Oppenheimer Reaffirms Their Buy Rating on Silk Road Medical (SILK)

Oppenheimer analyst Suraj Kalia maintained a Buy rating on Silk Road Medical (SILK – Research Report) today and set a price target of $25.00. The company’s shares closed yesterday at $19.44.

According to TipRanks, Kalia is a 4-star analyst with an average return of 5.7% and a 52.51% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Edwards Lifesciences, TransMedics Group, and Nyxoah.

Currently, the analyst consensus on Silk Road Medical is a Moderate Buy with an average price target of $20.71, which is a 6.53% upside from current levels. In a report released yesterday, Lake Street also reiterated a Buy rating on the stock with a $28.00 price target.

Based on Silk Road Medical’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $47.27 million and a GAAP net loss of $13.01 million. In comparison, last year the company earned a revenue of $40.07 million and had a GAAP net loss of $12.61 million

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SILK in relation to earlier this year.

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Silk Road Medical (SILK) Company Description:

Silk Road Medical, Inc. develops and manufactures medical devices to treat neurovascular diseases. The firm’s devices enable vascular access via a puncture adjacent to the collarbone instead of the traditional approach of accessing the vascular system through the groin. Its products include ENROUTE Transcarotid Neuroprotection & Stent System. The company was founded by Tony M. Chou and Michi Garrison on March 21, 2007 and is headquartered in Sunnyvale, CA.