Obalon Therapeutics Inc (OBLN) Given Consensus Rating of “Hold” by Brokerages

Obalon Therapeutics Inc (NASDAQ:OBLN) has earned an average recommendation of “Hold” from the six research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $10.88.

OBLN has been the topic of a number of analyst reports. Zacks Investment Research raised Obalon Therapeutics from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research note on Thursday, January 11th. BTIG Research reissued a “buy” rating and issued a $15.00 price target on shares of Obalon Therapeutics in a research note on Thursday, November 16th. UBS Group cut their price target on Obalon Therapeutics from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, November 10th. Finally, Northland Securities reissued a “sell” rating and issued a $4.00 price target on shares of Obalon Therapeutics in a research note on Friday, November 3rd.

Obalon Therapeutics (OBLN) opened at $7.90 on Tuesday. The company has a market capitalization of $137.79 and a price-to-earnings ratio of -4.09. The company has a debt-to-equity ratio of 0.21, a current ratio of 8.78 and a quick ratio of 8.65. Obalon Therapeutics has a 12-month low of $6.53 and a 12-month high of $13.18.

Obalon Therapeutics (NASDAQ:OBLN) last announced its quarterly earnings data on Friday, November 3rd. The company reported ($0.55) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.12). The firm had revenue of $2.79 million during the quarter, compared to the consensus estimate of $2.95 million. Obalon Therapeutics had a negative net margin of 459.54% and a negative return on equity of 59.77%. equities research analysts predict that Obalon Therapeutics will post -1.98 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. C WorldWide Group Holding A S lifted its stake in shares of Obalon Therapeutics by 13.7% in the 3rd quarter. C WorldWide Group Holding A S now owns 276,211 shares of the company’s stock valued at $2,632,000 after purchasing an additional 33,318 shares during the period. Vanguard Group Inc. lifted its stake in shares of Obalon Therapeutics by 8.3% in the 2nd quarter. Vanguard Group Inc. now owns 170,266 shares of the company’s stock valued at $1,687,000 after purchasing an additional 13,108 shares during the period. Granite Investment Partners LLC acquired a new stake in Obalon Therapeutics during the 3rd quarter worth $1,036,000. Northern Trust Corp raised its stake in Obalon Therapeutics by 109.8% during the 2nd quarter. Northern Trust Corp now owns 92,237 shares of the company’s stock worth $914,000 after buying an additional 48,268 shares during the period. Finally, Royal Bank of Canada raised its stake in Obalon Therapeutics by 6.7% during the 2nd quarter. Royal Bank of Canada now owns 91,499 shares of the company’s stock worth $907,000 after buying an additional 5,732 shares during the period. 44.05% of the stock is currently owned by institutional investors.

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Obalon Therapeutics 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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