OBALON THERPTCS (OBLN) Given Buy Rating at UBS AG

UBS AG restated their buy rating on shares of OBALON THERPTCS (NASDAQ:OBLN) in a report issued on Wednesday, August 9th, www.flashratings.com reports. UBS AG currently has a $20.00 price objective on the stock, down from their prior price objective of $22.00.

Several other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of OBALON THERPTCS from a hold rating to a sell rating in a report on Tuesday, August 8th. Northland Securities reissued a sell rating and issued a $6.00 price target on shares of OBALON THERPTCS in a report on Wednesday, August 2nd. ValuEngine upgraded shares of OBALON THERPTCS from a strong sell rating to a sell rating in a research report on Friday, June 2nd. Finally, Canaccord Genuity restated a buy rating on shares of OBALON THERPTCS in a research report on Thursday, May 18th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. OBALON THERPTCS currently has an average rating of Hold and an average price target of $15.17.

OBALON THERPTCS (NASDAQ OBLN) opened at 8.84 on Wednesday. The company’s 50-day moving average is $8.85 and its 200-day moving average is $9.86. The company’s market capitalization is $148.72 million. OBALON THERPTCS has a 52-week low of $7.98 and a 52-week high of $15.88.

OBALON THERPTCS (NASDAQ:OBLN) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.43) by $0.03. The company had revenue of $1.96 million during the quarter, compared to analysts’ expectations of $1.77 million. OBALON THERPTCS had a negative return on equity of 108.07% and a negative net margin of 566.87%. On average, analysts expect that OBALON THERPTCS will post ($1.86) earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. William Blair Investment Management LLC boosted its position in shares of OBALON THERPTCS by 168.9% in the second quarter. William Blair Investment Management LLC now owns 329,643 shares of the company’s stock worth $3,267,000 after buying an additional 207,041 shares during the last quarter. C WorldWide Group Holding A S boosted its position in shares of OBALON THERPTCS by 97.8% in the first quarter. C WorldWide Group Holding A S now owns 197,805 shares of the company’s stock worth $2,115,000 after buying an additional 97,805 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of OBALON THERPTCS by 15.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 625,729 shares of the company’s stock worth $6,689,000 after buying an additional 85,594 shares during the last quarter. Meadow Creek Investment Management LLC acquired a new position in shares of OBALON THERPTCS during the first quarter worth approximately $659,000. Finally, Nicholas Investment Partners LP acquired a new position in shares of OBALON THERPTCS during the first quarter worth approximately $626,000. Institutional investors own 41.65% of the company’s stock.

About OBALON THERPTCS

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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