Obalon Therptcs (NASDAQ:OBLN) had its target price reduced by equities researchers at BTIG Research from $20.00 to $15.00 in a report released on Monday. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 67.41% from the stock’s previous close.

A number of other research analysts have also issued reports on OBLN. Northland Securities restated a “sell” rating and set a $6.00 price target on shares of Obalon Therptcs in a research note on Wednesday, August 2nd. UBS AG restated a “buy” rating and set a $20.00 price target (down previously from $22.00) on shares of Obalon Therptcs in a research note on Thursday, August 3rd. Finally, Zacks Investment Research lowered shares of Obalon Therptcs from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $14.00.

Obalon Therptcs (NASDAQ OBLN) opened at $8.96 on Monday. The company has a quick ratio of 13.14, a current ratio of 13.29 and a debt-to-equity ratio of 0.20.

Obalon Therptcs (NASDAQ:OBLN) last posted its quarterly earnings data on Friday, November 3rd. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.12). The firm had revenue of $2.79 million for the quarter, compared to the consensus estimate of $2.95 million. Obalon Therptcs had a negative return on equity of 56.19% and a negative net margin of 459.54%. research analysts predict that Obalon Therptcs will post -1.81 earnings per share for the current year.

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A number of institutional investors have recently modified their holdings of OBLN. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Obalon Therptcs by 0.5% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 422,410 shares of the company’s stock valued at $4,186,000 after acquiring an additional 2,075 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Obalon Therptcs by 53.5% in the 2nd quarter. California State Teachers Retirement System now owns 15,200 shares of the company’s stock valued at $151,000 after acquiring an additional 5,300 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Obalon Therptcs by 33.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,135 shares of the company’s stock valued at $210,000 after acquiring an additional 5,353 shares during the last quarter. UBS Group AG boosted its holdings in shares of Obalon Therptcs by 90.8% in the 1st quarter. UBS Group AG now owns 11,856 shares of the company’s stock valued at $127,000 after acquiring an additional 5,641 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Obalon Therptcs by 6.7% in the 2nd quarter. Royal Bank of Canada now owns 91,499 shares of the company’s stock valued at $907,000 after acquiring an additional 5,732 shares during the last quarter. Institutional investors and hedge funds own 44.73% of the company’s stock.

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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