Silk Road Medical (NASDAQ:SILK) Shares Up 3.5%

Silk Road Medical, Inc (NASDAQ:SILK)’s stock price rose 3.5% on Thursday . The company traded as high as $18.88 and last traded at $18.88. Approximately 42,349 shares changed hands during trading, a decline of 95% from the average daily volume of 832,758 shares. The stock had previously closed at $18.24.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SILK shares. JPMorgan Chase & Co. raised their price target on shares of Silk Road Medical from $10.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Stifel Nicolaus increased their price target on Silk Road Medical from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Piper Sandler boosted their price objective on Silk Road Medical from $11.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Argus raised Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, March 7th. Finally, Lake Street Capital started coverage on Silk Road Medical in a research note on Wednesday, January 3rd. They issued a “buy” rating and a $20.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.18.

Silk Road Medical Trading Down 4.8 %

The business’s 50 day moving average is $17.25 and its two-hundred day moving average is $13.05. The company has a current ratio of 7.95, a quick ratio of 6.97 and a debt-to-equity ratio of 0.50.

Silk Road Medical (NASDAQ:SILK) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.07. The company had revenue of $47.27 million for the quarter, compared to the consensus estimate of $42.23 million. Silk Road Medical had a negative net margin of 31.70% and a negative return on equity of 36.38%. As a group, analysts predict that Silk Road Medical, Inc will post -1.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kevin J. Ballinger purchased 11,700 shares of the stock in a transaction dated Tuesday, March 5th. The shares were bought at an average cost of $16.99 per share, for a total transaction of $198,783.00. Following the transaction, the director now owns 17,807 shares in the company, valued at $302,540.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Andrew S. Davis sold 5,481 shares of Silk Road Medical stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total value of $94,108.77. Following the transaction, the insider now owns 287,773 shares of the company’s stock, valued at approximately $4,941,062.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin J. Ballinger bought 11,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired 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 owns 17,807 shares of the company’s stock, valued at $302,540.93. The disclosure for this purchase can be found here. Insiders sold 20,457 shares of company stock worth $351,247 over the last ninety days. Company insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SILK. Armistice Capital LLC bought a new stake in shares of Silk Road Medical during the 4th quarter worth $21,693,000. Goldman Sachs Group Inc. boosted its position in shares of Silk Road Medical by 707.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company’s stock valued at $24,675,000 after purchasing an additional 1,762,048 shares during the period. Rubric Capital Management LP purchased a new position in Silk Road Medical in the 4th quarter worth about $17,520,000. Fred Alger Management LLC acquired a new stake in Silk Road Medical during the 1st quarter worth about $40,012,000. Finally, Rings Capital Management LLC acquired a new stake in Silk Road Medical during the 4th quarter worth about $10,552,000.

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.