Obalon Therapeutics (OBLN) Posts Quarterly Earnings Results, Misses Estimates By $0.12 EPS

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.

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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.

In related news, CFO William J. Plovanic purchased 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The stock was acquired at an average price of $4.04 per share, with a total value of $121,200.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 16.40% of the stock is owned by insiders.

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.

Earnings History for Obalon Therapeutics (NASDAQ:OBLN)

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