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

Silk Road Medical, Inc (NASDAQ:SILK) has been assigned an average recommendation of “Hold” from the eleven research firms that are currently covering the stock, 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 price objective among brokers that have issued ratings on the stock in the last year is $22.18.

SILK has been the topic of several recent research reports. Stifel Nicolaus increased their price objective on shares of Silk Road Medical from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Lake Street Capital began coverage on shares of Silk Road Medical in a report on Wednesday, January 3rd. They issued a “buy” rating and a $20.00 target price for the company. Piper Sandler increased their target price on shares of Silk Road Medical from $11.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. 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 report on Thursday, March 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of Silk Road Medical from $10.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th.

Insider Buying and Selling

In related news, insider Andrew S. Davis sold 5,481 shares of the firm’s stock in a transaction on 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 in the company, valued at $4,941,062.41. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Kevin M. Klemz sold 2,497 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 $42,873.49. Following the completion of the sale, the executive vice president now directly owns 165,194 shares in the company, valued at $2,836,380.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $94,108.77. Following the sale, the insider now owns 287,773 shares of the company’s stock, valued at $4,941,062.41. The disclosure for this sale can be found here. Insiders sold a total of 20,457 shares of company stock worth $351,247 over the last three months. 6.70% of the stock is owned by insiders.

Institutional Trading of Silk Road Medical

Several institutional investors and hedge funds have recently made changes to their positions in the business. Armistice Capital LLC purchased a new position in shares of Silk Road Medical during the fourth quarter valued at $21,693,000. Goldman Sachs Group Inc. grew its stake in Silk Road Medical by 707.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company’s stock valued at $24,675,000 after purchasing an additional 1,762,048 shares during the last quarter. Rubric Capital Management LP purchased a new position in Silk Road Medical in the fourth quarter valued at about $17,520,000. Fred Alger Management LLC purchased a new position in Silk Road Medical in the first quarter valued at about $40,012,000. Finally, Rings Capital Management LLC purchased a new position in Silk Road Medical in the fourth quarter valued at about $10,552,000.

Silk Road Medical Price Performance

Shares of NASDAQ:SILK opened at $18.20 on Friday. The firm’s 50 day moving average price is $17.30 and its 200-day moving average price is $13.04. Silk Road Medical has a twelve month low of $6.08 and a twelve month high of $46.57. The company has a quick ratio of 6.97, a current ratio of 7.95 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $712.89 million, a PE ratio of -12.64 and a beta of 1.48.

Silk Road Medical (NASDAQ:SILK) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.07. Silk Road Medical had a negative net margin of 31.70% and a negative return on equity of 36.38%. The firm had revenue of $47.27 million for the quarter, compared to analysts’ expectations of $42.23 million. Equities research analysts expect that Silk Road Medical will post -1.39 EPS 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.