Apollo Endosurgery, Inc. (APEN) Expected to Post Earnings of -$0.33 Per Share
Wall Street brokerages forecast that Apollo Endosurgery, Inc. (NASDAQ:APEN) will announce earnings of ($0.33) per share for the current quarter, according to Zacks. Two analysts have provided estimates for Apollo Endosurgery’s earnings, with the highest EPS estimate coming in at ($0.29) and the lowest estimate coming in at ($0.37). Apollo Endosurgery reported earnings per share of ($35.01) during the same quarter last year, which suggests a positive year-over-year growth rate of 99.1%. The company is expected to report its next earnings results on Wednesday, March 14th.
On average, analysts expect that Apollo Endosurgery will report full-year earnings of ($1.98) per share for the current year, with EPS estimates ranging from ($2.10) to ($1.85). For the next year, analysts expect that the firm will post earnings of ($1.18) per share, with EPS estimates ranging from ($1.35) to ($1.01). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Apollo Endosurgery.
A number of brokerages recently weighed in on APEN. Northland Securities began coverage on shares of Apollo Endosurgery in a report on Tuesday, September 26th. They issued an “outperform” rating and a $12.00 price target for the company. Zacks Investment Research raised shares of Apollo Endosurgery from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $9.44.
In related news, VP Bret Schwartzhoff purchased 9,500 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was acquired at an average price of $4.24 per share, with a total value of $40,280.00. Following the completion of the acquisition, the vice president now directly owns 15,631 shares in the company, valued at approximately $66,275.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 74.20% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stonepine Capital Management LLC acquired a new stake in Apollo Endosurgery during the 3rd quarter worth $11,067,000. King Luther Capital Management Corp acquired a new stake in Apollo Endosurgery during the 3rd quarter worth $2,567,000. Russell Investments Group Ltd. acquired a new stake in Apollo Endosurgery during the 3rd quarter worth $1,288,000. Woodmont Investment Counsel LLC acquired a new stake in Apollo Endosurgery during the 3rd quarter worth $220,000. Finally, JPMorgan Chase & Co. acquired a new stake in Apollo Endosurgery during the 3rd quarter worth $119,000. 23.67% of the stock is owned by hedge funds and other institutional investors.
Apollo Endosurgery (NASDAQ APEN) traded down $0.23 during trading hours on Friday, hitting $3.98. 122,700 shares of the stock were exchanged, compared to its average volume of 100,744. Apollo Endosurgery has a 52 week low of $3.55 and a 52 week high of $21.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.54 and a quick ratio of 2.00.
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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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