$3.55 Million in Sales Expected for Obalon Therapeutics Inc. (OBLN) This Quarter

Wall Street brokerages expect that Obalon Therapeutics Inc. (NASDAQ:OBLN) will announce $3.55 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Obalon Therapeutics’ earnings, with estimates ranging from $3.20 million to $3.90 million. Obalon Therapeutics reported sales of $1.47 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 141.5%. The business is scheduled to issue its next earnings results on Wednesday, May 9th.

According to Zacks, analysts expect that Obalon Therapeutics will report full year sales of $3.55 million for the current fiscal year, with estimates ranging from $16.43 million to $16.90 million. For the next financial year, analysts forecast that the firm will post sales of $24.89 million per share, with estimates ranging from $21.87 million to $27.90 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Obalon Therapeutics.

Obalon Therapeutics (NASDAQ:OBLN) last released its quarterly earnings data on Monday, March 5th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.12). Obalon Therapeutics had a negative net margin of 350.67% and a negative return on equity of 74.80%. The firm had revenue of $3.69 million during the quarter, compared to analysts’ expectations of $3.88 million.



Several analysts have recently issued reports on OBLN shares. Zacks Investment Research upgraded shares of Obalon Therapeutics from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a research report on Thursday, January 11th. Canaccord Genuity reiterated a “buy” rating and issued a $11.00 target price (down previously from $15.00) on shares of Obalon Therapeutics in a research report on Monday, January 22nd. They noted that the move was a valuation call. Northland Securities reiterated a “sell” rating and issued a $4.00 target price on shares of Obalon Therapeutics in a research report on Tuesday, January 23rd. Stifel Nicolaus reiterated a “buy” rating on shares of Obalon Therapeutics in a research report on Tuesday, March 6th. Finally, BTIG Research dropped their target price on shares of Obalon Therapeutics to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, March 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Obalon Therapeutics presently has an average rating of “Hold” and an average price target of $8.40.

OBLN traded up $0.08 on Monday, reaching $3.51. The stock had a trading volume of 5,109 shares, compared to its average volume of 239,495. Obalon Therapeutics has a 12-month low of $3.17 and a 12-month high of $13.18. The company has a quick ratio of 5.03, a current ratio of 5.17 and a debt-to-equity ratio of 0.23.

In related news, CFO William J. Plovanic bought 30,000 shares of the company’s stock in a transaction dated Wednesday, March 14th. The shares were acquired at an average price of $4.04 per share, for a total transaction of $121,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tamarack Advisers LP boosted its position in Obalon Therapeutics by 10.3% during the fourth quarter. Tamarack Advisers LP now owns 604,036 shares of the company’s stock worth $3,993,000 after acquiring an additional 56,500 shares during the last quarter. California State Teachers Retirement System boosted its position in Obalon Therapeutics by 53.5% during the second quarter. California State Teachers Retirement System now owns 15,200 shares of the company’s stock worth $151,000 after acquiring an additional 5,300 shares during the last quarter. State Street Corp boosted its position in Obalon Therapeutics by 66.1% during the second quarter. State Street Corp now owns 71,242 shares of the company’s stock worth $705,000 after acquiring an additional 28,356 shares during the last quarter. Vanguard Group Inc. boosted its position in Obalon Therapeutics by 8.3% during the second quarter. Vanguard Group Inc. now owns 170,266 shares of the company’s stock worth $1,687,000 after acquiring an additional 13,108 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in Obalon Therapeutics by 170.4% during the fourth quarter. Deutsche Bank AG now owns 21,120 shares of the company’s stock worth $138,000 after acquiring an additional 13,309 shares during the last quarter. Hedge funds and other institutional investors own 42.65% of the company’s stock.

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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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