Apollo Endosurgery (NASDAQ:APEN) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Apollo Endosurgery (NASDAQ:APEN) from a sell rating to a hold rating in a research note released on Friday, Zacks.com reports.

According to Zacks, “Apollo Endosurgery, Inc. is engaged in designing and manufacturing of medical devices for weight loss solutions and gastrointestinal disorders. The Company’s product segment includes ORBERA (R), LAP-BAND (R) and OverStitch(TM). The ORBERA is an Intragastric Balloon System which is a weight loss aid for adults suffering from obesity. The LAP-BAND System is developed for weight reduction for patients with obesity. The OverStitch Endoscopic Suturing System enables endoscopic surgery. It operates primarily in Asia Pacific, European Office, Latin and South America and Costa Rica. Apollo Endosurgery, Inc., formerly known as Lpath, Inc., is headquatered in Austin, Texas. “

Separately, ValuEngine raised shares of Apollo Endosurgery from a hold rating to a buy rating in a research note on Thursday, August 1st.



APEN stock opened at $3.10 on Friday. Apollo Endosurgery has a 1 year low of $2.52 and a 1 year high of $7.94. The company has a market cap of $72.37 million, a P/E ratio of -1.61 and a beta of 0.75. The firm has a 50-day moving average of $3.04 and a 200 day moving average of $3.41. The company has a debt-to-equity ratio of 1.88, a current ratio of 2.24 and a quick ratio of 1.74.

Apollo Endosurgery (NASDAQ:APEN) last released its quarterly earnings results on Tuesday, July 23rd. The biotechnology company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.05). Apollo Endosurgery had a negative return on equity of 126.08% and a negative net margin of 69.89%. The company had revenue of $14.25 million during the quarter, compared to the consensus estimate of $13.54 million. On average, equities research analysts expect that Apollo Endosurgery will post -1.63 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in APEN. Millennium Management LLC bought a new position in shares of Apollo Endosurgery during the fourth quarter valued at approximately $41,000. BlackRock Inc. increased its stake in shares of Apollo Endosurgery by 42.4% during the second quarter. BlackRock Inc. now owns 37,737 shares of the biotechnology company’s stock valued at $122,000 after purchasing an additional 11,229 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Apollo Endosurgery by 5.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 123,117 shares of the biotechnology company’s stock valued at $425,000 after purchasing an additional 6,551 shares in the last quarter. NJ State Employees Deferred Compensation Plan increased its stake in shares of Apollo Endosurgery by 8.3% during the first quarter. NJ State Employees Deferred Compensation Plan now owns 130,000 shares of the biotechnology company’s stock valued at $486,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Apollo Endosurgery by 60.6% during the second quarter. Vanguard Group Inc. now owns 411,327 shares of the biotechnology company’s stock valued at $1,337,000 after purchasing an additional 155,263 shares in the last quarter. 41.86% of the stock is owned by institutional investors and hedge funds.

About Apollo Endosurgery

Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices. Its products include OverStitch and OverStitch Sx Endoscopic Suturing System that enables advanced endoscopic procedures by allowing physicians to place full thickness sutures and secure the approximation of tissue through a flexible endoscope; Orbera365 Managed Weight Loss System; and the BIB for the treatment of overweight and obese adults.

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