-$0.46 Earnings Per Share Expected for Obalon Therapeutics Inc (OBLN) This Quarter

Equities research analysts expect Obalon Therapeutics Inc (NASDAQ:OBLN) to announce earnings per share (EPS) of ($0.46) for the current quarter, Zacks reports. Three analysts have made estimates for Obalon Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.50) and the highest estimate coming in at ($0.44). Obalon Therapeutics posted earnings per share of ($0.55) during the same quarter last year, which suggests a positive year over year growth rate of 16.4%. The business is scheduled to announce its next earnings results on Friday, November 2nd.

On average, analysts expect that Obalon Therapeutics will report full-year earnings of ($2.18) per share for the current fiscal year, with EPS estimates ranging from ($2.28) to ($2.03). For the next year, analysts anticipate that the business will post earnings of ($1.77) per share, with EPS estimates ranging from ($2.03) to ($1.40). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Obalon Therapeutics.

Obalon Therapeutics (NASDAQ:OBLN) last released its earnings results on Thursday, August 2nd. The company reported ($0.57) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.06). The business had revenue of $2.73 million during the quarter, compared to analyst estimates of $3.40 million. Obalon Therapeutics had a negative net margin of 205.20% and a negative return on equity of 72.76%.

OBLN has been the subject of several analyst reports. Stifel Nicolaus dropped their target price on Obalon Therapeutics from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Friday, August 3rd. Northland Securities restated a “hold” rating and set a $2.50 price target on shares of Obalon Therapeutics in a research note on Wednesday, September 12th. Zacks Investment Research upgraded Obalon Therapeutics from a “hold” rating to a “strong-buy” rating and set a $3.25 price target for the company in a research note on Tuesday, August 28th. BTIG Research restated a “buy” rating and set a $3.50 price target on shares of Obalon Therapeutics in a research note on Wednesday, September 12th. Finally, Roth Capital assumed coverage on Obalon Therapeutics in a research note on Thursday, September 6th. They set a “buy” rating and a $6.00 price target for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $6.39.

Obalon Therapeutics stock opened at $2.56 on Thursday. The firm has a market capitalization of $59.61 million, a P/E ratio of -1.23 and a beta of -1.24. Obalon Therapeutics has a 52 week low of $1.46 and a 52 week high of $10.23. The company has a quick ratio of 2.80, a current ratio of 2.98 and a debt-to-equity ratio of 0.37.

In other news, major shareholder Parters Vii L. P. Domain purchased 1,648,359 shares of the company’s stock in a transaction on Thursday, August 23rd. The stock was bought at an average cost of $1.82 per share, for a total transaction of $3,000,013.38. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kim P. Kamdar purchased 54,945 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were purchased at an average price of $1.82 per share, with a total value of $99,999.90. The disclosure for this purchase can be found here. Corporate insiders own 17.90% of the company’s stock.

An institutional investor recently raised its position in Obalon Therapeutics stock. C WorldWide Group Holding A S grew its position in shares of Obalon Therapeutics Inc (NASDAQ:OBLN) by 27.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 315,790 shares of the company’s stock after acquiring an additional 67,746 shares during the quarter. C WorldWide Group Holding A S owned about 1.80% of Obalon Therapeutics worth $679,000 at the end of the most recent quarter. 31.19% of the stock is currently owned by hedge funds and other institutional investors.

Obalon Therapeutics Company Profile

Obalon Therapeutics, Inc, a vertically integrated medical device company, focuses on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. It 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.

See Also: What is the S&P 500 Index?

Get a free copy of the Zacks research report on Obalon Therapeutics (OBLN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Obalon Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Obalon Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply