Analysts expect Obalon Therapeutics Inc (NASDAQ:OBLN) to announce $3.40 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Obalon Therapeutics’ earnings, with the highest sales estimate coming in at $3.80 million and the lowest estimate coming in at $3.00 million. Obalon Therapeutics posted sales of $1.96 million during the same quarter last year, which would indicate a positive year over year growth rate of 73.5%. The business is expected to report its next quarterly earnings results on Wednesday, August 1st.
According to Zacks, analysts expect that Obalon Therapeutics will report full year sales of $14.04 million for the current fiscal year, with estimates ranging from $13.40 million to $14.68 million. For the next year, analysts forecast that the company will post sales of $21.44 million per share, with estimates ranging from $21.00 million to $21.87 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Obalon Therapeutics.
Obalon Therapeutics (NASDAQ:OBLN) last posted its earnings results on Thursday, May 10th. The company reported ($0.71) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by ($0.17). Obalon Therapeutics had a negative return on equity of 102.17% and a negative net margin of 399.94%. The firm had revenue of $1.35 million during the quarter, compared to the consensus estimate of $3.55 million.
OBLN has been the topic of several analyst reports. Stifel Nicolaus reaffirmed a “buy” rating on shares of Obalon Therapeutics in a report on Tuesday, March 6th. BTIG Research lowered their target price on shares of Obalon Therapeutics to $7.00 and set a “buy” rating on the stock in a report on Tuesday, March 6th. Canaccord Genuity reaffirmed a “buy” rating and issued a $10.00 target price (down previously from $11.00) on shares of Obalon Therapeutics in a report on Tuesday, March 6th. ValuEngine raised shares of Obalon Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Zacks Investment Research raised shares of Obalon Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, April 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Obalon Therapeutics has an average rating of “Hold” and a consensus price target of $8.40.
OBLN opened at $2.46 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.09 and a current ratio of 4.29. Obalon Therapeutics has a twelve month low of $2.09 and a twelve month high of $11.76. The stock has a market capitalization of $41.47 million, a PE ratio of -1.18 and a beta of -2.67.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Deutsche Bank AG lifted its position in Obalon Therapeutics by 170.4% during the 4th quarter. Deutsche Bank AG now owns 21,120 shares of the company’s stock worth $138,000 after buying an additional 13,309 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in Obalon Therapeutics during the 4th quarter worth about $1,571,000. Finally, Tamarack Advisers LP lifted its position in Obalon Therapeutics by 10.3% during the 4th quarter. Tamarack Advisers LP now owns 604,036 shares of the company’s stock worth $3,993,000 after buying an additional 56,500 shares in the last quarter. Institutional investors and hedge funds own 35.93% of the company’s stock.
About Obalon Therapeutics
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.
Get a free copy of the Zacks research report on Obalon Therapeutics (OBLN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Obalon Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Obalon Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.