Apollo Endosurgery (APEN) Given a $10.00 Price Target at Roth Capital

Apollo Endosurgery (NASDAQ:APEN) received a $10.00 price target from equities research analysts at Roth Capital in a research note issued on Thursday, January 4th, Marketbeat.com reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Roth Capital’s price target points to a potential upside of 58.48% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. ValuEngine raised shares of Apollo Endosurgery from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 3rd. Zacks Investment Research downgraded shares of Apollo Endosurgery from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Finally, Northland Securities reissued a “buy” rating and issued a $12.00 price objective on shares of Apollo Endosurgery in a report on Monday, December 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Apollo Endosurgery presently has an average rating of “Hold” and a consensus price target of $9.44.

Shares of Apollo Endosurgery (NASDAQ APEN) traded down $0.14 on Thursday, hitting $6.31. 76,900 shares of the stock were exchanged, compared to its average volume of 83,733. The company has a market cap of $109.10, a P/E ratio of -0.29 and a beta of 0.44. The company has a current ratio of 2.54, a quick ratio of 2.00 and a debt-to-equity ratio of 0.58. Apollo Endosurgery has a 52 week low of $3.55 and a 52 week high of $17.48.

Apollo Endosurgery (NASDAQ:APEN) last announced its earnings results on Thursday, October 26th. The biotechnology company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.07. Apollo Endosurgery had a negative net margin of 62.31% and a negative return on equity of 98.11%. analysts expect that Apollo Endosurgery will post -1.96 earnings per share for the current year.

In related news, major shareholder Stonepine Capital, L.P. acquired 185,157 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was acquired at an average cost of $4.85 per share, for a total transaction of $898,011.45. Following the transaction, the insider now directly owns 2,410,141 shares in the company, valued at $11,689,183.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Bret Schwartzhoff acquired 9,500 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were bought at an average price of $4.24 per share, with a total value of $40,280.00. Following the completion of the transaction, the vice president now owns 15,631 shares in the company, valued at $66,275.44. The disclosure for this purchase can be found here. Insiders bought a total of 273,386 shares of company stock valued at $1,328,331 over the last 90 days. Corporate insiders own 74.20% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. acquired a new position in Apollo Endosurgery during the 3rd quarter worth approximately $119,000. Woodmont Investment Counsel LLC acquired a new position in Apollo Endosurgery during the 3rd quarter worth approximately $220,000. Russell Investments Group Ltd. acquired a new position in Apollo Endosurgery during the 3rd quarter worth approximately $1,288,000. King Luther Capital Management Corp acquired a new position in Apollo Endosurgery during the 3rd quarter worth approximately $2,567,000. Finally, Stonepine Capital Management LLC acquired a new position in Apollo Endosurgery during the 3rd quarter worth approximately $11,067,000. Institutional investors and hedge funds own 23.67% of the company’s stock.

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Apollo Endosurgery Company Profile

Apollo Endosurgery, Inc, formerly Lpath, Inc, is a medical device company. The Company is focused on less invasive therapies for the treatment of obesity, as well as other gastrointestinal disorders. The Company’s device-based therapies are an alternative to invasive surgical procedures. The Company offers products in over 80 countries.

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