SI-BONE (SIBN) Earns Overweight Rating from Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of SI-BONE (NASDAQ:SIBN) in a research report released on Monday morning, MarketBeat reports. The firm issued an overweight rating and a $24.00 price target on the stock.

A number of other brokerages have also recently issued reports on SIBN. JMP Securities assumed coverage on SI-BONE in a report on Monday. They set an outperform rating and a $27.00 price objective for the company. Canaccord Genuity assumed coverage on SI-BONE in a report on Monday. They set a buy rating and a $25.00 price objective for the company.

Shares of NASDAQ:SIBN opened at $17.57 on Monday. SI-BONE has a 12-month low of $17.22 and a 12-month high of $21.96.

In other news, major shareholder Skyline Venture Partners V. Lp acquired 325,000 shares of SI-BONE stock in a transaction dated Friday, October 19th. The stock was bought at an average price of $15.00 per share, for a total transaction of $4,875,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David P. Bonita acquired 200,000 shares of SI-BONE stock in a transaction dated Friday, October 19th. The shares were purchased at an average price of $15.00 per share, with a total value of $3,000,000.00. The disclosure for this purchase can be found here.

SI-BONE Company Profile

SI-BONE, Inc, a medical device company, develops and commercializes a proprietary minimally invasive surgical implant system in the United States and Internationally. It offers iFuse, an implant system to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that causes lower back pain. The company was founded in 2008 and is headquartered in Santa Clara, California.

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