Northland Securities restated their hold rating on shares of Obalon Therapeutics (NASDAQ:OBLN) in a research report report published on Wednesday morning. Northland Securities currently has a $4.00 target price on the stock.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Obalon Therapeutics from a hold rating to a buy rating and set a $5.00 target price on the stock in a report on Wednesday, February 14th. BTIG Research reiterated a buy rating and issued a $15.00 price target on shares of Obalon Therapeutics in a report on Thursday, November 16th. Canaccord Genuity reiterated a buy rating and issued a $11.00 price target (down previously from $15.00) on shares of Obalon Therapeutics in a report on Monday, January 22nd. They noted that the move was a valuation call. Finally, UBS Group cut their price target on shares of Obalon Therapeutics from $20.00 to $16.00 and set a buy rating on the stock in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Obalon Therapeutics has an average rating of Buy and an average price target of $10.20.
Obalon Therapeutics (OBLN) opened at $4.17 on Wednesday. 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 Therapeutics has a fifty-two week low of $3.40 and a fifty-two week high of $13.18. The stock has a market cap of $95.88 and a P/E ratio of -2.16.
A number of large investors have recently added to or reduced their stakes in OBLN. Deutsche Bank AG boosted its holdings in Obalon Therapeutics by 170.4% in the fourth quarter. Deutsche Bank AG now owns 21,120 shares of the company’s stock valued at $138,000 after acquiring an additional 13,309 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Obalon Therapeutics 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 in the last quarter. Teachers Advisors LLC boosted its holdings in Obalon Therapeutics by 235.7% in the second quarter. Teachers Advisors LLC now owns 17,621 shares of the company’s stock valued at $175,000 after acquiring an additional 12,372 shares in the last quarter. Schwab Charles Investment Management Inc. bought a new stake in Obalon Therapeutics in the second quarter valued at $175,000. Finally, Bank of New York Mellon Corp boosted its holdings in Obalon Therapeutics by 33.9% in the second quarter. Bank of New York Mellon Corp now owns 21,135 shares of the company’s stock valued at $210,000 after acquiring an additional 5,353 shares in the last quarter. Institutional investors and hedge funds own 44.22% of the company’s stock.
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Obalon Therapeutics 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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