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

Silk Road Medical, Inc (NASDAQ:SILK) has been given a consensus rating of “Hold” by the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $22.18.

Several research firms have issued reports on SILK. Stifel Nicolaus boosted their target price on Silk Road Medical from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Piper Sandler boosted their target price on Silk Road Medical from $11.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Lake Street Capital assumed coverage on Silk Road Medical in a research note on Wednesday, January 3rd. They set a “buy” rating and a $20.00 price target on the stock. Argus raised Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday, March 7th. Finally, JPMorgan Chase & Co. boosted their price target on Silk Road Medical from $10.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th.

Insider Buying and Selling

In other Silk Road Medical news, CAO Marie L. Jones sold 2,602 shares of Silk Road Medical 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 completion of the transaction, the chief accounting officer now directly 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 accessible through this hyperlink. In other news, 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 transaction of $44,676.34. Following the completion of the transaction, the chief accounting officer now directly 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 accessible through this link. Also, EVP Kevin M. Klemz sold 2,497 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 $42,873.49. Following the transaction, the executive vice president now owns 165,194 shares of the company’s stock, valued at $2,836,380.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,457 shares of company stock worth $351,247. Corporate insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Silk Road Medical

Hedge funds and other institutional investors have recently made changes to their positions in the business. Algert Global LLC acquired a new position in shares of Silk Road Medical during the third quarter worth approximately $1,456,000. New York State Common Retirement Fund raised its holdings 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 worth $1,013,000 after purchasing an additional 51,983 shares in the last quarter. Graham Capital Management L.P. bought a new stake in Silk Road Medical during the third quarter worth approximately $299,000. Aigen Investment Management LP bought a new stake in Silk Road Medical during the third quarter worth approximately $222,000. Finally, Quantbot Technologies LP raised its holdings in Silk Road Medical by 14,430.7% during the third quarter. Quantbot Technologies LP now owns 61,610 shares of the company’s stock worth $924,000 after purchasing an additional 61,186 shares in the last quarter.

Silk Road Medical Stock Down 4.8 %

Silk Road Medical stock opened at $18.20 on Friday. The company has a market capitalization of $712.89 million, a P/E ratio of -12.64 and a beta of 1.48. Silk Road Medical has a fifty-two week low of $6.08 and a fifty-two week high of $46.57. The stock has a 50-day simple moving average of $17.30 and a 200-day simple moving average of $13.04. 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 issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.07. The firm had revenue of $47.27 million for the quarter, compared to analysts’ expectations of $42.23 million. Silk Road Medical had a negative return on equity of 36.38% and a negative net margin of 31.70%. Equities research analysts expect that Silk Road Medical will post -1.39 earnings per share 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.