Analysts Set Apollo Endosurgery, Inc. (NASDAQ:APEN) PT at $13.17

Shares of Apollo Endosurgery, Inc. (NASDAQ:APEN) have earned a consensus recommendation of “Buy” from the six research firms that are presently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $13.17.

Several research firms recently weighed in on APEN. Zacks Investment Research upgraded Apollo Endosurgery from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Thursday, November 4th. Stifel Nicolaus began coverage on Apollo Endosurgery in a report on Thursday, December 9th. They issued a “buy” rating and a $12.00 price objective for the company. Finally, Cowen began coverage on Apollo Endosurgery in a report on Wednesday, December 15th. They issued an “outperform” rating and a $13.00 price objective for the company.

Shares of APEN traded down $0.34 during trading hours on Friday, reaching $5.91. 13,891 shares of the company traded hands, compared to its average volume of 289,836. The firm has a market cap of $169.62 million, a price-to-earnings ratio of -9.62 and a beta of 2.20. Apollo Endosurgery has a 12-month low of $3.51 and a 12-month high of $10.39. The company has a current ratio of 3.62, a quick ratio of 2.86 and a debt-to-equity ratio of 20.24. The stock’s fifty day moving average price is $8.31 and its 200 day moving average price is $8.55.

Apollo Endosurgery (NASDAQ:APEN) last issued its earnings results on Sunday, October 31st. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.05. The firm had revenue of $16.35 million during the quarter, compared to analyst estimates of $16.20 million. Apollo Endosurgery had a negative net margin of 29.80% and a negative return on equity of 589.59%. During the same period in the previous year, the firm earned ($0.11) earnings per share. On average, research analysts forecast that Apollo Endosurgery will post -0.64 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in Apollo Endosurgery by 3.4% in the third quarter. Geode Capital Management LLC now owns 123,823 shares of the biotechnology company’s stock worth $1,121,000 after purchasing an additional 4,086 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Apollo Endosurgery by 0.7% in the third quarter. Goldman Sachs Group Inc. now owns 641,971 shares of the biotechnology company’s stock worth $5,816,000 after purchasing an additional 4,716 shares in the last quarter. Barclays PLC raised its holdings in Apollo Endosurgery by 384.1% in the third quarter. Barclays PLC now owns 6,772 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 5,373 shares in the last quarter. Marshall Wace North America L.P. raised its holdings in Apollo Endosurgery by 43.7% in the second quarter. Marshall Wace North America L.P. now owns 19,462 shares of the biotechnology company’s stock worth $158,000 after purchasing an additional 5,914 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Apollo Endosurgery by 3.5% in the third quarter. Assenagon Asset Management S.A. now owns 235,946 shares of the biotechnology company’s stock worth $2,138,000 after purchasing an additional 7,971 shares in the last quarter. Institutional investors and hedge funds own 78.45% of the company’s stock.

Apollo Endosurgery Company Profile

Apollo Endosurgery, Inc is a medical technology company, which focuses on the design, development, and commercialization of medical devices to advance gastrointestinal therapeutic endoscopy. It offers Endoscopy, Surgical and Other products. The firm’s endoscopy product portfolio consists of the OverStitch Endoscopic Suturing System, OverStitch Sx Endoscopic Suturing System, and Orbera Intragastric Balloon System.

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Analyst Recommendations for Apollo Endosurgery (NASDAQ:APEN)

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