Obalon Therapeutics (OBLN) Releases Earnings Results, Misses Estimates By $0.08 EPS

Obalon Therapeutics (NASDAQ:OBLN) released its earnings results on Friday. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.08), MarketWatch Earnings reports. The business had revenue of $2.04 million for the quarter, compared to the consensus estimate of $2.10 million. Obalon Therapeutics had a negative net margin of 178.84% and a negative return on equity of 80.38%.

Shares of OBLN traded down $0.22 during mid-day trading on Friday, reaching $1.96. 118,897 shares of the company’s stock traded hands, compared to its average volume of 47,411. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.58 and a current ratio of 4.85. The stock has a market cap of $51.26 million, a price-to-earnings ratio of -0.94 and a beta of -0.98. Obalon Therapeutics has a 12 month low of $1.46 and a 12 month high of $4.50.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc boosted its holdings in shares of Obalon Therapeutics by 1.6% in the third quarter. Vanguard Group Inc now owns 444,050 shares of the company’s stock valued at $1,199,000 after purchasing an additional 6,900 shares during the period. Hoylecohen LLC boosted its holdings in shares of Obalon Therapeutics by 469.0% in the third quarter. Hoylecohen LLC now owns 114,650 shares of the company’s stock valued at $310,000 after purchasing an additional 94,500 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Obalon Therapeutics by 43.2% in the third quarter. Renaissance Technologies LLC now owns 81,200 shares of the company’s stock valued at $219,000 after purchasing an additional 24,500 shares during the period. Granite Investment Partners LLC purchased a new stake in shares of Obalon Therapeutics in the third quarter valued at approximately $210,000. Finally, Geode Capital Management LLC purchased a new stake in shares of Obalon Therapeutics in the fourth quarter valued at approximately $137,000. Hedge funds and other institutional investors own 30.26% of the company’s stock.

A number of research firms have recently commented on OBLN. Zacks Investment Research cut Obalon Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, November 9th. Roth Capital reaffirmed a “buy” rating on shares of Obalon Therapeutics in a research note on Tuesday, February 5th. Finally, Northland Securities reaffirmed a “hold” rating and set a $2.00 target price on shares of Obalon Therapeutics in a research note on Thursday, January 3rd. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $4.54.

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About Obalon Therapeutics

Obalon Therapeutics, Inc, a vertically integrated medical device company, focuses on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. It offers the Obalon balloon system designed to provide weight loss in obese patients. Obalon Therapeutics, Inc was founded in 2008 and is headquartered in Carlsbad, California.

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Earnings History for Obalon Therapeutics (NASDAQ:OBLN)

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