Obalon Therapeutics Inc (NASDAQ:OBLN) shares were up 39.8% during mid-day trading on Thursday . The company traded as high as $1.92 and last traded at $1.58. Approximately 60,368,133 shares traded hands during mid-day trading, an increase of 2,458% from the average daily volume of 2,360,376 shares. The stock had previously closed at $1.13.
OBLN has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Obalon Therapeutics from a “hold” rating to a “buy” rating and set a $1.75 price objective for the company in a research report on Thursday, March 28th. Stifel Nicolaus upgraded shares of Obalon Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the company from $2.50 to $3.00 in a research report on Monday, February 25th. Roth Capital reiterated a “buy” rating on shares of Obalon Therapeutics in a research report on Tuesday, February 5th. Northland Securities reissued a “hold” rating and issued a $1.00 price objective on shares of Obalon Therapeutics in a research note on Thursday, April 11th. Finally, Canaccord Genuity cut shares of Obalon Therapeutics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $3.00 to $1.50 in a research note on Monday, April 8th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $2.04.
The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.12 and a current ratio of 1.20. The company has a market capitalization of $17.14 million, a price-to-earnings ratio of -0.81 and a beta of -1.49.
About Obalon Therapeutics (NASDAQ:OBLN)
Obalon Therapeutics, Inc, a vertically integrated medical device company, focuses on developing and commercializing medical devices to treat people who are obese and overweight. The company 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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