Obalon Therptcs (NASDAQ:OBLN) released 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), Bloomberg Earnings reports. The firm had revenue of $2.79 million during the quarter, compared to the consensus estimate of $2.95 million. Obalon Therptcs had a negative net margin of 459.54% and a negative return on equity of 59.77%.
Obalon Therptcs (NASDAQ:OBLN) opened at $7.97 on Tuesday. The company has a quick ratio of 8.65, a current ratio of 8.78 and a debt-to-equity ratio of 0.21. Obalon Therptcs has a fifty-two week low of $7.77 and a fifty-two week high of $13.18.
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Several equities analysts have recently weighed in on OBLN shares. Northland Securities restated a “sell” rating and issued a $4.00 price objective on shares of Obalon Therptcs in a report on Friday, November 3rd. UBS AG reiterated a “buy” rating and issued a $20.00 target price (down from $22.00) on shares of Obalon Therptcs in a research note on Wednesday, August 9th. Zacks Investment Research downgraded shares of Obalon Therptcs from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Finally, BTIG Research cut their price objective on shares of Obalon Therptcs from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, November 6th. Three analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. Obalon Therptcs currently has an average rating of “Hold” and a consensus price target of $13.00.
Several large investors have recently bought and sold shares of OBLN. Vanguard Group Inc. grew its position in Obalon Therptcs by 8.3% in the 2nd quarter. Vanguard Group Inc. now owns 170,266 shares of the company’s stock worth $1,687,000 after purchasing an additional 13,108 shares in the last quarter. State Street Corp boosted its stake in Obalon Therptcs by 66.1% in the second quarter. State Street Corp now owns 71,242 shares of the company’s stock valued at $705,000 after acquiring an additional 28,356 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in Obalon Therptcs by 53.5% in the second quarter. California State Teachers Retirement System now owns 15,200 shares of the company’s stock valued at $151,000 after acquiring an additional 5,300 shares during the last quarter. 43.65% of the stock is owned by institutional investors.
Obalon Therptcs 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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