Caitlin Cronin, an analyst from Canaccord Genuity, maintained the Buy rating on SI-Bone (SIBN – Research Report). The associated price target remains the same with $25.00.
Caitlin Cronin’s rating is based on SI-Bone’s strong financial performance and strategic initiatives. The company has shown impressive year-over-year growth in both revenue and active surgeon engagement, with a record performance in the latest quarter. This growth is supported by their innovative product launches, such as the Granite 9.5 and the iFuse TORQ TNT Implant System, which have exceeded expectations and are driving further market penetration.
Cronin also highlights the company’s strategic focus on expanding its platform to address unmet clinical needs in the sacropelvic solutions space. With promising early engagement from interventional spine doctors and supportive reimbursement developments, SI-Bone is positioned for sustainable growth. The company’s expectation of continued revenue growth and operating leverage, along with anticipated profitability by 2025, reinforces the Buy rating. The combination of these factors suggests a strong potential for future success, making SI-Bone a compelling investment opportunity.
Cronin covers the Healthcare sector, focusing on stocks such as Globus Medical, Vericel, and Stryker. According to TipRanks, Cronin has an average return of 16.1% and a 64.71% success rate on recommended stocks.
In another report released today, JMP Securities also maintained a Buy rating on the stock with a $32.00 price target.