Silk Road Medical, Inc (NASDAQ:SILK) Receives $21.50 Consensus Target Price from Brokerages

Shares of Silk Road Medical, Inc (NASDAQ:SILK) have earned an average rating of “Reduce” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $21.50.

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus reissued a “hold” rating and set a $27.50 price target (up from $23.00) on shares of Silk Road Medical in a research note on Wednesday, July 17th. Piper Sandler upped their target price on shares of Silk Road Medical from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Lake Street Capital reaffirmed a “hold” rating and issued a $27.50 target price (down previously from $28.00) on shares of Silk Road Medical in a research note on Tuesday, June 18th. Argus downgraded shares of Silk Road Medical from a “buy” rating to a “sell” rating in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. upped their target price on shares of Silk Road Medical from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System boosted its holdings in Silk Road Medical by 9.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 12,065 shares of the company’s stock worth $221,000 after purchasing an additional 1,090 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Silk Road Medical by 4.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,905 shares of the company’s stock worth $640,000 after purchasing an additional 1,490 shares during the last quarter. CWM LLC boosted its holdings in Silk Road Medical by 151.5% during the fourth quarter. CWM LLC now owns 2,563 shares of the company’s stock worth $31,000 after purchasing an additional 1,544 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Silk Road Medical by 1,293.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,523 shares of the company’s stock worth $31,000 after acquiring an additional 2,342 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Silk Road Medical by 879.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,210 shares of the company’s stock valued at $52,000 after acquiring an additional 3,780 shares during the period.

Silk Road Medical Trading Down 0.3 %

Shares of NASDAQ SILK opened at $27.01 on Friday. The company has a current ratio of 11.05, a quick ratio of 9.62 and a debt-to-equity ratio of 0.52. The company has a market cap of $1.07 billion, a PE ratio of -19.72 and a beta of 1.52. The company has a 50-day moving average of $24.65 and a two-hundred day moving average of $19.75. Silk Road Medical has a 1-year low of $6.08 and a 1-year high of $27.19.

Silk Road Medical (NASDAQ:SILK) last posted its quarterly earnings results on Tuesday, April 30th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.04. The business had revenue of $48.50 million during the quarter, compared to the consensus estimate of $44.67 million. Silk Road Medical had a negative net margin of 29.02% and a negative return on equity of 35.47%. Silk Road Medical’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.43) earnings per share. As a group, equities analysts expect that Silk Road Medical will post -1.43 earnings per share for the current fiscal year.

About Silk Road Medical

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.