Northland Securities restated their hold rating on shares of Obalon Therapeutics (NASDAQ:OBLN) in a research report released on Wednesday. The firm currently has a $4.00 price target on the stock.
Other equities research analysts have also recently issued 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 price objective for the company in a research report on Wednesday, February 14th. BTIG Research reiterated a buy rating and set a $15.00 price objective on shares of Obalon Therapeutics in a research report on Thursday, November 16th. Canaccord Genuity reiterated a buy rating and set a $11.00 price objective (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. Finally, UBS Group decreased their price objective on shares of Obalon Therapeutics from $20.00 to $16.00 and set a buy rating for the company in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $10.20.
Shares of Obalon Therapeutics (NASDAQ OBLN) opened at $4.20 on Wednesday. Obalon Therapeutics has a 12-month low of $3.40 and a 12-month high of $13.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 8.65 and a current ratio of 8.78. The firm has a market cap of $95.87 and a price-to-earnings ratio of -2.18.
Large investors have recently bought and sold shares of the business. Granite Investment Partners LLC acquired a new stake in Obalon Therapeutics in the third quarter worth $1,036,000. Northern Trust Corp grew its holdings in Obalon Therapeutics by 109.8% in the second quarter. Northern Trust Corp now owns 92,237 shares of the company’s stock worth $914,000 after purchasing an additional 48,268 shares during the period. Emerald Mutual Fund Advisers Trust grew its holdings in Obalon Therapeutics by 89.4% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 63,171 shares of the company’s stock worth $602,000 after purchasing an additional 29,818 shares during the period. C WorldWide Group Holding A S grew its holdings in Obalon Therapeutics by 13.7% in the third quarter. C WorldWide Group Holding A S now owns 276,211 shares of the company’s stock worth $2,632,000 after purchasing an additional 33,318 shares during the period. Finally, Bank of New York Mellon Corp grew 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 worth $210,000 after purchasing an additional 5,353 shares during the period. Institutional investors and hedge funds own 44.22% of the company’s stock.
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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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