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

Silk Road Medical, Inc (NASDAQ:SILKGet Free Report)’s share price gapped up prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SILK shares. JPMorgan Chase & Co. upped their price objective on shares of Silk Road Medical from $10.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Piper Sandler increased their price target 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. Argus upgraded shares of Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock 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 stock a “buy” rating in a report on Thursday, February 29th. Finally, Lake Street Capital started coverage on shares of Silk Road Medical in a research report on Wednesday, January 3rd. They set 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 assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Silk Road Medical has an average rating of “Hold” and a consensus price target of $22.18.

Get Our Latest Report on SILK

Silk Road Medical Price Performance

The company has a market cap of $701.14 million, a price-to-earnings ratio of -12.79 and a beta of 1.48. The company has a quick ratio of 6.97, a current ratio of 7.95 and a debt-to-equity ratio of 0.50. The company’s fifty day moving average price is $16.87 and its two-hundred day moving average price is $12.91.

Silk Road Medical (NASDAQ:SILKGet Free Report) last announced its earnings results on Wednesday, February 28th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate 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 business had revenue of $47.27 million during the quarter, compared to analysts’ expectations of $42.23 million. On average, equities research analysts forecast that Silk Road Medical, Inc will post -1.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Silk Road Medical news, Director Kevin J. Ballinger bought 11,700 shares of Silk Road Medical stock in a transaction that occurred on Tuesday, March 5th. The stock was acquired at an average price of $16.99 per share, for a total transaction of $198,783.00. Following the completion of the acquisition, the director now owns 17,807 shares of the company’s stock, valued at approximately $302,540.93. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Silk Road Medical news, CAO Marie L. Jones sold 2,602 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total transaction of $44,676.34. Following the sale, the chief accounting officer now directly owns 76,894 shares of the company’s stock, valued at $1,320,269.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin J. Ballinger purchased 11,700 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were purchased at an average cost of $16.99 per share, for a total transaction of $198,783.00. Following the completion of the transaction, 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. Over the last 90 days, insiders sold 20,457 shares of company stock worth $351,247. 6.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Silk Road Medical

Several large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its stake in shares of Silk Road Medical by 91.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 466 shares of the company’s stock valued at $25,000 after acquiring an additional 222 shares in the last quarter. CWM LLC grew its stake in shares of Silk Road Medical by 151.5% in the fourth quarter. CWM LLC now owns 2,563 shares of the company’s stock valued at $31,000 after acquiring an additional 1,544 shares in the last quarter. RiverPark Advisors LLC acquired a new position in shares of Silk Road Medical in the third quarter valued at about $34,000. Quarry LP grew its stake in shares of Silk Road Medical by 535.1% in the first quarter. Quarry LP now owns 978 shares of the company’s stock valued at $38,000 after acquiring an additional 824 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Silk Road Medical by 879.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,210 shares of the company’s stock worth $52,000 after buying an additional 3,780 shares in the last quarter.

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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