Shares of Obalon Therptcs (NASDAQ:OBLN) have been given an average rating of “Hold” by the seven analysts that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $16.00.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Obalon Therptcs from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. UBS AG reissued a “buy” rating and issued a $20.00 price target (down previously from $22.00) on shares of Obalon Therptcs in a report on Wednesday, August 9th. Finally, Northland Securities reissued a “sell” rating and issued a $6.00 price target on shares of Obalon Therptcs in a report on Wednesday, August 2nd.
Shares of Obalon Therptcs (NASDAQ OBLN) opened at 10.06 on Friday. Obalon Therptcs has a 12 month low of $8.27 and a 12 month high of $15.30. The firm’s market cap is $169.25 million. The firm has a 50-day moving average of $9.87 and a 200-day moving average of $9.87.
Obalon Therptcs (NASDAQ:OBLN) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.46) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.03). The company had revenue of $1.96 million during the quarter, compared to the consensus estimate of $1.77 million. Obalon Therptcs had a negative return on equity of 108.07% and a negative net margin of 566.87%. On average, analysts anticipate that Obalon Therptcs will post ($1.86) EPS for the current year.
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Several institutional investors have recently made changes to their positions in OBLN. UBS Group AG boosted its stake in shares of Obalon Therptcs by 90.8% in the 1st quarter. UBS Group AG now owns 11,856 shares of the company’s stock valued at $127,000 after purchasing an additional 5,641 shares in the last quarter. Blair William & Co. IL purchased a new stake in shares of Obalon Therptcs in the 2nd quarter valued at $134,000. California State Teachers Retirement System boosted its stake in shares of Obalon Therptcs by 53.5% in the 2nd quarter. California State Teachers Retirement System now owns 15,200 shares of the company’s stock valued at $151,000 after purchasing an additional 5,300 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Obalon Therptcs in the 1st quarter valued at $168,000. Finally, Teachers Advisors LLC boosted its stake in shares of Obalon Therptcs by 235.7% in the 2nd quarter. Teachers Advisors LLC now owns 17,621 shares of the company’s stock valued at $175,000 after purchasing an additional 12,372 shares in the last quarter. 44.97% 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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