Silk Road Medical (NASDAQ:SILK) Price Target Raised to $20.00 at Piper Sandler

Silk Road Medical (NASDAQ:SILK) had its price objective raised by Piper Sandler from $18.00 to $20.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts also recently issued reports on the company. Lake Street Capital assumed coverage on Silk Road Medical in a research report on Wednesday, January 3rd. They set a buy rating and a $20.00 price objective for the company. Stifel Nicolaus boosted their price target on shares of Silk Road Medical from $20.00 to $23.00 and gave the stock a buy rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. upped their price objective on shares of Silk Road Medical from $10.00 to $19.00 and gave the company a neutral rating in a research note on Thursday, February 29th. Finally, Argus raised shares of Silk Road Medical from a hold rating to a buy rating and set a $24.00 target price for the company in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $22.55.

Silk Road Medical Price Performance

NASDAQ:SILK opened at $20.28 on Wednesday. The stock’s 50-day moving average is $17.73 and its 200-day moving average is $13.66. Silk Road Medical has a 1-year low of $6.08 and a 1-year high of $43.51. The company has a debt-to-equity ratio of 0.50, a quick ratio of 6.97 and a current ratio of 7.95.

Silk Road Medical (NASDAQ:SILK) last posted its earnings results on Tuesday, April 30th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.04. The firm had revenue of $48.50 million for the quarter, compared to analyst estimates of $44.67 million. Silk Road Medical had a negative net margin of 29.02% and a negative return on equity of 35.12%. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.43) EPS. Sell-side analysts expect that Silk Road Medical will post -1.43 earnings per share for the current year.

Insider Activity

In related news, CAO Marie L. Jones sold 2,602 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 $44,676.34. Following the completion of the sale, the chief accounting officer now directly owns 76,894 shares of the company’s stock, valued at approximately $1,320,269.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Silk Road Medical news, EVP Kevin M. Klemz sold 2,497 shares of Silk Road Medical stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total transaction of $42,873.49. Following the completion of the transaction, the executive vice president now owns 165,194 shares in the company, valued at approximately $2,836,380.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Marie L. Jones sold 2,602 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 76,894 shares of the company’s stock, valued at $1,320,269.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,457 shares of company stock worth $351,247. Company insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Swiss National Bank lifted its stake in Silk Road Medical by 1.7% during the 3rd quarter. Swiss National Bank now owns 85,200 shares of the company’s stock valued at $1,277,000 after acquiring an additional 1,400 shares in the last quarter. CWM LLC grew its stake in shares of Silk Road Medical by 151.5% in the 4th quarter. CWM LLC now owns 2,563 shares of the company’s stock worth $31,000 after acquiring an additional 1,544 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Silk Road Medical by 28.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,295 shares of the company’s stock valued at $139,000 after purchasing an additional 2,049 shares during the last quarter. RiverPark Advisors LLC bought a new position in shares of Silk Road Medical during the third quarter valued at about $34,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Silk Road Medical by 1,293.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,523 shares of the company’s stock worth $31,000 after purchasing an additional 2,342 shares during the last quarter.

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.