Zacks Investment Research cut shares of OBALON THERPTCS (NASDAQ:OBLN) from a hold rating to a sell rating in a report issued on Wednesday morning.

According to Zacks, “Obalon Therapeutics, Inc. is a medical device company. It focused on developing and commercializing medical devices to treat obese and overweight. The company’s product consists of Obalon balloon system, the first swallowable, gas-filled intragastric balloon designed to provide progressive and sustained weight loss in obese patients. Obalon Therapeutics, Inc. is based in San Diego, California. “

Several other research analysts have also issued reports on the company. BTIG Research cut their price target on OBALON THERPTCS from $20.00 to $15.00 and set a buy rating on the stock in a report on Monday, November 6th. Northland Securities reiterated a sell rating and issued a $4.00 price target on shares of OBALON THERPTCS in a report on Friday, November 3rd. Finally, UBS AG reiterated a buy rating and issued a $20.00 price target (down previously from $22.00) on shares of OBALON THERPTCS in a report on Wednesday, August 9th. Three analysts have rated the stock with a sell rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $13.00.

Shares of OBALON THERPTCS (OBLN) traded down $0.18 during trading hours on Wednesday, reaching $8.04. The company’s stock had a trading volume of 30,700 shares, compared to its average volume of 34,067. The company has a debt-to-equity ratio of 0.21, a quick ratio of 13.14 and a current ratio of 8.78. OBALON THERPTCS has a 1-year low of $7.77 and a 1-year high of $13.18.

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

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Institutional investors have recently modified their holdings of the company. UBS Group AG raised its stake in shares of OBALON THERPTCS by 90.8% in the first quarter. UBS Group AG now owns 11,856 shares of the company’s stock worth $127,000 after purchasing an additional 5,641 shares during the last quarter. Blair William & Co. IL purchased a new stake in shares of OBALON THERPTCS in the second quarter worth approximately $134,000. California State Teachers Retirement System raised its stake in shares of OBALON THERPTCS by 53.5% in the second quarter. California State Teachers Retirement System now owns 15,200 shares of the company’s stock worth $151,000 after purchasing an additional 5,300 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of OBALON THERPTCS in the first quarter worth approximately $168,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in shares of OBALON THERPTCS in the second quarter worth approximately $175,000. 44.73% of the stock is owned by hedge funds and other institutional investors.

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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