Brokerages predict that Apollo Endosurgery, Inc. (NASDAQ:APEN) will announce earnings of ($0.33) per share for the current quarter, Zacks reports. Two analysts have issued estimates for Apollo Endosurgery’s earnings. The lowest EPS estimate is ($0.37) and the highest is ($0.29). Apollo Endosurgery posted earnings per share of ($35.01) in the same quarter last year, which would indicate a positive year-over-year growth rate of 99.1%. The company is scheduled to report its next quarterly earnings results on Wednesday, March 14th.
On average, analysts expect that Apollo Endosurgery will report full-year earnings of ($1.98) per share for the current year, with EPS estimates ranging from ($2.10) to ($1.85). For the next fiscal year, analysts forecast that the business will report earnings of ($1.18) per share, with EPS estimates ranging from ($1.35) to ($1.01). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Apollo Endosurgery.
A number of analysts recently commented on the company. Northland Securities reaffirmed a “buy” rating and issued a $12.00 price target on shares of Apollo Endosurgery in a research note on Tuesday, November 28th. Zacks Investment Research raised Apollo Endosurgery from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a research report 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 stock. The company presently has an average rating of “Buy” and an average price target of $9.44.
In other news, VP Bret Schwartzhoff acquired 9,500 shares of the stock in a transaction on Tuesday, November 7th. The stock was acquired at an average price of $4.24 per share, with a total value of $40,280.00. Following the completion of the transaction, the vice president now owns 15,631 shares of the company’s stock, valued at approximately $66,275.44. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 74.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. purchased a new position in Apollo Endosurgery during the third quarter valued at $119,000. Woodmont Investment Counsel LLC bought a new position in shares of Apollo Endosurgery during the third quarter valued at $220,000. Russell Investments Group Ltd. bought a new position in shares of Apollo Endosurgery during the third quarter valued at $1,288,000. King Luther Capital Management Corp bought a new position in shares of Apollo Endosurgery during the third quarter valued at $2,567,000. Finally, Stonepine Capital Management LLC bought a new position in shares of Apollo Endosurgery during the third quarter valued at $11,067,000. 23.67% of the stock is owned by institutional investors and hedge funds.
Shares of Apollo Endosurgery (APEN) traded up $0.13 during mid-day trading on Friday, reaching $4.50. Apollo Endosurgery has a fifty-two week low of $3.55 and a fifty-two week high of $21.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.54 and a quick ratio of 2.00.
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About Apollo Endosurgery
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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