ValuEngine upgraded shares of Obalon Therapeutics (NASDAQ:OBLN) from a hold rating to a buy rating in a research note released on Wednesday morning.
A number of other equities analysts also recently commented on OBLN. Zacks Investment Research raised shares of Obalon Therapeutics from a sell rating to a hold rating in a research note on Friday, April 27th. Stifel Nicolaus downgraded shares of Obalon Therapeutics from a buy rating to a hold rating in a research note on Friday, May 11th. Northland Securities downgraded shares of Obalon Therapeutics from a market perform rating to an underperform rating in a research note on Friday, May 11th. Canaccord Genuity reaffirmed a buy rating and set a $10.00 target price (down from $11.00) on shares of Obalon Therapeutics in a research note on Tuesday, March 6th. Finally, BTIG Research reduced their target price on shares of Obalon Therapeutics to $7.00 and set a buy rating on the stock in a research note on Tuesday, March 6th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Obalon Therapeutics presently has an average rating of Hold and an average target price of $8.40.
Get Obalon Therapeutics alerts:
Obalon Therapeutics opened at $2.13 on Wednesday, Marketbeat reports. The company has a current ratio of 4.29, a quick ratio of 4.09 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $37.78 million, a PE ratio of -1.02 and a beta of -2.58. Obalon Therapeutics has a twelve month low of $2.08 and a twelve month high of $10.40.
Obalon Therapeutics (NASDAQ:OBLN) last posted its quarterly earnings results on Thursday, May 10th. The company reported ($0.71) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by ($0.17). The business had revenue of $1.35 million during the quarter, compared to analysts’ expectations of $3.55 million. Obalon Therapeutics had a negative return on equity of 102.17% and a negative net margin of 399.94%. research analysts anticipate that Obalon Therapeutics will post -2.19 earnings per share for the current year.
A hedge fund recently bought a new stake in Obalon Therapeutics stock. Goldman Sachs Group Inc. purchased a new stake in shares of Obalon Therapeutics Inc (NASDAQ:OBLN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 237,647 shares of the company’s stock, valued at approximately $1,571,000. Goldman Sachs Group Inc. owned about 1.04% of Obalon Therapeutics at the end of the most recent reporting period. Hedge funds and other institutional investors own 35.93% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.