$3.88 Million in Sales Expected for Obalon Therapeutics Inc (OBLN) This Quarter

Equities analysts predict that Obalon Therapeutics Inc (NASDAQ:OBLN) will report sales of $3.88 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Obalon Therapeutics’ earnings. The lowest sales estimate is $3.86 million and the highest is $3.90 million. Obalon Therapeutics reported sales of $770,000.00 in the same quarter last year, which would suggest a positive year-over-year growth rate of 403.9%. The company is expected to announce its next quarterly earnings report on Thursday, February 22nd.

On average, analysts expect that Obalon Therapeutics will report full-year sales of $3.88 million for the current year, with estimates ranging from $10.08 million to $10.10 million. For the next financial year, analysts forecast that the firm will post sales of $21.25 million per share, with estimates ranging from $18.19 million to $24.30 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Obalon Therapeutics.

Obalon Therapeutics (NASDAQ:OBLN) last announced 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). The firm had revenue of $2.79 million during the quarter, compared to the consensus estimate of $2.95 million. Obalon Therapeutics had a negative net margin of 459.54% and a negative return on equity of 59.77%.

A number of research analysts have commented on OBLN shares. Northland Securities reiterated a “sell” rating and issued a $4.00 price objective on shares of Obalon Therapeutics in a research report on Friday, November 3rd. BTIG Research reissued a “buy” rating and issued a $15.00 price target on shares of Obalon Therapeutics in a research note on Thursday, November 16th. Zacks Investment Research downgraded Obalon Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Finally, UBS Group cut their price target on Obalon Therapeutics from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $12.10.

Obalon Therapeutics (OBLN) opened at $7.90 on Friday. The company has a market capitalization of $137.79 and a price-to-earnings ratio of -4.09. The company has a debt-to-equity ratio of 0.21, a current ratio of 8.78 and a quick ratio of 8.65. Obalon Therapeutics has a 12-month low of $6.53 and a 12-month high of $13.18.

Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System lifted its stake in shares of Obalon Therapeutics 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 during the period. Schwab Charles Investment Management Inc. acquired a new position in shares of Obalon Therapeutics in the 2nd quarter valued at $175,000. Teachers Advisors LLC lifted its stake in shares of Obalon Therapeutics 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 during the period. Bank of New York Mellon Corp lifted its stake in shares of Obalon Therapeutics by 33.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,135 shares of the company’s stock valued at $210,000 after purchasing an additional 5,353 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of Obalon Therapeutics by 511.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 23,577 shares of the company’s stock valued at $234,000 after purchasing an additional 19,723 shares during the period. 44.05% of the stock is currently owned by institutional investors.

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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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