Apollo Endosurgery (APEN) Rating Reiterated by Northland Securities

Apollo Endosurgery (NASDAQ:APEN)‘s stock had its “buy” rating reiterated by Northland Securities in a research note issued on Monday. They currently have a $12.00 price objective on the biotechnology company’s stock. Northland Securities’ target price points to a potential upside of 194.84% from the company’s current price.

The analysts wrote, “We highlight an interesting effort being undertaken by Apollo to evaluate possibility of reimbursement” for the Orbera IGB, as a precursor to other major surgeries. Clinically, the proposition makes sense; the question really remains….how do we get reimbursement? Key Points IGB’ prior to Heart Transplant Surgery Obesity is a complicating comorbidity in many patients with advanced HF & consensus recommendations advise against cardiac transplantation in patients with HF and BMI > 35 kg/m2. Transplant eligibility requires weight loss, which is challenging, as exercise capability is often limited owing to diminished functional status (Source: http://www.jhltonline.org/article/ S1053-2498(15)01484-9/fulltext#s0035) As is well known, there are roughly 4,000 heart transplants in the U.S. every year. The concept of using an Orbera IGB prior to an actual heart transplant or LVAD surgery is intriguing.””

Separately, Zacks Investment Research raised Apollo Endosurgery from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Apollo Endosurgery presently has a consensus rating of “Buy” and an average price target of $9.44.

Shares of Apollo Endosurgery (APEN) opened at $4.07 on Monday. Apollo Endosurgery has a 52 week low of $3.55 and a 52 week high of $21.88. The company has a current ratio of 2.54, a quick ratio of 2.00 and a debt-to-equity ratio of 0.58.

In related news, VP Bret Schwartzhoff purchased 9,500 shares of Apollo Endosurgery stock in a transaction dated Tuesday, November 7th. The shares were acquired at an average cost of $4.24 per share, for a total transaction of $40,280.00. Following the transaction, the vice president now directly owns 15,631 shares of the company’s stock, valued at $66,275.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 74.20% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of APEN. Russell Investments Group Ltd. bought a new position in shares of Apollo Endosurgery in the 3rd quarter worth $1,288,000. JPMorgan Chase & Co. bought a new position in shares of Apollo Endosurgery in the 3rd quarter worth $119,000. Woodmont Investment Counsel LLC bought a new position in shares of Apollo Endosurgery in the 3rd quarter worth $220,000. Stonepine Capital Management LLC bought a new position in shares of Apollo Endosurgery in the 3rd quarter worth $11,067,000. Finally, King Luther Capital Management Corp bought a new position in shares of Apollo Endosurgery in the 3rd quarter worth $2,567,000. Institutional investors and hedge funds own 23.67% of the company’s stock.

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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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