Apollo Endosurgery (NASDAQ:APEN) Downgraded by Zacks Investment Research
According to Zacks, “Apollo Endosurgery, Inc. is engaged in designing and manufacturing of medical devices for weight loss solutions and gastrointestinal disorders. The Company’s product segment includes ORBERA (R), LAP-BAND (R) and OverStitch(TM). The ORBERA is an Intragastric Balloon System which is a weight loss aid for adults suffering from obesity. The LAP-BAND System is developed for weight reduction for patients with obesity. The OverStitch Endoscopic Suturing System enables endoscopic surgery. It operates primarily in Asia Pacific, European Office, Latin and South America and Costa Rica. Apollo Endosurgery, Inc., formerly known as Lpath, Inc., is headquatered in Austin, Texas. “
Separately, ValuEngine raised Apollo Endosurgery from a hold rating to a buy rating in a research note on Thursday, August 1st.
Apollo Endosurgery (NASDAQ:APEN) last issued its earnings results on Tuesday, July 23rd. The biotechnology company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.05). Apollo Endosurgery had a negative return on equity of 126.08% and a negative net margin of 69.89%. The business had revenue of $14.25 million for the quarter, compared to analysts’ expectations of $13.54 million. On average, analysts anticipate that Apollo Endosurgery will post -1.55 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new stake in shares of Apollo Endosurgery during the fourth quarter worth $41,000. BlackRock Inc. raised its position in Apollo Endosurgery by 42.4% in the second quarter. BlackRock Inc. now owns 37,737 shares of the biotechnology company’s stock valued at $122,000 after purchasing an additional 11,229 shares during the period. Vanguard Group Inc. raised its position in Apollo Endosurgery by 60.6% in the second quarter. Vanguard Group Inc. now owns 411,327 shares of the biotechnology company’s stock valued at $1,337,000 after purchasing an additional 155,263 shares during the period. Finally, Gagnon Securities LLC raised its position in Apollo Endosurgery by 11.1% in the second quarter. Gagnon Securities LLC now owns 959,013 shares of the biotechnology company’s stock valued at $3,117,000 after purchasing an additional 95,853 shares during the period. 44.30% of the stock is owned by institutional investors.
Apollo Endosurgery Company Profile
Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices. Its products include OverStitch and OverStitch Sx Endoscopic Suturing System that enables advanced endoscopic procedures by allowing physicians to place full thickness sutures and secure the approximation of tissue through a flexible endoscope; Orbera365 Managed Weight Loss System; and the BIB for the treatment of overweight and obese adults.
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