Zacks: Silk Road Medical Inc (NASDAQ:SILK) Receives Average Recommendation of “Buy” from Brokerages

Shares of Silk Road Medical Inc (NASDAQ:SILK) have been given an average broker rating score of 1.50 (Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and three have assigned a strong buy recommendation to the company.

Brokerages have set a twelve-month consensus price objective of $51.67 for the company and are expecting that the company will post ($0.27) EPS for the current quarter, according to Zacks. Zacks has also given Silk Road Medical an industry rank of 77 out of 256 based on the ratings given to related companies.

A number of research analysts have recently commented on the stock. Bank of America assumed coverage on shares of Silk Road Medical in a research report on Monday, April 29th. They set a “neutral” rating and a $43.00 price objective for the company. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Silk Road Medical from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. assumed coverage on shares of Silk Road Medical in a research report on Monday, April 29th. They set an “overweight” rating and a $45.00 price objective for the company. BMO Capital Markets assumed coverage on shares of Silk Road Medical in a research report on Monday, April 29th. They set an “outperform” rating and a $40.01 price objective for the company. Finally, Stifel Nicolaus assumed coverage on shares of Silk Road Medical in a research report on Monday, April 29th. They set a “buy” rating and a $44.00 price objective for the company.

Silk Road Medical stock traded down $1.06 on Monday, reaching $39.91. 15,701 shares of the stock were exchanged, compared to its average volume of 190,951. The company’s fifty day moving average is $44.03. Silk Road Medical has a twelve month low of $30.87 and a twelve month high of $51.50.

Silk Road Medical (NASDAQ:SILK) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.42) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.14). The firm had revenue of $14.93 million for the quarter, compared to analyst estimates of $13.64 million. Silk Road Medical’s revenue for the quarter was up 92.2% on a year-over-year basis. Analysts forecast that Silk Road Medical will post -2.02 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new stake in Silk Road Medical in the second quarter valued at about $70,000. Advisor Group Inc. bought a new stake in Silk Road Medical in the second quarter valued at about $78,000. Steward Partners Investment Advisory LLC bought a new stake in Silk Road Medical in the second quarter valued at about $84,000. Strs Ohio bought a new stake in Silk Road Medical in the second quarter valued at about $92,000. Finally, Columbus Circle Investors bought a new stake in Silk Road Medical in the second quarter valued at about $1,074,000. 8.04% of the stock is currently owned by institutional investors and hedge funds.

About Silk Road Medical

Silk Road Medical, Inc operates as a medical device company in the United States. It offers ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and initiate temporary blood flow reversal; ENROUTE Transcarotid Stent System, a self-expanding, self-tapering stent with clinical data regarding lasting safety outcomes; ENHANCE Transcarotid Peripheral Access Kit for use in gaining initial access to the common carotid artery; and ENROUTE 0.014 Guidewire for navigating and crossing the target lesion for delivery of interventional devices.

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