Silk Road Medical (NASDAQ:SILK) PT Raised to $20.00

Silk Road Medical (NASDAQ:SILK) had its target price upped by analysts at Piper Sandler from $18.00 to $20.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 5.82% from the company’s current price.

SILK has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their price target on Silk Road Medical from $10.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Stifel Nicolaus upped their target price on Silk Road Medical from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Argus raised 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. Finally, Lake Street Capital began coverage on Silk Road Medical in a research report on Wednesday, January 3rd. They issued a “buy” rating and a $20.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.55.

Silk Road Medical Stock Down 6.3 %

Shares of NASDAQ SILK opened at $18.90 on Wednesday. The business’s 50 day moving average is $17.67 and its two-hundred day moving average is $13.52. The company has a debt-to-equity ratio of 0.50, a current ratio of 7.95 and a quick ratio of 6.97. Silk Road Medical has a 1-year low of $6.08 and a 1-year high of $43.51.

Silk Road Medical (NASDAQ:SILK) last issued its quarterly earnings data on Tuesday, April 30th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.04. Silk Road Medical had a negative return on equity of 35.12% and a negative net margin of 29.02%. The company had revenue of $48.50 million for the quarter, compared to analysts’ expectations of $44.67 million. During the same period in the previous year, the firm posted ($0.43) earnings per share. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. As a group, analysts anticipate that Silk Road Medical will post -1.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Andrew S. Davis sold 5,481 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total transaction of $94,108.77. Following the sale, the insider now directly owns 287,773 shares of the company’s stock, valued at approximately $4,941,062.41. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Andrew S. Davis sold 5,481 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total transaction of $94,108.77. Following the sale, the insider now directly owns 287,773 shares of the company’s stock, valued at approximately $4,941,062.41. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Marie L. Jones sold 2,602 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total transaction of $44,676.34. Following the sale, the chief accounting officer now directly owns 76,894 shares in the company, valued at $1,320,269.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,457 shares of company stock valued at $351,247. Company insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC lifted its stake in 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 purchasing an additional 1,544 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Silk Road Medical by 1,293.9% in the 4th 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 in the last quarter. RiverPark Advisors LLC purchased a new position in Silk Road Medical in the 3rd quarter worth approximately $34,000. Nisa Investment Advisors LLC lifted its stake in Silk Road Medical by 879.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,210 shares of the company’s stock worth $52,000 after purchasing an additional 3,780 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Silk Road Medical during the 4th quarter worth approximately $62,000.

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.