Analyst Kallum Titchmarsh of Morgan Stanley reiterated a Buy rating on SI-Bone (SIBN – Research Report), retaining the price target of $19.00.
Kallum Titchmarsh has given his Buy rating due to a combination of factors that highlight SI-Bone’s strong performance and growth potential. The company’s recent financial results have surpassed expectations, with sales and profit metrics significantly ahead of projections. This positive performance is supported by a notable increase in the number of physicians using SI-Bone’s products, as well as a substantial rise in the number of procedures performed, indicating strong market adoption.
Furthermore, Titchmarsh points out that SI-Bone’s guidance for 2025 appears conservative, suggesting room for future upward revisions. The company is also positioned to benefit from several upcoming catalysts, such as new product launches and favorable reimbursement changes. Despite broader market pressures affecting peer companies, SI-Bone’s robust execution and strategic initiatives provide a solid basis for maintaining a price target of $19, reinforcing the Buy recommendation.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $23.00 price target.
Based on the recent corporate insider activity of 50 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 SIBN in relation to earlier this year.