Obalon Therapeutics (NASDAQ:OBLN) issued its earnings results on Monday, March 5th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.12), Bloomberg Earnings reports. Obalon Therapeutics had a negative return on equity of 74.80% and a negative net margin of 350.67%. The company had revenue of $3.69 million for the quarter, compared to the consensus estimate of $3.88 million.
Shares of Obalon Therapeutics stock traded up $0.02 during trading on Thursday, reaching $3.43. The company’s stock had a trading volume of 35,320 shares, compared to its average volume of 270,686. The stock has a market cap of $58.83, a PE ratio of -1.65 and a beta of -3.30. Obalon Therapeutics has a 52 week low of $3.17 and a 52 week high of $13.18. The company has a debt-to-equity ratio of 0.23, a quick ratio of 5.03 and a current ratio of 5.17.
Several research analysts recently weighed in on the stock. Canaccord Genuity reissued a “buy” rating and set a $11.00 price objective (down previously from $15.00) on shares of Obalon Therapeutics in a research note on Monday, January 22nd. They noted that the move was a valuation call. Northland Securities restated a “hold” rating and set a $4.00 target price on shares of Obalon Therapeutics in a report on Wednesday, February 21st. Zacks Investment Research upgraded shares of Obalon Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, BTIG Research reduced their price objective on shares of Obalon Therapeutics to $7.00 and set a “buy” rating for the company in a research report on Tuesday, March 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $8.40.
Hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System raised its stake 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 in the last quarter. State Street Corp increased its stake in shares of Obalon Therapeutics by 66.1% in the second quarter. State Street Corp now owns 71,242 shares of the company’s stock valued at $705,000 after buying an additional 28,356 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Obalon Therapeutics by 8.3% in the second quarter. Vanguard Group Inc. now owns 170,266 shares of the company’s stock valued at $1,687,000 after buying an additional 13,108 shares during the period. 42.65% of the stock is owned by hedge funds and other institutional investors.
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About Obalon Therapeutics
Obalon Therapeutics, Inc is a United States-based commercial-stage medical device company focused on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. The Company’s product, Obalon balloon system, is a swallowable, gas-filled intragastric balloon designed to provide weight loss in obese patients.
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