Obalon Therapeutics Inc. (OBLN) Receives $9.25 Average PT from Analysts

Shares of Obalon Therapeutics Inc. (NASDAQ:OBLN) have been given a consensus recommendation of “Hold” by the seven research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $9.25.

A number of equities research analysts have issued reports on OBLN shares. Zacks Investment Research raised Obalon Therapeutics from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research report on Wednesday, February 14th. Canaccord Genuity reaffirmed a “buy” rating and set a $11.00 target price (down previously 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. Stifel Nicolaus reaffirmed a “buy” rating on shares of Obalon Therapeutics in a research report on Tuesday, March 6th. BTIG Research decreased their target price on Obalon Therapeutics to $7.00 and set a “buy” rating for the company in a research report on Tuesday, March 6th. Finally, Northland Securities reaffirmed a “hold” rating and set a $4.00 target price on shares of Obalon Therapeutics in a research report on Wednesday, February 21st.

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In related news, CFO William J. Plovanic bought 30,000 shares of the firm’s stock in a transaction on Wednesday, March 14th. The stock was purchased at an average price of $4.04 per share, with a total value of $121,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.40% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Tamarack Advisers LP boosted its position in shares of Obalon Therapeutics by 10.3% in the fourth quarter. Tamarack Advisers LP now owns 604,036 shares of the company’s stock valued at $3,993,000 after acquiring an additional 56,500 shares during the period. Northern Trust Corp boosted its position in shares of Obalon Therapeutics by 109.8% in the second quarter. Northern Trust Corp now owns 92,237 shares of the company’s stock valued at $914,000 after acquiring an additional 48,268 shares during the period. California State Teachers Retirement System boosted its position in shares of 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 during the period. State Street Corp boosted its position in shares of Obalon Therapeutics by 66.1% in the second quarter. State Street Corp now owns 71,242 shares of the company’s stock valued at $705,000 after acquiring an additional 28,356 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Obalon Therapeutics by 8.3% in the second quarter. Vanguard Group Inc. now owns 170,266 shares of the company’s stock valued at $1,687,000 after acquiring an additional 13,108 shares during the period. 42.65% of the stock is owned by institutional investors.

Shares of NASDAQ OBLN traded up $0.01 during trading hours on Friday, hitting $3.52. The stock had a trading volume of 20,521 shares, compared to its average volume of 55,682. The stock has a market cap of $61.99, a price-to-earnings ratio of -1.69 and a beta of -2.16. Obalon Therapeutics has a 52 week low of $3.17 and a 52 week high of $13.18. The company has a debt-to-equity ratio of 0.23, a quick ratio of 5.03 and a current ratio of 5.17.

Obalon Therapeutics (NASDAQ:OBLN) last announced its quarterly earnings results on Monday, March 5th. The company reported ($0.60) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.12). The firm had revenue of $3.69 million during the quarter, compared to the consensus estimate of $3.88 million. Obalon Therapeutics had a negative net margin of 350.67% and a negative return on equity of 74.80%. analysts predict that Obalon Therapeutics will post -2 EPS for the current year.

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Obalon Therapeutics Company Profile

Obalon Therapeutics, Inc, a vertically integrated medical device company, focuses on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. It offers the Obalon balloon system designed to provide weight loss in obese patients. Obalon Therapeutics, Inc was founded in 2008 and is headquartered in Carlsbad, California.

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