Northland Securities downgraded shares of Apollo Endosurgery (NASDAQ:APEN) from an outperform rating to a market perform rating in a research note released on Thursday morning, Marketbeat Ratings reports.

APEN has been the subject of a number of other reports. ValuEngine upgraded Apollo Endosurgery from a hold rating to a buy rating in a report on Thursday, July 12th. Piper Jaffray Companies assumed coverage on Apollo Endosurgery in a report on Friday, April 13th. They set an overweight rating and a $8.00 target price for the company. Zacks Investment Research upgraded Apollo Endosurgery from a sell rating to a hold rating in a report on Wednesday, May 2nd. Finally, Roth Capital restated a neutral rating and set a $9.50 target price on shares of Apollo Endosurgery in a report on Tuesday, July 17th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $8.56.

Shares of NASDAQ APEN traded down $0.05 during mid-day trading on Thursday, reaching $7.75. 106,833 shares of the company’s stock were exchanged, compared to its average volume of 114,648. The company has a current ratio of 2.87, a quick ratio of 1.38 and a debt-to-equity ratio of 0.60. Apollo Endosurgery has a 52-week low of $3.55 and a 52-week high of $9.65.

Apollo Endosurgery (NASDAQ:APEN) last released its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.10). The business had revenue of $15.79 million for the quarter, compared to analysts’ expectations of $16.56 million. Apollo Endosurgery had a negative return on equity of 58.61% and a negative net margin of 46.55%. equities research analysts expect that Apollo Endosurgery will post -1.65 earnings per share for the current year.

In other news, CEO Todd Newton bought 72,727 shares of the stock in a transaction that occurred on Wednesday, June 20th. The stock was bought at an average cost of $5.50 per share, for a total transaction of $399,998.50. Following the acquisition, the chief executive officer now directly owns 268,606 shares of the company’s stock, valued at approximately $1,477,333. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew S. Crawford bought 363,500 shares of the stock in a transaction that occurred on Wednesday, June 20th. The shares were purchased at an average price of $5.50 per share, with a total value of $1,999,250.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 440,772 shares of company stock valued at $2,424,246 over the last 90 days. 52.80% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Cortina Asset Management LLC purchased a new position in Apollo Endosurgery during the 2nd quarter valued at about $2,964,000. Russell Investments Group Ltd. boosted its holdings in Apollo Endosurgery by 25.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 415,402 shares of the biotechnology company’s stock valued at $2,897,000 after acquiring an additional 84,239 shares during the period. Gagnon Securities LLC purchased a new position in Apollo Endosurgery during the 2nd quarter valued at about $2,521,000. Gagnon Advisors LLC purchased a new position in Apollo Endosurgery during the 2nd quarter valued at about $1,752,000. Finally, NJ State Employees Deferred Compensation Plan purchased a new position in Apollo Endosurgery during the 1st quarter valued at about $959,000. Institutional investors own 32.77% of the company’s stock.

About Apollo Endosurgery

Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices for the treatment of obesity. The company offers endo-bariatric products, such as Orbera intragastric balloon system and Orbera365 Managed Weight Loss System, which are non-surgical alternatives for the treatment of overweight and obese adults; and OverStitch endoscopic suturing system that enables endoscopic procedures by allowing physicians to place full-thickness sutures and secure the approximation of tissue through flexible endoscope.

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