Wall Street brokerages forecast that Obalon Therapeutics Inc (NASDAQ:OBLN) will post earnings per share (EPS) of ($0.35) for the current quarter, according to Zacks. Three analysts have provided estimates for Obalon Therapeutics’ earnings. The lowest EPS estimate is ($0.40) and the highest is ($0.28). Obalon Therapeutics posted earnings of ($0.60) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 41.7%. The firm is expected to issue its next quarterly earnings results on Monday, March 4th.
On average, analysts expect that Obalon Therapeutics will report full-year earnings of ($1.93) per share for the current year, with EPS estimates ranging from ($2.00) to ($1.86). For the next financial year, analysts expect that the business will post earnings of ($1.37) per share, with EPS estimates ranging from ($1.69) to ($1.01). Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Obalon Therapeutics.
Obalon Therapeutics (NASDAQ:OBLN) last announced its earnings results on Friday, November 2nd. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.11. The business had revenue of $2.99 million for the quarter, compared to analysts’ expectations of $2.45 million. Obalon Therapeutics had a negative return on equity of 80.38% and a negative net margin of 178.84%.
Several analysts have issued reports on OBLN shares. Zacks Investment Research raised Obalon Therapeutics from a “hold” rating to a “strong-buy” rating and set a $3.25 target price on the stock in a research report on Tuesday, August 28th. Roth Capital started coverage on Obalon Therapeutics in a research report on Thursday, September 6th. They set a “buy” rating and a $6.00 target price on the stock. Stifel Nicolaus increased their target price on Obalon Therapeutics from $2.50 to $3.50 and gave the company a “hold” rating in a research report on Tuesday, September 11th. BTIG Research reaffirmed a “buy” rating and set a $3.50 target price on shares of Obalon Therapeutics in a research report on Wednesday, September 12th. Finally, Northland Securities reaffirmed a “hold” rating and set a $2.50 target price on shares of Obalon Therapeutics in a research report on Wednesday, September 12th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $4.63.
Several institutional investors and hedge funds have recently modified their holdings of OBLN. Interwest Venture Management Co. lifted its holdings in shares of Obalon Therapeutics by 44.8% during the 3rd quarter. Interwest Venture Management Co. now owns 3,552,239 shares of the company’s stock valued at $9,591,000 after purchasing an additional 1,098,901 shares during the last quarter. Hoylecohen LLC lifted its holdings in shares of Obalon Therapeutics by 469.0% during the 3rd quarter. Hoylecohen LLC now owns 114,650 shares of the company’s stock valued at $310,000 after purchasing an additional 94,500 shares during the last quarter. Granite Investment Partners LLC purchased a new stake in shares of Obalon Therapeutics during the 3rd quarter valued at $210,000. C WorldWide Group Holding A S lifted its holdings in shares of Obalon Therapeutics by 27.3% during the 2nd quarter. C WorldWide Group Holding A S now owns 315,790 shares of the company’s stock valued at $679,000 after purchasing an additional 67,746 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Obalon Therapeutics by 288.4% during the 2nd quarter. Renaissance Technologies LLC now owns 56,700 shares of the company’s stock valued at $122,000 after purchasing an additional 42,100 shares during the last quarter. Hedge funds and other institutional investors own 32.03% of the company’s stock.
Shares of NASDAQ OBLN opened at $1.77 on Friday. The company has a current ratio of 4.85, a quick ratio of 4.58 and a debt-to-equity ratio of 0.47. The firm has a market cap of $38.65 million, a price-to-earnings ratio of -0.85 and a beta of 0.28. Obalon Therapeutics has a 12-month low of $1.46 and a 12-month high of $8.19.
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.
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