Analysts Set Silk Road Medical, Inc (NASDAQ:SILK) Price Target at $20.85

Shares of Silk Road Medical, Inc (NASDAQ:SILK) have earned a consensus recommendation of “Hold” from the eleven brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $20.85.

Several research analysts have weighed in on the stock. Argus raised shares of Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Thursday, March 7th. JPMorgan Chase & Co. increased their target price on Silk Road Medical from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Lake Street Capital restated a “hold” rating and issued a $27.50 price target (down from $28.00) on shares of Silk Road Medical in a research note on Tuesday, June 18th. Finally, Piper Sandler increased their price objective on Silk Road Medical from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st.

Institutional Investors Weigh In On Silk Road Medical

Several institutional investors and hedge funds have recently bought and sold shares of the company. Swiss National Bank raised its position in shares of Silk Road Medical by 1.7% in the 3rd quarter. Swiss National Bank now owns 85,200 shares of the company’s stock valued at $1,277,000 after buying an additional 1,400 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Silk Road Medical by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 298,144 shares of the company’s stock worth $4,469,000 after purchasing an additional 9,667 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Silk Road Medical in the 3rd quarter valued at $1,456,000. Adage Capital Partners GP L.L.C. increased its stake in shares of Silk Road Medical by 33.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 200,000 shares of the company’s stock valued at $2,998,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Bullseye Asset Management LLC raised its holdings in shares of Silk Road Medical by 39.8% during the 3rd quarter. Bullseye Asset Management LLC now owns 111,718 shares of the company’s stock worth $1,675,000 after buying an additional 31,816 shares in the last quarter.

Silk Road Medical Price Performance

NASDAQ:SILK opened at $27.04 on Wednesday. The company has a quick ratio of 9.62, a current ratio of 11.05 and a debt-to-equity ratio of 0.52. Silk Road Medical has a 12-month low of $6.08 and a 12-month high of $33.13. The stock’s 50 day moving average price is $21.85 and its two-hundred day moving average price is $17.78. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -19.74 and a beta of 1.51.

Silk Road Medical (NASDAQ:SILK) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.04. The firm had revenue of $48.50 million during the quarter, compared to analysts’ expectations of $44.67 million. Silk Road Medical had a negative net margin of 29.02% and a negative return on equity of 35.47%. The company’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 business posted ($0.43) earnings per share. On average, analysts anticipate that Silk Road Medical will post -1.43 earnings per share for the current year.

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.