Silk Road Medical (NASDAQ:SILK) Given New $21.00 Price Target at JPMorgan Chase & Co.

Silk Road Medical (NASDAQ:SILK) had its price target lifted by JPMorgan Chase & Co. from $19.00 to $21.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts also recently weighed in on SILK. Stifel Nicolaus raised their target price on shares of Silk Road Medical from $20.00 to $23.00 and gave the company a buy rating in a report on Thursday, February 29th. Lake Street Capital assumed coverage on shares of Silk Road Medical in a research report on Wednesday, January 3rd. They issued a buy rating and a $20.00 price target on the stock. Piper Sandler lifted 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. Finally, Argus upgraded Silk Road Medical from a hold rating to a buy rating and set a $24.00 target price on the stock in a report on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $22.55.

Silk Road Medical Price Performance

SILK stock opened at $20.16 on Wednesday. The company has a market cap of $795.11 million, a price-to-earnings ratio of -14.72 and a beta of 1.43. The company has a current ratio of 7.95, a quick ratio of 6.97 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $17.63 and a 200-day moving average of $13.49. Silk Road Medical has a 12-month low of $6.08 and a 12-month high of $44.11.

Silk Road Medical (NASDAQ:SILK) last issued its quarterly earnings data on Tuesday, April 30th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 35.12% and a negative net margin of 29.02%. Silk Road Medical’s revenue was up 20.9% on a year-over-year basis. 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 -1.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Silk Road Medical news, insider Andrew S. Davis sold 5,481 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total value of $94,108.77. Following the transaction, the insider now directly owns 287,773 shares of the company’s stock, valued at $4,941,062.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Kevin M. Klemz sold 2,497 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total transaction of $42,873.49. Following the transaction, the executive vice president now directly owns 165,194 shares of the company’s stock, valued at approximately $2,836,380.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew S. Davis sold 5,481 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total value of $94,108.77. Following the completion of the transaction, the insider now owns 287,773 shares of the company’s stock, valued at approximately $4,941,062.41. The disclosure for this sale can be found here. In the last three months, insiders sold 20,457 shares of company stock valued at $351,247. Company insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SILK. Wasatch Advisors LP grew its holdings in Silk Road Medical by 12.4% during the 1st quarter. Wasatch Advisors LP now owns 4,549,742 shares of the company’s stock valued at $83,351,000 after purchasing an additional 500,581 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Silk Road Medical by 707.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company’s stock valued at $24,675,000 after acquiring an additional 1,762,048 shares in the last quarter. Armistice Capital LLC purchased a new stake in shares of Silk Road Medical during the fourth quarter worth about $21,693,000. Bellevue Group AG lifted its stake in shares of Silk Road Medical by 0.4% in the fourth quarter. Bellevue Group AG now owns 1,435,682 shares of the company’s stock worth $17,616,000 after acquiring an additional 5,120 shares in the last quarter. Finally, Rubric Capital Management LP acquired a new position in shares of Silk Road Medical in the 4th quarter valued at approximately $17,520,000.

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.