Obalon Therapeutics (NASDAQ:OBLN)‘s stock had its “hold” rating reiterated by research analysts at Northland Securities in a report issued on Wednesday, September 12th. They currently have a $2.50 price target on the stock. Northland Securities’ target price points to a potential upside of 0.40% from the stock’s previous close.
The analysts wrote, “We are tweaking our PT to $2.50, but maintain our Neutral stance.””
OBLN has been the topic of a number of other reports. Zacks Investment Research cut Obalon Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. Roth Capital initiated coverage on Obalon Therapeutics in a research report on Thursday, September 6th. They issued a “buy” rating and a $6.00 price target on the stock. ValuEngine upgraded Obalon Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, July 4th. BTIG Research reiterated a “buy” rating on shares of Obalon Therapeutics in a research report on Sunday, August 5th. Finally, Stifel Nicolaus increased their target price on Obalon Therapeutics from $2.50 to $3.50 and gave the stock a “hold” rating in a report on Tuesday, September 11th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $6.39.
OBLN traded down $0.02 during trading on Wednesday, reaching $2.49. The company had a trading volume of 37,729 shares, compared to its average volume of 178,341. The company has a current ratio of 2.98, a quick ratio of 2.80 and a debt-to-equity ratio of 0.37. Obalon Therapeutics has a 12-month low of $1.46 and a 12-month high of $10.22. The stock has a market capitalization of $62.87 million, a P/E ratio of -1.20 and a beta of -1.20.
Obalon Therapeutics (NASDAQ:OBLN) last released its earnings results on Thursday, August 2nd. The company reported ($0.57) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.06). The business had revenue of $2.73 million for the quarter, compared to analysts’ expectations of $3.40 million. Obalon Therapeutics had a negative net margin of 205.20% and a negative return on equity of 72.76%. On average, research analysts predict that Obalon Therapeutics will post -2.18 earnings per share for the current year.
In other Obalon Therapeutics news, major shareholder Parters Vii L. P. Domain purchased 1,648,359 shares of the stock in a transaction on Thursday, August 23rd. The stock was bought at an average cost of $1.82 per share, for a total transaction of $3,000,013.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kim P. Kamdar purchased 54,945 shares of the stock in a transaction on Thursday, August 23rd. The stock was acquired at an average price of $1.82 per share, with a total value of $99,999.90. The disclosure for this purchase can be found here. Corporate insiders own 17.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in the business. Interwest Venture Management Co. increased its holdings in shares of Obalon Therapeutics by 44.8% in the third quarter. Interwest Venture Management Co. now owns 3,552,239 shares of the company’s stock worth $9,591,000 after acquiring an additional 1,098,901 shares in the last quarter. C WorldWide Group Holding A S grew its holdings in shares of Obalon Therapeutics by 27.3% during the second quarter. C WorldWide Group Holding A S now owns 315,790 shares of the company’s stock worth $679,000 after buying an additional 67,746 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Obalon Therapeutics by 288.4% during the second quarter. Renaissance Technologies LLC now owns 56,700 shares of the company’s stock worth $122,000 after buying an additional 42,100 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Obalon Therapeutics by 170.4% during the fourth quarter. Deutsche Bank AG now owns 21,120 shares of the company’s stock worth $138,000 after buying an additional 13,309 shares in the last quarter. Institutional investors own 23.85% 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 obese and overweight people by facilitating weight loss. It 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.
Further Reading: Earnings Per Share (EPS)
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