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Canaccord Genuity analyst Kyle Rose reiterated a Buy rating on Sientra (NASDAQ: SIEN) yesterday and set a price target of $19. The company’s shares opened today at $17.23, close to its 52-week high of $18.09.
Rose noted:
“We reiterate our BUY rating on Sientra following strong Q1/18 results that came in slightly ahead of prelim results. SIEN has had a busy start to the year executing on key initiatives that leave us incrementally more confident in the company’s ability to deliver upside to estimates moving forward. Specifically, SIEN received FDA approval of the company’s new manufacturing facility and immediately re-entered the US breast implant market early in the Q2, posted a robust Q1 that showed continued momentum in tissue expander sales as well as encouraging signs of a turnaround in the miraDry business, and lastly completed a $108M (net of fees) capital raise.”
According to TipRanks.com, Rose is a 5-star analyst with an average return of 11.8% and a 57.1% success rate. Rose covers the Healthcare sector, focusing on stocks such as Obalon Therapeutics Inc, Zimmer Biomet Holdings, and Smith & Nephew Snats.
Currently, the analyst consensus on Sientra is Strong Buy and the average price target is $17.33, representing a 0.6% upside.
In a report issued on April 25, Maxim Group also maintained a Buy rating on the stock with a $19 price target.
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Based on Sientra’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $17.83 million. In comparison, last year the company had a GAAP net loss of $11.42 million.
Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SIEN in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Sientra, Inc. is a medical aesthetics company, which engages in developing and commercializing plastic surgery implantable devices. Its products include breast implants, breast tissue expanders, silicone scar treatment, and additional tissue expanders. The company was founded in 2006 by Hani M. Zeini and is headquartered in Santa Barbara, CA.
