JPMorgan Chase & Co. boosted their price target on Silk Road Medical from $10.00 to $19.00 and gave the company a "neutral" rating in a report on Thursday, February 29th. Argus upgraded Silk Road Medical from a "hold" rating to a "buy" rating and set a $24.00 price objective for the company in a research note on Thursday, March 7th. Piper Sandler upped their price objective on Silk Road Medical from $11.00 to $18.00 and gave the stock a "neutral" rating in a research note on Thursday, February 29th. Lake Street Capital began coverage on Silk Road Medical in a research note on Wednesday, January 3rd. They set a "buy" rating and a $20.00 price objective for the company. Finally, Stifel Nicolaus upped their price objective on Silk Road Medical from $20.00 to $23.00 and gave the stock a "buy" rating in a research note on Thursday, February 29th.

Insiders Place Their Bets

In other news, CAO Marie L. Jones sold 2,602 shares of the company's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total value of $44,676.34. Following the completion of the sale, the chief accounting officer now owns 76,894 shares in the company, valued at $1,320,269.98. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Kevin M. Klemz sold 2,497 shares of the company's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total value of $42,873.49. Following the completion of the sale, the executive vice president now owns 165,194 shares in the company, valued at $2,836,380.98. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Marie L. Jones sold 2,602 shares of the company'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 $44,676.34. Following the completion of the sale, the chief accounting officer now owns 76,894 shares of the company's stock, valued at approximately $1,320,269.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,457 shares of company stock worth $351,247. 6.70% of the stock is owned by company insiders.

Institutional Trading of Silk Road Medical

Institutional investors have recently modified their holdings of the company. Algert Global LLC acquired a new stake in shares of Silk Road Medical during the third quarter worth $1,456,000. New York State Common Retirement Fund raised its position in Silk Road Medical by 333.5% during the third quarter. New York State Common Retirement Fund now owns 67,571 shares of the company's stock valued at $1,013,000 after buying an additional 51,983 shares during the period. Graham Capital Management L.P. acquired a new position in Silk Road Medical in the 3rd quarter worth about $299,000. Aigen Investment Management LP acquired a new position in Silk Road Medical in the 3rd quarter worth about $222,000. Finally, Quantbot Technologies LP increased its position in Silk Road Medical by 14,430.7% in the 3rd quarter. Quantbot Technologies LP now owns 61,610 shares of the company's stock worth $924,000 after purchasing an additional 61,186 shares during the last quarter.

Silk Road Medical Stock Down 4.8 %

SILK stock traded down $0.92 during midday trading on Friday, hitting $18.20. 283,317 shares of the company's stock were exchanged, compared to its average volume of 829,140. The company has a current ratio of 7.95, a quick ratio of 6.97 and a debt-to-equity ratio of 0.50. Silk Road Medical has a 12-month low of $6.08 and a 12-month high of $46.57. The firm has a 50 day moving average price of $17.25 and a 200-day moving average price of $13.05. The stock has a market capitalization of $712.89 million, a price-to-earnings ratio of -12.64 and a beta of 1.48.

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

About Silk Road Medical

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.