SiBone (NASDAQ:SIBN) Receives "Overweight" Rating from Cantor Fitzgerald

Key Points

• SiBone's stock has received an "overweight" rating from Cantor Fitzgerald, with a price target of $25, indicating a potential upside of 39.66% from its current price.
• In recent analyses, both Needham & Company and Truist Financial have reiterated positive ratings on SiBone, with price targets of $24.00 and $22.00 respectively.
• The company recently reported earnings, beating expectations with a revenue of $48.63 million for the quarter and a loss of ($0.14) earnings per share.

Cantor Fitzgerald restated their overweight rating on shares of SiBone (NASDAQ:SIBN - Free Report) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $25.00 price objective on the stock.

A number of other analysts also recently issued reports on the stock. Truist Financial lifted their price objective on shares of SiBone from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $24.00 price target on shares of SiBone in a research note on Tuesday, May 6th.

SiBone Price Performance

Shares of NASDAQ:SIBN traded down $0.09 on Tuesday, hitting $16.32. The company's stock had a trading volume of 511,274 shares, compared to its average volume of 444,305. The company has a market capitalization of $695.56 million, a PE ratio of -29.14 and a beta of 0.91. The company has a debt-to-equity ratio of 0.21, a current ratio of 8.38 and a quick ratio of 7.26. The company has a 50-day simple moving average of $17.75 and a 200 day simple moving average of $16.63. SiBone has a 1 year low of $11.70 and a 1 year high of $20.05.

SiBone (NASDAQ:SIBN - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.19) by $0.05. SiBone had a negative net margin of 12.83% and a negative return on equity of 14.20%. The business had revenue of $48.63 million for the quarter, compared to the consensus estimate of $48.12 million. Sell-side analysts forecast that SiBone will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Anshul Maheshwari sold 5,005 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $18.34, for a total transaction of $91,791.70. Following the transaction, the chief financial officer directly owned 217,078 shares of the company's stock, valued at approximately $3,981,210.52. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael A. Pisetsky sold 3,127 shares of SiBone stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $18.29, for a total value of $57,192.83. Following the completion of the transaction, the senior vice president owned 261,681 shares in the company, valued at approximately $4,786,145.49. This represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,218 shares of company stock worth $1,121,435 in the last ninety days. 4.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SiBone

Institutional investors and hedge funds have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of SiBone during the second quarter valued at approximately $1,403,000. Fox Run Management L.L.C. purchased a new stake in SiBone during the 2nd quarter valued at $526,000. First Eagle Investment Management LLC grew its holdings in SiBone by 15.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 354,538 shares of the company's stock worth $6,672,000 after acquiring an additional 46,800 shares during the last quarter. Corton Capital Inc. purchased a new position in shares of SiBone in the second quarter valued at about $189,000. Finally, Pier Capital LLC increased its position in shares of SiBone by 7.2% in the second quarter. Pier Capital LLC now owns 498,035 shares of the company's stock valued at $9,373,000 after acquiring an additional 33,314 shares during the period. 98.11% of the stock is currently owned by institutional investors.

About SiBone

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.