Obalon Therptcs (OBLN) PT Lowered to $16.00 at UBS

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.

Obalon Therptcs (NASDAQ:OBLN) last issued its quarterly earnings results on Friday, November 3rd. The company reported ($0.55) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.12). Obalon Therptcs had a negative net margin of 459.54% and a negative return on equity of 59.77%. The business had revenue of $2.79 million during the quarter, compared to analyst estimates of $2.95 million. equities research analysts forecast that Obalon Therptcs will post -1.96 EPS for the current year.

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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