SiBone (NASDAQ:SIBN) Given New $27.00 Price Target at Canaccord Genuity Group

SiBone (NASDAQ:SIBN) had its target price boosted by Canaccord Genuity Group from $26.00 to $27.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 33.33% from the stock’s previous close.

SIBN has been the topic of several other reports. Morgan Stanley boosted their price target on shares of SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Truist Financial upped their target price on SiBone from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday. Weiss Ratings restated a “sell (e+)” rating on shares of SiBone in a research note on Monday. Finally, Needham & Company LLC boosted their price target on SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.00.

SiBone Trading Up 5.8%

NASDAQ SIBN opened at $20.25 on Wednesday. SiBone has a 52 week low of $12.49 and a 52 week high of $20.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.62 and a current ratio of 7.97. The stock’s 50 day moving average price is $17.31 and its two-hundred day moving average price is $16.86. The stock has a market capitalization of $878.67 million, a price-to-earnings ratio of -39.71 and a beta of 0.76.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. SiBone had a negative net margin of 11.24% and a negative return on equity of 12.86%. The company had revenue of $48.66 million for the quarter, compared to the consensus estimate of $46.67 million. As a group, analysts anticipate that SiBone will post -0.78 earnings per share for the current fiscal year.

Insider Activity at SiBone

In related news, SVP Michael A. Pisetsky sold 3,328 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $17.41, for a total transaction of $57,940.48. Following the transaction, the senior vice president directly owned 251,896 shares of the company’s stock, valued at approximately $4,385,509.36. The trade was a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laura Francis sold 11,341 shares of the firm’s 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 SEC filing for this sale provides additional information. Insiders sold a total of 147,128 shares of company stock worth $2,698,252 in the last three months. 4.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. increased its position in SiBone by 7.7% during the second quarter. Harbor Capital Advisors Inc. now owns 573,705 shares of the company’s stock worth $10,797,000 after acquiring an additional 40,993 shares during the period. Palumbo Wealth Management LLC acquired a new stake in shares of SiBone in the second quarter valued at approximately $577,000. Goldman Sachs Group Inc. boosted its stake in shares of SiBone by 28.4% in the first quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock valued at $5,328,000 after buying an additional 83,919 shares during the period. Divisadero Street Capital Management LP grew its position in SiBone by 17.8% during the second quarter. Divisadero Street Capital Management LP now owns 339,791 shares of the company’s stock worth $6,395,000 after buying an additional 51,363 shares in the last quarter. Finally, Trexquant Investment LP increased its stake in SiBone by 31.1% during the 1st quarter. Trexquant Investment LP now owns 115,114 shares of the company’s stock worth $1,615,000 after acquiring an additional 27,331 shares during the period. 98.11% of the stock is 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.