Wall Street analysts expect that Obalon Therapeutics Inc (NASDAQ:OBLN) will report earnings per share of ($0.48) for the current quarter, Zacks reports. Two analysts have provided estimates for Obalon Therapeutics’ earnings. The lowest EPS estimate is ($0.50) and the highest is ($0.46). Obalon Therapeutics posted earnings of ($0.51) per share in the same quarter last year, which indicates a positive year over year growth rate of 5.9%. The business is expected to issue its next earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that Obalon Therapeutics will report full year earnings of ($1.96) per share for the current year, with EPS estimates ranging from ($1.98) to ($1.94). For the next year, analysts forecast that the business will report earnings of ($1.67) per share, with EPS estimates ranging from ($1.68) to ($1.65). Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Obalon Therapeutics.
Obalon Therapeutics (NASDAQ:OBLN) last issued its earnings results on Friday, November 3rd. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.12). Obalon Therapeutics had a negative return on equity of 59.77% and a negative net margin of 459.54%. The firm had revenue of $2.79 million for the quarter, compared to analysts’ expectations of $2.95 million.
OBLN has been the subject of a number of research reports. BTIG Research reiterated a “buy” rating and set a $15.00 target price on shares of Obalon Therapeutics in a report on Thursday, November 16th. UBS Group reduced their price target on Obalon Therapeutics from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, November 10th. Canaccord Genuity reissued a “buy” rating and set a $11.00 price target (down from $15.00) on shares of Obalon Therapeutics in a research report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research raised Obalon Therapeutics from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research report on Thursday, January 11th. Finally, Northland Securities raised Obalon Therapeutics from an “underperform” rating to a “market perform” rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $10.90.
Shares of Obalon Therapeutics (NASDAQ:OBLN) traded down $0.11 during trading hours on Monday, hitting $3.96. The stock had a trading volume of 108,994 shares, compared to its average volume of 559,258. 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 1-year low of $3.40 and a 1-year high of $13.18. The stock has a market cap of $92.90, a PE ratio of -1.99 and a beta of -5.81.
A number of institutional investors have recently added to or reduced their stakes in the stock. Granite Investment Partners LLC acquired a new position in Obalon Therapeutics during the 3rd quarter worth approximately $1,036,000. C WorldWide Group Holding A S lifted its position in Obalon Therapeutics by 13.7% during the 3rd quarter. C WorldWide Group Holding A S now owns 276,211 shares of the company’s stock worth $2,632,000 after acquiring an additional 33,318 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its position in Obalon Therapeutics by 89.4% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 63,171 shares of the company’s stock worth $602,000 after acquiring an additional 29,818 shares in the last quarter. California State Teachers Retirement System lifted its position in Obalon Therapeutics by 53.5% during the 2nd quarter. California State Teachers Retirement System now owns 15,200 shares of the company’s stock worth $151,000 after acquiring an additional 5,300 shares in the last quarter. Finally, State Street Corp lifted its position in Obalon Therapeutics by 66.1% during the 2nd quarter. State Street Corp now owns 71,242 shares of the company’s stock worth $705,000 after acquiring an additional 28,356 shares in the last quarter. 44.22% of the stock is currently owned by hedge funds and other institutional investors.
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About Obalon Therapeutics
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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