Obalon Therapeutics (NASDAQ:OBLN) Announces Quarterly Earnings Results

Obalon Therapeutics (NASDAQ:OBLN) announced its earnings results on Friday. The company reported ($0.61) earnings per share for the quarter, beating the consensus estimate of ($3.50) by $2.89, MarketWatch Earnings reports. The business had revenue of $0.33 million during the quarter, compared to the consensus estimate of $2.20 million. Obalon Therapeutics had a negative net margin of 425.36% and a negative return on equity of 253.79%.

Shares of OBLN stock traded down $0.11 on Friday, hitting $1.68. The stock had a trading volume of 897,600 shares, compared to its average volume of 415,796. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.48 and a current ratio of 1.69. Obalon Therapeutics has a 52-week low of $1.53 and a 52-week high of $34.00. The stock’s 50 day moving average is $1.83 and its 200-day moving average is $1.59. The firm has a market capitalization of $10.70 million, a price-to-earnings ratio of -0.09 and a beta of -4.87.

Several research analysts have recently weighed in on OBLN shares. Northland Securities restated a “hold” rating on shares of Obalon Therapeutics in a research note on Wednesday, July 24th. ValuEngine upgraded shares of Obalon Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Finally, Zacks Investment Research downgraded shares of Obalon Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Obalon Therapeutics presently has an average rating of “Hold” and a consensus price target of $16.90.

About Obalon Therapeutics

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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Earnings History for Obalon Therapeutics (NASDAQ:OBLN)

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