Obalon Therapeutics Inc (OBLN) Receives $2.04 Average PT from Analysts

Obalon Therapeutics Inc (NASDAQ:OBLN) has been given an average rating of “Buy” by the seven analysts that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $2.04.

A number of equities research analysts have recently issued reports on the stock. Roth Capital reissued a “neutral” rating and issued a $2.75 price target (down from $6.00) on shares of Obalon Therapeutics in a research note on Tuesday, February 26th. Stifel Nicolaus raised shares of Obalon Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the company from $2.50 to $3.00 in a research note on Monday, February 25th. Zacks Investment Research raised shares of Obalon Therapeutics from a “hold” rating to a “buy” rating and set a $1.75 price target on the stock in a research note on Friday, March 22nd. Canaccord Genuity downgraded shares of Obalon Therapeutics from a “buy” rating to a “hold” rating and reduced their price target for the company from $3.00 to $1.50 in a research note on Monday, April 8th. Finally, Northland Securities reissued a “hold” rating and issued a $1.00 price target on shares of Obalon Therapeutics in a research note on Thursday, April 11th.

OBLN stock traded down $0.02 during trading on Monday, reaching $0.55. 2,964 shares of the stock were exchanged, compared to its average volume of 237,002. Obalon Therapeutics has a 1 year low of $0.40 and a 1 year high of $4.41. The company has a market capitalization of $10.11 million, a PE ratio of -0.28 and a beta of -1.49.

Obalon Therapeutics (NASDAQ:OBLN) last released its quarterly earnings results on Friday, February 22nd. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.08). The company had revenue of $2.04 million during the quarter, compared to analysts’ expectations of $2.10 million. Obalon Therapeutics had a negative net margin of 196.40% and a negative return on equity of 96.97%. As a group, analysts anticipate that Obalon Therapeutics will post -1.26 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new position in shares of Obalon Therapeutics in the fourth quarter valued at approximately $29,000. BlackRock Inc. grew its holdings in shares of Obalon Therapeutics by 31.8% in the fourth quarter. BlackRock Inc. now owns 33,727 shares of the company’s stock valued at $70,000 after purchasing an additional 8,142 shares in the last quarter. Geode Capital Management LLC acquired a new position in shares of Obalon Therapeutics in the fourth quarter valued at approximately $137,000. Renaissance Technologies LLC grew its holdings in shares of Obalon Therapeutics by 43.2% in the third quarter. Renaissance Technologies LLC now owns 81,200 shares of the company’s stock valued at $219,000 after purchasing an additional 24,500 shares in the last quarter. Finally, Vanguard Group Inc grew its holdings in shares of Obalon Therapeutics by 1.6% in the third quarter. Vanguard Group Inc now owns 444,050 shares of the company’s stock valued at $1,199,000 after purchasing an additional 6,900 shares in the last quarter. Hedge funds and other institutional investors own 28.59% of the company’s stock.

Obalon Therapeutics Company Profile

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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Analyst Recommendations for Obalon Therapeutics (NASDAQ:OBLN)

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