SiBone (NASDAQ:SIBN) Raised to “Buy” at Wall Street Zen

SiBone (NASDAQ:SIBN) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other research firms have also recently weighed in on SIBN. Needham & Company LLC lifted their price target on SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Morgan Stanley upped their price objective on SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Canaccord Genuity Group increased their price objective on SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiBone in a report on Monday, December 29th. Finally, Truist Financial reissued a “buy” rating and issued a $24.00 target price (up from $23.00) on shares of SiBone in a research report on Tuesday, February 24th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, SiBone has an average rating of “Moderate Buy” and a consensus target price of $24.67.

SiBone Price Performance

Shares of SIBN opened at $12.29 on Friday. SiBone has a 52 week low of $12.29 and a 52 week high of $21.89. The firm has a market cap of $542.79 million, a P/E ratio of -27.93 and a beta of 0.69. The firm’s 50-day simple moving average is $15.02 and its 200 day simple moving average is $16.48. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.21 and a current ratio of 8.55.

SiBone (NASDAQ:SIBN) last released its quarterly earnings results on Monday, February 23rd. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.09. SiBone had a negative net margin of 9.41% and a negative return on equity of 11.01%. The firm had revenue of $56.35 million for the quarter, compared to analysts’ expectations of $56.26 million. On average, analysts forecast that SiBone will post -0.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Anthony J. Recupero sold 21,049 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $15.40, for a total value of $324,154.60. Following the completion of the sale, the insider directly owned 243,418 shares in the company, valued at approximately $3,748,637.20. The trade was a 7.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Laura Francis sold 93,475 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $15.32, for a total value of $1,432,037.00. Following the sale, the chief executive officer directly owned 544,369 shares in the company, valued at $8,339,733.08. This represents a 14.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 193,611 shares of company stock valued at $3,136,244 in the last quarter. Company insiders own 4.00% of the company’s stock.

Institutional Trading of SiBone

Several large investors have recently modified their holdings of SIBN. Impax Asset Management Group plc lifted its position in SiBone by 48.2% during the third quarter. Impax Asset Management Group plc now owns 1,025,010 shares of the company’s stock worth $15,088,000 after purchasing an additional 333,249 shares during the period. First Eagle Investment Management LLC increased its holdings in SiBone by 36.6% in the 3rd quarter. First Eagle Investment Management LLC now owns 484,261 shares of the company’s stock valued at $7,128,000 after buying an additional 129,723 shares during the period. Assenagon Asset Management S.A. bought a new position in SiBone in the 3rd quarter valued at about $3,297,000. Y Intercept Hong Kong Ltd raised its position in shares of SiBone by 337.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,369 shares of the company’s stock valued at $1,227,000 after buying an additional 64,322 shares in the last quarter. Finally, Divisadero Street Capital Management LP raised its position in shares of SiBone by 17.8% in the 2nd quarter. Divisadero Street Capital Management LP now owns 339,791 shares of the company’s stock valued at $6,395,000 after buying an additional 51,363 shares in the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

SiBone Company Profile

Si-BONE, Inc is a commercial‐stage medical device company focused on the design, development and commercialization of implant systems to treat degenerative conditions of the sacroiliac (SI) joint. Its flagship product, the iFuse Implant System, consists of triangular titanium implants that are inserted via a minimally invasive surgical procedure to stabilize the SI joint and alleviate chronic lower back and buttock pain.

FDA‐cleared in 2012, the iFuse portfolio has expanded to include the iFuse-3D and iFuse-3Di devices, which feature a porous, 3D-printed surface to promote bone ongrowth and biological fixation.