In a report released today, David Saxon from Needham reiterated a Buy rating on SI-Bone (SIBN), with a price target of $28.00. The company’s shares closed last Friday at $24.00, close to its 52-week high of $26.41.
According to TipRanks.com, Saxon is a 3-star analyst with an average return of 20.0% and a 88.9% success rate. Saxon covers the Healthcare sector, focusing on stocks such as Irhythm Technologies, BioTelemetry, and LivaNova.
SI-Bone has an analyst consensus of Strong Buy, with a price target consensus of $28.33, which is a 21.1% upside from current levels. In a report issued on November 2, Canaccord Genuity also maintained a Buy rating on the stock with a $30.00 price target.
See today’s analyst top recommended stocks >>
Based on SI-Bone’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $20.37 million and GAAP net loss of $9.47 million. In comparison, last year the company earned revenue of $16.18 million and had a GAAP net loss of $11.31 million.
Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SIBN 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.
SI-BONE, Inc. is a medical device company, which engages in the research and development of minimally invasive surgical implant system. Its product, iFuse, seeks to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that often causes severe lower back pain. The company was founded by Mark A. Reiley and Jeffrey W. Dunn on March 18, 2008 and is headquartered in San Jose, CA.
