JPMorgan Chase & Co. Boosts Silk Road Medical (NASDAQ:SILK) Price Target to $21.00

Silk Road Medical (NASDAQ:SILK) had its target price lifted by JPMorgan Chase & Co. from $19.00 to $21.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts have also commented on SILK. Stifel Nicolaus upped their price target on Silk Road Medical from $20.00 to $23.00 and gave the stock a buy rating in a report on Thursday, February 29th. Piper Sandler upped their target price on Silk Road Medical from $18.00 to $20.00 and gave the company a neutral rating in a research note on Wednesday. Lake Street Capital assumed coverage on Silk Road Medical in a research note on Wednesday, January 3rd. They issued a buy rating and a $20.00 target price for the company. Finally, Argus upgraded 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 equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $22.55.

Silk Road Medical Stock Up 7.3 %

Shares of SILK stock opened at $20.28 on Wednesday. Silk Road Medical has a 12 month low of $6.08 and a 12 month high of $43.51. The firm has a market cap of $799.84 million, a PE ratio of -14.80 and a beta of 1.43. The stock has a 50 day moving average of $17.73 and a 200-day moving average of $13.61. The company has a quick ratio of 6.97, a current ratio of 7.95 and a debt-to-equity ratio of 0.50.

Silk Road Medical (NASDAQ:SILK) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $44.67 million. During the same period in the previous year, the company earned ($0.43) earnings per share. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, equities analysts predict that Silk Road Medical will post -1.39 EPS for the current year.

Insiders Place Their Bets

In other Silk Road Medical news, insider Andrew S. Davis sold 5,481 shares of the 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 transaction, the insider now directly owns 287,773 shares in the company, valued at $4,941,062.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Kevin M. Klemz sold 2,497 shares of the 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 sale, the executive vice president now owns 165,194 shares in the company, valued at $2,836,380.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew S. Davis sold 5,481 shares of the 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 in the company, valued at approximately $4,941,062.41. The disclosure for this sale can be found here. Insiders sold 20,457 shares of company stock worth $351,247 over the last three months. 6.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Silk Road Medical

Several large investors have recently made changes to their positions in SILK. CWM LLC grew its holdings in shares of Silk Road Medical by 151.5% during the fourth quarter. CWM LLC now owns 2,563 shares of the company’s stock worth $31,000 after purchasing an additional 1,544 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of 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. RiverPark Advisors LLC bought a new stake in shares of Silk Road Medical during the third quarter worth $34,000. Nisa Investment Advisors LLC grew its holdings in shares of Silk Road Medical by 879.1% during the fourth 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 during the last quarter. Finally, Quest Partners LLC bought a new position in Silk Road Medical in the fourth quarter valued at about $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.