Obalon Therptcs (NASDAQ:OBLN) had its price objective reduced by equities research analysts at UBS from $20.00 to $16.00 in a report issued on Friday, November 10th, www.benzinga.com reports. The firm currently has a “buy” rating on the stock. UBS’s price target points to a potential upside of 89.13% from the stock’s current price.
A number of other analysts have also commented on OBLN. Zacks Investment Research raised shares of Obalon Therptcs from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Northland Securities reaffirmed a “sell” rating and set a $6.00 price objective on shares of Obalon Therptcs in a research note on Wednesday, August 2nd. Finally, BTIG Research reduced their price objective on shares of Obalon Therptcs from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, November 6th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $13.00.
Shares of Obalon Therptcs (NASDAQ:OBLN) traded down $0.08 during midday trading on Friday, reaching $8.46. 39,800 shares of the company’s stock were exchanged, compared to its average volume of 50,989. Obalon Therptcs has a 52 week low of $7.60 and a 52 week high of $13.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 8.78 and a quick ratio of 8.65.
Large investors have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC grew its holdings in Obalon Therptcs by 168.9% during the second quarter. William Blair Investment Management LLC now owns 329,643 shares of the company’s stock valued at $3,267,000 after purchasing an additional 207,041 shares during the last quarter. Wetherby Asset Management Inc. acquired a new position in Obalon Therptcs during the second quarter valued at approximately $238,000. Emerald Mutual Fund Advisers Trust grew its holdings in Obalon Therptcs by 89.4% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 63,171 shares of the company’s stock valued at $602,000 after purchasing an additional 29,818 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in Obalon Therptcs by 0.5% during the second quarter. Kornitzer Capital Management Inc. KS now owns 422,410 shares of the company’s stock valued at $4,186,000 after purchasing an additional 2,075 shares during the last quarter. Finally, C WorldWide Group Holding A S grew its holdings in Obalon Therptcs by 13.7% during the third quarter. C WorldWide Group Holding A S now owns 276,211 shares of the company’s stock valued at $2,632,000 after purchasing an additional 33,318 shares during the last quarter. Hedge funds and other institutional investors own 44.05% of the company’s stock.
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Obalon Therptcs Company Profile
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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