$16.00 Million in Sales Expected for Apollo Endosurgery (APEN) This Quarter

Brokerages predict that Apollo Endosurgery (NASDAQ:APEN) will report sales of $16.00 million for the current quarter, Zacks reports. Three analysts have made estimates for Apollo Endosurgery’s earnings. The highest sales estimate is $16.69 million and the lowest is $15.47 million. Apollo Endosurgery reported sales of $14.62 million during the same quarter last year, which would suggest a positive year over year growth rate of 9.4%. The company is scheduled to announce its next earnings results on Thursday, May 3rd.

On average, analysts expect that Apollo Endosurgery will report full-year sales of $16.00 million for the current fiscal year, with estimates ranging from $67.20 million to $70.23 million. For the next financial year, analysts forecast that the firm will report sales of $77.09 million per share, with estimates ranging from $71.73 million to $80.83 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Apollo Endosurgery.

Apollo Endosurgery (NASDAQ:APEN) last posted its earnings results on Thursday, March 1st. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.08). Apollo Endosurgery had a negative net margin of 42.35% and a negative return on equity of 64.48%. The company had revenue of $16.14 million during the quarter, compared to analyst estimates of $16.64 million.



A number of equities research analysts have recently issued reports on APEN shares. Roth Capital set a $10.00 target price on Apollo Endosurgery and gave the company a “buy” rating in a research note on Thursday, January 4th. ValuEngine raised Apollo Endosurgery from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 3rd. Zacks Investment Research downgraded Apollo Endosurgery from a “hold” rating to a “sell” rating in a report on Tuesday, March 6th. Northland Securities reaffirmed a “buy” rating and set a $12.00 target price on shares of Apollo Endosurgery in a report on Thursday, February 8th. Finally, Piper Jaffray started coverage on Apollo Endosurgery in a report on Friday. They set an “overweight” rating and a $8.00 target price on the stock. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $9.15.

APEN stock opened at $5.85 on Tuesday. The company has a quick ratio of 1.68, a current ratio of 2.23 and a debt-to-equity ratio of 0.67. Apollo Endosurgery has a 1 year low of $3.55 and a 1 year high of $12.56. The stock has a market capitalization of $102.97, a PE ratio of -2.91 and a beta of 0.34.

In other news, Director Matthew S. Crawford bought 4,038 shares of Apollo Endosurgery stock in a transaction on Friday, March 9th. The shares were bought at an average price of $6.20 per share, with a total value of $25,035.60. Following the acquisition, the director now directly owns 53,715 shares in the company, valued at approximately $333,033. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 74.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in shares of Apollo Endosurgery during the 3rd quarter worth $1,288,000. Stonepine Capital Management LLC boosted its stake in shares of Apollo Endosurgery by 8.3% during the 4th quarter. Stonepine Capital Management LLC now owns 2,560,314 shares of the biotechnology company’s stock worth $14,338,000 after acquiring an additional 195,607 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Apollo Endosurgery in the third quarter worth $119,000. Renaissance Technologies LLC acquired a new stake in shares of Apollo Endosurgery in the fourth quarter worth $126,000. Finally, Ardsley Advisory Partners boosted its position in shares of Apollo Endosurgery by 53.2% in the fourth quarter. Ardsley Advisory Partners now owns 28,800 shares of the biotechnology company’s stock worth $161,000 after buying an additional 10,000 shares during the period. 31.27% of the stock is currently owned by institutional investors and hedge funds.

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Apollo Endosurgery Company Profile

Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices for the treatment of obesity. The company offers endo-bariatric products, such as Orbera intragastric balloon system and Orbera365 Managed Weight Loss System, which are non-surgical alternatives for the treatment of overweight and obese adults; and OverStitch endoscopic suturing system that enables endoscopic procedures by allowing physicians to place full-thickness sutures and secure the approximation of tissue through flexible endoscope.

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