Obalon Therptcs (NASDAQ:OBLN) has earned an average recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $14.67.
Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Obalon Therptcs from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Northland Securities restated a “sell” rating and issued a $6.00 price target on shares of Obalon Therptcs in a research note on Wednesday, August 2nd. Finally, UBS AG reiterated a “buy” rating and set a $20.00 price objective (down previously from $22.00) on shares of Obalon Therptcs in a research note on Thursday, August 3rd.
Shares of Obalon Therptcs (NASDAQ:OBLN) traded up $0.50 during trading hours on Thursday, hitting $8.96. 79,826 shares of the company’s stock traded hands, compared to its average volume of 52,809. The company has a quick ratio of 13.14, a current ratio of 13.29 and a debt-to-equity ratio of 0.20.
Obalon Therptcs (NASDAQ:OBLN) last announced its quarterly earnings results on Friday, November 3rd. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.12). Obalon Therptcs had a negative net margin of 566.87% and a negative return on equity of 108.07%. The firm had revenue of $2.79 million during the quarter, compared to analyst estimates of $2.95 million. equities research analysts forecast that Obalon Therptcs will post -1.81 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Kornitzer Capital Management Inc. KS increased its stake in shares of Obalon Therptcs by 0.5% during the second quarter. Kornitzer Capital Management Inc. KS now owns 422,410 shares of the company’s stock valued at $4,186,000 after acquiring an additional 2,075 shares during the period. William Blair Investment Management LLC increased its stake in shares of Obalon Therptcs by 168.9% during the second quarter. William Blair Investment Management LLC now owns 329,643 shares of the company’s stock valued at $3,267,000 after acquiring an additional 207,041 shares during the period. C WorldWide Group Holding A S increased its stake in shares of Obalon Therptcs by 22.8% during the second quarter. C WorldWide Group Holding A S now owns 242,893 shares of the company’s stock valued at $2,407,000 after acquiring an additional 45,088 shares during the period. Vanguard Group Inc. increased its stake in shares of Obalon Therptcs by 8.3% during the second quarter. Vanguard Group Inc. now owns 170,266 shares of the company’s stock valued at $1,687,000 after acquiring an additional 13,108 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Obalon Therptcs by 109.8% during the second quarter. Northern Trust Corp now owns 92,237 shares of the company’s stock valued at $914,000 after acquiring an additional 48,268 shares during the period. Institutional investors and hedge funds own 44.61% of the company’s stock.
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Obalon Therptcs Company Profile
Obalon Therapeutics, Inc is a United States-based commercial-stage medical device company focused on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. The Company’s product, Obalon balloon system, is a swallowable, gas-filled intragastric balloon designed to provide weight loss in obese patients.
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