ValuEngine upgraded shares of Apollo Endosurgery (NASDAQ:APEN) from a hold rating to a buy rating in a research note released on Thursday morning, ValuEngine reports.
Separately, Zacks Investment Research lowered shares of Apollo Endosurgery from a hold rating to a sell rating in a report on Friday, July 26th.
APEN traded down $0.05 during trading hours on Thursday, reaching $2.75. 1,576 shares of the stock traded hands, compared to its average volume of 14,249. The business’s fifty day moving average price is $3.26. Apollo Endosurgery has a fifty-two week low of $2.62 and a fifty-two week high of $8.65. The company has a current ratio of 2.24, a quick ratio of 1.74 and a debt-to-equity ratio of 1.88.
Apollo Endosurgery (NASDAQ:APEN) last announced its quarterly earnings data on Tuesday, July 23rd. The biotechnology company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.05). The company had revenue of $14.25 million for the quarter, compared to analyst estimates of $13.54 million. Apollo Endosurgery had a negative return on equity of 126.08% and a negative net margin of 69.89%. On average, analysts forecast that Apollo Endosurgery will post -1.63 earnings per share for the current fiscal year.
In related news, CEO Todd Newton acquired 25,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was bought at an average cost of $3.53 per share, with a total value of $88,250.00. Following the acquisition, the chief executive officer now directly owns 317,668 shares in the company, valued at $1,121,368.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 37.20% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC bought a new position in shares of Apollo Endosurgery in the 4th quarter worth about $41,000. Dimensional Fund Advisors LP lifted its position in shares of Apollo Endosurgery by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 123,117 shares of the biotechnology company’s stock worth $425,000 after buying an additional 6,551 shares during the last quarter. NJ State Employees Deferred Compensation Plan lifted its position in shares of Apollo Endosurgery by 8.3% in the 1st quarter. NJ State Employees Deferred Compensation Plan now owns 130,000 shares of the biotechnology company’s stock worth $486,000 after buying an additional 10,000 shares during the last quarter. Finally, Gagnon Securities LLC lifted its position in shares of Apollo Endosurgery by 1.4% in the 1st quarter. Gagnon Securities LLC now owns 863,160 shares of the biotechnology company’s stock worth $3,228,000 after buying an additional 11,534 shares during the last quarter. 41.47% of the stock is owned by institutional investors.
Apollo Endosurgery Company Profile
Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices. Its products include OverStitch and OverStitch Sx Endoscopic Suturing System that enables advanced endoscopic procedures by allowing physicians to place full thickness sutures and secure the approximation of tissue through a flexible endoscope; Orbera365 Managed Weight Loss System; and the BIB for the treatment of overweight and obese adults.
Further Reading: Percentage Decliners
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