Apollo Endosurgery, Inc. (APEN) Lifted to Buy at Zacks Investment Research

Apollo Endosurgery, Inc. (NASDAQ:APEN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $4.75 target price on the biotechnology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 15.29% from the stock’s current price.

According to Zacks, “Apollo Endosurgery, Inc. is engaged in designing and manufacturing of medical devices for weight loss solutions and gastrointestinal disorders. The Company’s product segment includes ORBERA (R), LAP-BAND (R) and OverStitch(TM). The ORBERA is an Intragastric Balloon System which is a weight loss aid for adults suffering from obesity. The LAP-BAND System is developed for weight reduction for patients with obesity. The OverStitch Endoscopic Suturing System enables endoscopic surgery. It operates primarily in Asia Pacific, European Office, Latin and South America and Costa Rica. Apollo Endosurgery, Inc., formerly known as Lpath, Inc., is headquatered in Austin, Texas. “

APEN has been the subject of several other research reports. Northland Securities reissued a “buy” rating on shares of Apollo Endosurgery in a research report on Friday, October 27th. ValuEngine lowered Apollo Endosurgery from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 3rd. Roth Capital began coverage on Apollo Endosurgery in a research report on Wednesday, August 2nd. They set a “buy” rating and a $10.00 price objective for the company. Finally, Craig Hallum began coverage on Apollo Endosurgery in a research report on Monday, July 24th. They set a “buy” rating and a $11.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $9.44.

Apollo Endosurgery (NASDAQ:APEN) last announced its earnings results on Tuesday, August 1st. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.40). Apollo Endosurgery had a negative return on equity of 98.11% and a negative net margin of 62.31%. The firm had revenue of $17.14 million during the quarter.

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Apollo Endosurgery Company Profile

Apollo Endosurgery, Inc, formerly Lpath, Inc, is a medical device company. The Company is focused on less invasive therapies for the treatment of obesity, as well as other gastrointestinal disorders. The Company’s device-based therapies are an alternative to invasive surgical procedures. The Company offers products in over 80 countries.

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