Obalon Therptcs (NASDAQ:OBLN) is set to announce its earnings results before the market opens on Friday, November 3rd. Analysts expect the company to announce earnings of ($0.43) per share for the quarter.
Obalon Therptcs (NASDAQ:OBLN) last released its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.03). The company had revenue of $1.96 million for the quarter, compared to analyst estimates 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 Obalon Therptcs to post $-1.86 EPS for the current fiscal year and $-1.65 EPS for the next fiscal year.
Obalon Therptcs (OBLN) opened at 8.43 on Wednesday. Obalon Therptcs has a 52-week low of $7.98 and a 52-week high of $12.60. The company’s 50-day moving average is $9.53 and its 200-day moving average is $9.54. The firm’s market capitalization is $141.83 million.
Several hedge funds have recently bought and sold shares of OBLN. Vanguard Group Inc. raised its stake in shares of Obalon Therptcs by 8.3% during the second quarter. Vanguard Group Inc. now owns 170,266 shares of the company’s stock worth $1,687,000 after acquiring an additional 13,108 shares in the last quarter. State Street Corp increased its stake in shares of Obalon Therptcs by 66.1% in the second quarter. State Street Corp now owns 71,242 shares of the company’s stock worth $705,000 after buying an additional 28,356 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of Obalon Therptcs by 53.5% in the second quarter. California State Teachers Retirement System now owns 15,200 shares of the company’s stock worth $151,000 after buying an additional 5,300 shares during the period. 44.61% of the stock is currently owned by hedge funds and other institutional investors.
OBLN has been the topic of a number of recent analyst reports. UBS AG reaffirmed a “buy” rating and issued a $20.00 target price (down from $22.00) on shares of Obalon Therptcs in a research note on Wednesday, August 9th. Northland Securities reaffirmed a “sell” rating and issued a $6.00 target price on shares of Obalon Therptcs in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research raised shares of Obalon Therptcs from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Obalon Therptcs currently has a consensus rating of “Hold” and a consensus price target of $15.75.
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Obalon Therptcs Company Profile
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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