Silk Road Medical (NASDAQ:SILK) Shares Gap Up to $17.43

Shares of Silk Road Medical, Inc (NASDAQ:SILKGet Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $17.43, but opened at $17.89. Silk Road Medical shares last traded at $17.75, with a volume of 27,854 shares traded.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Argus upgraded 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 research note on Thursday, March 7th. Stifel Nicolaus lifted their target price on shares of Silk Road Medical from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. lifted their price target on shares of Silk Road Medical from $10.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Lake Street Capital initiated coverage on shares of Silk Road Medical in a research note on Wednesday, January 3rd. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Piper Sandler boosted their price objective on shares of Silk Road Medical from $11.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Silk Road Medical currently has an average rating of “Hold” and an average price target of $22.18.

View Our Latest Stock Analysis on Silk Road Medical

Silk Road Medical Trading Up 2.7 %

The business’s fifty day simple moving average is $16.87 and its 200 day simple moving average is $12.91. The company has a current ratio of 7.95, a quick ratio of 6.97 and a debt-to-equity ratio of 0.50. The stock has a market cap of $701.14 million, a P/E ratio of -12.79 and a beta of 1.48.

Silk Road Medical (NASDAQ:SILKGet Free Report) last released its earnings results on Wednesday, February 28th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $47.27 million for the quarter, compared to the consensus estimate of $42.23 million. As a group, analysts expect that Silk Road Medical, Inc will post -1.39 EPS for the current year.

Insider Activity at Silk Road Medical

In other Silk Road Medical news, insider Andrew S. Davis sold 5,481 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $4,941,062.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Andrew S. Davis sold 5,481 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were 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 of the company’s stock, valued at approximately $4,941,062.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kevin J. Ballinger bought 11,700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was purchased at an average cost of $16.99 per share, with a total value of $198,783.00. Following the completion of the purchase, the director now directly owns 17,807 shares of the company’s stock, valued at approximately $302,540.93. The disclosure for this purchase can be found here. Insiders have sold 20,457 shares of company stock worth $351,247 in the last ninety days. Company insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Silk Road Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Algert Global LLC bought a new position in Silk Road Medical during the third quarter worth $1,456,000. New York State Common Retirement Fund boosted its position 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 during the period. Graham Capital Management L.P. bought a new position in Silk Road Medical during the third quarter worth $299,000. Aigen Investment Management LP bought a new position in Silk Road Medical during the third quarter worth $222,000. Finally, Quantbot Technologies LP boosted its position 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 during the period.

Silk Road Medical Company Profile

(Get Free Report)

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.

Further Reading

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