Northland Securities reiterated their sell rating on shares of Obalon Therptcs (NASDAQ:OBLN) in a research note published on Friday morning. The firm currently has a $4.00 target price on the stock.

Several other equities analysts have also commented on the company. UBS Group AG (USA) reissued a buy rating and issued a $20.00 target price (down previously from $22.00) on shares of Obalon Therptcs in a report on Thursday, August 3rd. Zacks Investment Research lowered Obalon Therptcs from a hold rating to a sell rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Obalon Therptcs presently has an average rating of Hold and an average target price of $15.25.

Obalon Therptcs (NASDAQ:OBLN) traded up $0.59 during trading on Friday, reaching $8.96. 79,826 shares of the company’s stock traded hands, compared to its average volume of 52,809. The company has a debt-to-equity ratio of 0.20, a current ratio of 13.29 and a quick ratio of 13.14.

Obalon Therptcs (NASDAQ:OBLN) last posted its earnings results on Friday, November 3rd. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.12). The business had revenue of $2.79 million during the quarter, compared to analysts’ expectations of $2.95 million. Obalon Therptcs had a negative net margin of 566.87% and a negative return on equity of 108.07%. equities research analysts expect that Obalon Therptcs will post -1.81 earnings per share for the current year.

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Several hedge funds have recently modified their holdings of OBLN. Bank of New York Mellon Corp purchased a new position in shares of Obalon Therptcs during the first quarter worth about $168,000. UBS Group AG grew its holdings in shares of Obalon Therptcs by 90.8% during 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. Kornitzer Capital Management Inc. KS grew its holdings in shares of Obalon Therptcs by 0.5% during the second quarter. Kornitzer Capital Management Inc. KS now owns 422,410 shares of the company’s stock worth $4,186,000 after purchasing an additional 2,075 shares during the last quarter. Wetherby Asset Management Inc. purchased a new position in shares of Obalon Therptcs during the second quarter worth about $238,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in shares of Obalon Therptcs during the second quarter worth about $175,000. 44.61% of the stock is currently owned by 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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