Piper Jaffray assumed coverage on shares of Apollo Endosurgery (NASDAQ:APEN) in a research note released on Friday, Marketbeat Ratings reports. The firm issued an overweight rating and a $8.00 price objective on the biotechnology company’s stock.
Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research cut Apollo Endosurgery from a hold rating to a sell rating in a research note on Tuesday, March 6th. Northland Securities reiterated a buy rating and issued a $12.00 price target on shares of Apollo Endosurgery in a research note on Thursday, February 8th. Roth Capital set a $10.00 price target on Apollo Endosurgery and gave the company a buy rating in a research note on Thursday, January 4th. Finally, ValuEngine upgraded Apollo Endosurgery from a strong sell rating to a sell rating in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company. Apollo Endosurgery presently has a consensus rating of Hold and a consensus target price of $9.15.
Shares of APEN stock opened at $5.90 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.23 and a quick ratio of 1.68. The company has a market capitalization of $101.41, a P/E ratio of -2.94 and a beta of 0.34. Apollo Endosurgery has a 1 year low of $3.55 and a 1 year high of $12.56.
Apollo Endosurgery (NASDAQ:APEN) last issued its quarterly earnings results on Thursday, March 1st. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.08). The company had revenue of $16.14 million during the quarter, compared to the consensus estimate of $16.64 million. Apollo Endosurgery had a negative net margin of 42.35% and a negative return on equity of 64.48%. analysts predict that Apollo Endosurgery will post -1.44 earnings per share for the current year.
In other news, Director Matthew S. Crawford acquired 4,038 shares of the stock in a transaction on Friday, March 9th. The stock was acquired at an average cost of $6.20 per share, for a total transaction of $25,035.60. Following the completion of the transaction, the director now directly owns 53,715 shares in the company, valued at $333,033. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 74.20% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in Apollo Endosurgery during the fourth quarter valued at approximately $126,000. JPMorgan Chase & Co. acquired a new position in Apollo Endosurgery during the third quarter valued at approximately $119,000. Ardsley Advisory Partners raised its position in Apollo Endosurgery by 53.2% during the fourth quarter. Ardsley Advisory Partners now owns 28,800 shares of the biotechnology company’s stock valued at $161,000 after purchasing an additional 10,000 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Apollo Endosurgery during the third quarter valued at approximately $1,288,000. Finally, Stonepine Capital Management LLC raised its position in Apollo Endosurgery by 8.3% during the fourth quarter. Stonepine Capital Management LLC now owns 2,560,314 shares of the biotechnology company’s stock valued at $14,338,000 after purchasing an additional 195,607 shares in the last quarter. Institutional investors and hedge funds own 31.27% of the company’s stock.
WARNING: “Piper Jaffray Initiates Coverage on Apollo Endosurgery (APEN)” was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this article on another domain, it was illegally copied and republished in violation of international trademark & copyright law. The legal version of this article can be accessed at https://www.dispatchtribunal.com/2018/04/16/piper-jaffray-initiates-coverage-on-apollo-endosurgery-apen.html.
About Apollo Endosurgery
Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices for the treatment of obesity. The company offers endo-bariatric products, such as Orbera intragastric balloon system and Orbera365 Managed Weight Loss System, which are non-surgical alternatives for the treatment of overweight and obese adults; and OverStitch endoscopic suturing system that enables endoscopic procedures by allowing physicians to place full-thickness sutures and secure the approximation of tissue through flexible endoscope.
Receive News & Ratings for Apollo Endosurgery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Endosurgery and related companies with MarketBeat.com's FREE daily email newsletter.