According to Zacks, “Obalon Therapeutics, Inc. is a medical device company. It focused on developing and commercializing medical devices to treat obese and overweight. The company’s product consists of Obalon balloon system, the first swallowable, gas-filled intragastric balloon designed to provide progressive and sustained weight loss in obese patients. Obalon Therapeutics, Inc. is based in San Diego, California. “
Several other equities research analysts have also recently commented on the company. Northland Securities restated a “hold” rating on shares of Obalon Therapeutics in a research note on Wednesday, July 24th. ValuEngine upgraded Obalon Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $16.90.
Obalon Therapeutics (NASDAQ:OBLN) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.61) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.50) by $2.89. Obalon Therapeutics had a negative return on equity of 253.79% and a negative net margin of 425.36%. The business had revenue of $0.33 million during the quarter, compared to analysts’ expectations of $2.20 million. As a group, research analysts anticipate that Obalon Therapeutics will post -13.1 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Cerity Partners LLC purchased a new position in Obalon Therapeutics in the third quarter worth $301,000. Vanguard Group Inc. raised its position in Obalon Therapeutics by 132.0% in the second quarter. Vanguard Group Inc. now owns 473,870 shares of the company’s stock worth $331,000 after acquiring an additional 269,582 shares in the last quarter. Moisand Fitzgerald Tamayo LLC purchased a new position in Obalon Therapeutics in the third quarter worth $316,000. Perkins Capital Management Inc. purchased a new position in Obalon Therapeutics in the third quarter worth $58,000. Finally, Jane Street Group LLC purchased a new position in Obalon Therapeutics in the second quarter worth $33,000. Hedge funds and other institutional investors own 35.33% of the company’s stock.
About Obalon Therapeutics
Obalon Therapeutics, Inc, a vertically integrated medical device company, focuses on developing and commercializing medical devices to treat people who are obese and overweight. The company 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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