Fintel reports that on August 9, 2023, Cantor Fitzgerald reiterated coverage of SI-BONE (NASDAQ:SIBN) with a Overweight recommendation.
Analyst Price Forecast Suggests 50.58% Upside
As of August 2, 2023, the average one-year price target for SI-BONE is 31.36. The forecasts range from a low of 27.27 to a high of $34.65. The average price target represents an increase of 50.58% from its latest reported closing price of 20.83.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for SI-BONE is 129MM, an increase of 3.95%. The projected annual non-GAAP EPS is -1.62.
What is the Fund Sentiment?
There are 304 funds or institutions reporting positions in SI-BONE. This is an increase of 28 owner(s) or 10.14% in the last quarter. Average portfolio weight of all funds dedicated to SIBN is 0.19%, an increase of 39.89%. Total shares owned by institutions decreased in the last three months by 0.92% to 39,760K shares. 
The put/call ratio of SIBN is 0.13, indicating a bullish outlook.
What are Other Shareholders Doing?
Brown Advisory holds 3,954K shares representing 10.22% ownership of the company. In it's prior filing, the firm reported owning 3,892K shares, representing an increase of 1.58%. The firm increased its portfolio allocation in SIBN by 33.93% over the last quarter.
Orbimed Advisors holds 2,919K shares representing 7.55% ownership of the company. In it's prior filing, the firm reported owning 3,368K shares, representing a decrease of 15.36%. The firm increased its portfolio allocation in SIBN by 28.11% over the last quarter.
First Light Asset Management holds 2,114K shares representing 5.47% ownership of the company. In it's prior filing, the firm reported owning 2,105K shares, representing an increase of 0.41%. The firm increased its portfolio allocation in SIBN by 40.88% over the last quarter.
Champlain Investment Partners holds 1,706K shares representing 4.41% ownership of the company. In it's prior filing, the firm reported owning 1,743K shares, representing a decrease of 2.18%. The firm increased its portfolio allocation in SIBN by 138,852.72% over the last quarter.
Millennium Management holds 1,659K shares representing 4.29% ownership of the company. In it's prior filing, the firm reported owning 1,546K shares, representing an increase of 6.85%. The firm increased its portfolio allocation in SIBN by 60.92% over the last quarter.
SI-BONE Background Information
(This description is provided by the company.)
SI-BONE is a medical device company that pioneered minimally invasive surgery of the SI joint with the iFuse Implant System. Studies have shown that the SI joint can be a source of pain in 15% to 30% of chronic low back pain. The iFuse Implant™, commercially available since 2009, is the only SI joint fusion device supported by multiple prospective clinical studies, including two randomized controlled trials, showing improved pain, patient function and quality of life resulting from treatment. There are over 90 peer-reviewed publications demonstrating the safety, durable effectiveness, and biomechanical and economic benefits unique to the iFuse Implant (www.si-bone.com/results). This body of evidence has enabled multiple government and private insurance payors to establish coverage of the SI joint fusion procedure exclusively when performed with the iFuse Implant System.
Additional reading:
- SI-BONE, Inc. Reports Financial Results for the Second Quarter 2023 and Increases Annual Guidance Annual guidance increased to $132 million - $134 million, implying annual growth of 24%-26%
- SI-BONE, Inc. _____________, As Warrant Agent Form Of Common Stock Warrant Agreement Dated As Of __________ SI-BONE, INC. FORM OF COMMON STOCK WARRANT AGREEMENT
- SI-BONE, Inc. _____________, As Warrant Agent Form Of Preferred Stock Warrant Agreement Dated As Of __________ SI-BONE, INC. FORM OF PREFERRED STOCK WARRANT AGREEMENT
- First Amendment to Loan and Security Agreement, dated January 6, 2023, between SI-BONE, Inc. and Silicon Valley Bank
- Letter Agreement, dated March 24, 2023 between SI-BONE, Inc. and Silicon Valley Bridge Bank.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
