Northland Securities Reaffirms Hold Rating for Obalon Therapeutics (NASDAQ:OBLN)

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Northland Securities restated their hold rating on shares of Obalon Therapeutics (NASDAQ:OBLN) in a report released on Thursday, AnalystRatings.com reports. The firm currently has a $1.00 target price on the stock.

“We assume” that the $5M in debt still has covenants restricting $5M cash on hand.”,” Northland Securities’ analyst commented.

Other equities research analysts have also issued reports about the company. ValuEngine lowered Verso from a hold rating to a sell rating in a research note on Thursday, May 23rd. Zacks Investment Research upgraded General Moly from a sell rating to a hold rating in a research note on Thursday. Finally, Canaccord Genuity set a $220.00 price target on SAGE Therapeutics and gave the stock a buy rating in a research note on Monday, April 8th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Obalon Therapeutics presently has a consensus rating of Hold and a consensus target price of $2.04.

NASDAQ:OBLN opened at $0.64 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.20 and a debt-to-equity ratio of 0.13. Obalon Therapeutics has a one year low of $0.37 and a one year high of $3.70. The business has a fifty day moving average of $0.81.

Obalon Therapeutics (NASDAQ:OBLN) last posted its quarterly earnings data on Friday, May 10th. The company reported ($0.36) EPS for the quarter, hitting the consensus estimate of ($0.36). The firm had revenue of $1.78 million during the quarter, compared to analyst estimates of $1.74 million. Obalon Therapeutics had a negative return on equity of 100.59% and a negative net margin of 147.30%. Sell-side analysts expect that Obalon Therapeutics will post -1.07 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Obalon Therapeutics by 31.8% during the 4th quarter. BlackRock Inc. now owns 33,727 shares of the company’s stock valued at $70,000 after purchasing an additional 8,142 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Obalon Therapeutics during the 4th quarter valued at about $29,000. Finally, Geode Capital Management LLC bought a new stake in shares of Obalon Therapeutics during the 4th quarter valued at about $137,000. Institutional investors and hedge funds own 22.03% of the company’s stock.

Obalon Therapeutics Company Profile

Obalon Therapeutics, Inc, a vertically integrated medical device company, focuses on developing and commercializing medical devices to treat people who are obese and overweight. The company offers the Obalon balloon system designed to provide weight loss in obese patients. Obalon Therapeutics, Inc was founded in 2008 and is headquartered in Carlsbad, California.

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Analyst Recommendations for Obalon Therapeutics (NASDAQ:OBLN)

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