Stifel Nicolaus lowered shares of Obalon Therapeutics (NASDAQ:OBLN) from a buy rating to a hold rating in a research note published on Friday.
A number of other research firms have also recently weighed in on OBLN. Northland Securities cut shares of Obalon Therapeutics from a market perform rating to an underperform rating in a research report on Friday. Zacks Investment Research upgraded shares of Obalon Therapeutics from a sell rating to a hold rating in a research report on Friday, April 27th. ValuEngine upgraded shares of Obalon Therapeutics from a sell rating to a hold rating in a research report on Wednesday, May 2nd. Canaccord Genuity restated a buy rating and set a $10.00 price objective (down from $11.00) on shares of Obalon Therapeutics in a research report on Tuesday, March 6th. Finally, BTIG Research reduced their target price on shares of Obalon Therapeutics to $7.00 and set a buy rating for the company in a research report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Obalon Therapeutics has a consensus rating of Hold and an average target price of $8.40.
Obalon Therapeutics traded down $1.47, reaching $2.85, during trading hours on Friday, Marketbeat.com reports. 591,949 shares of the company were exchanged, compared to its average volume of 53,435. The company has a debt-to-equity ratio of 0.23, a quick ratio of 5.03 and a current ratio of 5.17. The stock has a market capitalization of $74.93 million, a PE ratio of -1.37 and a beta of -2.37. Obalon Therapeutics has a twelve month low of $2.75 and a twelve month high of $3.26.
Obalon Therapeutics (NASDAQ:OBLN) last posted its quarterly earnings data on Monday, March 5th. The company reported ($0.60) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.12). The company had revenue of $3.69 million for the quarter, compared to analyst estimates of $3.88 million. Obalon Therapeutics had a negative return on equity of 74.80% and a negative net margin of 350.67%. research analysts forecast that Obalon Therapeutics will post -2 earnings per share for the current year.
In other Obalon Therapeutics news, CFO William J. Plovanic bought 30,000 shares of Obalon Therapeutics stock in a transaction dated Wednesday, March 14th. The stock was acquired at an average cost of $4.04 per share, for a total transaction of $121,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.40% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Deutsche Bank AG raised its position in shares of Obalon Therapeutics by 170.4% in the fourth quarter. Deutsche Bank AG now owns 21,120 shares of the company’s stock valued at $138,000 after buying an additional 13,309 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Obalon Therapeutics in the fourth quarter valued at about $1,571,000. Finally, Tamarack Advisers LP increased its position in Obalon Therapeutics by 10.3% during the fourth quarter. Tamarack Advisers LP now owns 604,036 shares of the company’s stock worth $3,993,000 after purchasing an additional 56,500 shares during the last quarter. Institutional investors and hedge funds own 42.42% of the company’s stock.
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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