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.
TRADEMARK VIOLATION WARNING: “$3.88 Million in Sales Expected for Obalon Therapeutics Inc (OBLN) This Quarter” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The original version of this piece can be accessed at https://www.dispatchtribunal.com/2018/01/14/3-88-million-in-sales-expected-for-obalon-therapeutics-inc-obln-this-quarter.html.
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.
Get a free copy of the Zacks research report on Obalon Therapeutics (OBLN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Obalon Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Obalon Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.