Obalon Therapeutics Inc (OBLN) Given Average Recommendation of “Buy” by Analysts

Shares of Obalon Therapeutics Inc (NASDAQ:OBLN) have earned an average rating of “Buy” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $6.25.

A number of research analysts have recently commented on OBLN shares. Stifel Nicolaus upped their price objective on shares of Obalon Therapeutics from $2.50 to $3.50 and gave the company a “hold” rating in a research report on Tuesday, September 11th. BTIG Research reaffirmed a “buy” rating and set a $3.50 price objective on shares of Obalon Therapeutics in a research report on Wednesday, September 12th. Roth Capital started coverage on shares of Obalon Therapeutics in a research report on Thursday, September 6th. They set a “buy” rating and a $6.00 price objective for the company. ValuEngine raised shares of Obalon Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, July 4th. Finally, Zacks Investment Research raised shares of Obalon Therapeutics from a “hold” rating to a “strong-buy” rating and set a $3.25 price objective for the company in a research report on Tuesday, August 28th.

Shares of OBLN opened at $2.09 on Thursday. The stock has a market cap of $62.87 million, a PE ratio of -1.00 and a beta of -1.20. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.98 and a quick ratio of 2.80. Obalon Therapeutics has a 52 week low of $1.46 and a 52 week high of $9.91.

Obalon Therapeutics (NASDAQ:OBLN) last announced its quarterly earnings data on Thursday, August 2nd. The company reported ($0.57) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.06). The company had revenue of $2.73 million for 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%. Equities analysts predict that Obalon Therapeutics will post -2.18 EPS for the current year.

In other Obalon Therapeutics news, major shareholder Parters Vii L. P. Domain purchased 1,648,359 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The stock was purchased at an average price of $1.82 per share, with a total value of $3,000,013.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kim P. Kamdar purchased 54,945 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The stock was acquired at an average cost 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.

A number of large investors have recently bought and sold shares of OBLN. Renaissance Technologies LLC increased its holdings in shares of Obalon Therapeutics by 288.4% during the second quarter. Renaissance Technologies LLC now owns 56,700 shares of the company’s stock worth $122,000 after buying an additional 42,100 shares in the last quarter. C WorldWide Group Holding A S increased its holdings in shares of Obalon Therapeutics by 27.3% during the second quarter. C WorldWide Group Holding A S now owns 315,790 shares of the company’s stock worth $679,000 after buying an additional 67,746 shares in the last quarter. Finally, Interwest Venture Management Co. increased its holdings in shares of Obalon Therapeutics by 44.8% during the third quarter. Interwest Venture Management Co. now owns 3,552,239 shares of the company’s stock worth $9,591,000 after buying an additional 1,098,901 shares in the last quarter. 23.85% of the stock is 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.

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Analyst Recommendations for Obalon Therapeutics (NASDAQ:OBLN)

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