Zacks Investment Research Lowers Obseva (OBSV) to Hold

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Zacks Investment Research downgraded shares of Obseva (NASDAQ:OBSV) from a buy rating to a hold rating in a research note released on Wednesday.

According to Zacks, “ObsEva SA is a clinical-stage biopharmaceutical company. It focuses on the development and commercialization of novel therapeutics for woman’s reproductive health and pregnancy. ObsEva SA is headquartered in Geneva, Switzerland. “

A number of other research firms also recently issued reports on OBSV. BMO Capital Markets increased their price target on shares of Obseva from $23.00 to $31.00 and gave the stock an outperform rating in a research note on Monday, June 18th. Wedbush set a $34.00 price target on shares of Obseva and gave the stock a buy rating in a research note on Wednesday, October 3rd. HC Wainwright set a $30.00 price target on shares of Obseva and gave the stock a buy rating in a research note on Monday, July 16th. Credit Suisse Group began coverage on shares of Obseva in a research note on Thursday, July 19th. They issued an outperform rating and a $24.00 price target for the company. Finally, JPMorgan Chase & Co. began coverage on shares of Obseva in a research note on Thursday, September 13th. They issued an overweight rating and a $29.00 price target for the company. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $28.00.

OBSV stock traded up $0.30 during trading on Wednesday, reaching $16.30. The company had a trading volume of 45,087 shares, compared to its average volume of 83,021. Obseva has a 52 week low of $8.79 and a 52 week high of $20.35. The company has a market cap of $656.95 million, a P/E ratio of -7.24 and a beta of 1.49.

Obseva (NASDAQ:OBSV) last released its quarterly earnings results on Wednesday, August 8th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.54) by $0.05. As a group, equities research analysts anticipate that Obseva will post -1.93 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC bought a new position in shares of Obseva during the second quarter valued at approximately $349,000. Millennium Management LLC bought a new position in shares of Obseva during the second quarter valued at approximately $2,459,000. Acuta Capital Partners LLC bought a new position in shares of Obseva during the second quarter valued at approximately $6,424,000. Point72 Asset Management L.P. bought a new position in shares of Obseva during the second quarter valued at approximately $3,028,000. Finally, DRW Securities LLC increased its stake in shares of Obseva by 55.0% during the second quarter. DRW Securities LLC now owns 33,812 shares of the company’s stock valued at $512,000 after purchasing an additional 12,000 shares in the last quarter. 68.26% of the stock is owned by institutional investors and hedge funds.

Obseva Company Profile

ObsEva SA, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for women suffering from reproductive health and pregnancy disorders. It is developing OBE2109, an oral gonadotropin-releasing hormone receptor antagonist for the treatment of pain associated with endometriosis and heavy menstrual bleeding associated with uterine fibroids in pre-menopausal women; nolasiban, an oral oxytocin receptor antagonist to enhance clinical pregnancy and live birth rates in women undergoing in vitro fertilization; and OBE022, an oral and selective prostaglandin F2a, or PGF2a receptor antagonist, as a once daily treatment for preterm labor in weeks 24 to 34 of gestational age.

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