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.
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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