Obalon Therapeutics (OBLN) Issues Earnings Results, Beats Expectations By $0.11 EPS

Obalon Therapeutics (NASDAQ:OBLN) released its earnings results on Friday. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.11, MarketWatch Earnings reports. Obalon Therapeutics had a negative return on equity of 72.76% and a negative net margin of 205.20%. The business had revenue of $2.99 million for the quarter, compared to the consensus estimate of $2.45 million.

OBLN traded down $0.19 during midday trading on Friday, reaching $1.96. 164,709 shares of the company’s stock were exchanged, compared to its average volume of 42,730. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.80 and a current ratio of 2.98. Obalon Therapeutics has a one year low of $1.46 and a one year high of $9.48.

A number of brokerages have commented on OBLN. Zacks Investment Research cut shares of Obalon Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. Northland Securities upgraded shares of Obalon Therapeutics from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 2nd. Stifel Nicolaus cut their price target on shares of Obalon Therapeutics from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Friday, August 3rd. BTIG Research restated a “buy” rating on shares of Obalon Therapeutics in a research note on Sunday, August 5th. Finally, Roth Capital began coverage on shares of 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Obalon Therapeutics has a consensus rating of “Buy” and an average price target of $6.25.

In other Obalon Therapeutics news, major shareholder Parters Vii L. P. Domain purchased 1,648,359 shares of the business’s stock in a transaction on Thursday, August 23rd. The stock was purchased at an average price of $1.82 per share, for a total transaction of $3,000,013.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kim P. Kamdar purchased 54,945 shares of the business’s stock in a transaction on Thursday, August 23rd. The shares were acquired 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. 17.90% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the company. Interwest Venture Management Co. raised its stake in shares of Obalon Therapeutics by 44.8% in the third quarter. Interwest Venture Management Co. now owns 3,552,239 shares of the company’s stock valued at $9,591,000 after acquiring an additional 1,098,901 shares during the last quarter. C WorldWide Group Holding A S raised its stake in shares of Obalon Therapeutics by 27.3% in the second quarter. C WorldWide Group Holding A S now owns 315,790 shares of the company’s stock valued at $679,000 after acquiring an additional 67,746 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Obalon Therapeutics by 288.4% in the second quarter. Renaissance Technologies LLC now owns 56,700 shares of the company’s stock valued at $122,000 after acquiring an additional 42,100 shares during the last quarter. Institutional investors own 28.57% 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 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.

Further Reading: What does EPS mean?

Earnings History for Obalon Therapeutics (NASDAQ:OBLN)

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