Analysts Set Silk Road Medical, Inc (NASDAQ:SILK) PT at $22.18

Silk Road Medical, Inc (NASDAQ:SILK) has been assigned a consensus recommendation of “Hold” from the eleven analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $22.18.

Several research firms recently commented on SILK. Argus upgraded Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, March 7th. Lake Street Capital started coverage on Silk Road Medical in a research note on Wednesday, January 3rd. They set a “buy” rating and a $20.00 price target for the company. JPMorgan Chase & Co. increased their price target on Silk Road Medical from $10.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Piper Sandler raised 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. Finally, Stifel Nicolaus raised 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.

Insider Transactions at Silk Road Medical

In related news, insider Andrew S. Davis sold 5,481 shares of Silk Road Medical stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total transaction of $94,108.77. Following the completion of the sale, the insider now owns 287,773 shares of the company’s stock, valued at $4,941,062.41. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Marie L. Jones sold 2,602 shares of Silk Road Medical stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total transaction 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 $1,320,269.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Andrew S. Davis sold 5,481 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total value of $94,108.77. Following the completion of the sale, the insider now directly owns 287,773 shares of the company’s stock, valued at approximately $4,941,062.41. The disclosure for this sale can be found here. Insiders sold a total of 20,457 shares of company stock valued at $351,247 over the last quarter. Company insiders own 6.70% of the company’s stock.

Institutional Trading of Silk Road Medical

Institutional investors and hedge funds have recently made changes to their positions in the stock. Algert Global LLC acquired a new stake in shares of Silk Road Medical in the third quarter worth about $1,456,000. New York State Common Retirement Fund lifted its position in shares of Silk Road Medical by 333.5% during the 3rd quarter. New York State Common Retirement Fund now owns 67,571 shares of the company’s stock worth $1,013,000 after purchasing an additional 51,983 shares during the last quarter. Graham Capital Management L.P. acquired a new position in shares of Silk Road Medical during the 3rd quarter worth about $299,000. Aigen Investment Management LP acquired a new position in shares of Silk Road Medical during the 3rd quarter worth about $222,000. Finally, Quantbot Technologies LP lifted its position in shares of Silk Road Medical by 14,430.7% during 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 Trading Down 1.9 %

Shares of SILK opened at $17.71 on Friday. The company has a market capitalization of $693.70 million, a P/E ratio of -12.31 and a beta of 1.48. Silk Road Medical has a one year low of $6.08 and a one year high of $46.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 6.97 and a current ratio of 7.95. The stock has a 50-day moving average price of $17.36 and a 200 day moving average price of $13.05.

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

Silk Road Medical Company Profile

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.