Brokerages forecast that Apollo Endosurgery Inc (NASDAQ:APEN) will post $16.67 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Apollo Endosurgery’s earnings, with the highest sales estimate coming in at $16.87 million and the lowest estimate coming in at $16.29 million. Apollo Endosurgery reported sales of $17.14 million in the same quarter last year, which would suggest a negative year over year growth rate of 2.7%. The company is scheduled to report its next earnings results on Tuesday, August 7th.

According to Zacks, analysts expect that Apollo Endosurgery will report full-year sales of $67.32 million for the current financial year, with estimates ranging from $66.18 million to $69.00 million. For the next fiscal year, analysts forecast that the business will report sales of $74.07 million per share, with estimates ranging from $70.21 million to $80.35 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Apollo Endosurgery.

Apollo Endosurgery (NASDAQ:APEN) last released its quarterly earnings results on Thursday, May 3rd. The biotechnology company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.07). The firm had revenue of $15.74 million for the quarter, compared to the consensus estimate of $16.00 million. Apollo Endosurgery had a negative net margin of 41.50% and a negative return on equity of 61.61%.

APEN has been the subject of several analyst reports. Zacks Investment Research upgraded Apollo Endosurgery from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Piper Jaffray Companies initiated coverage on Apollo Endosurgery in a research note on Friday, April 13th. They issued an “overweight” rating and a $8.00 price objective for the company. Finally, ValuEngine upgraded Apollo Endosurgery from a “sell” rating to a “hold” rating in a research note on Monday, May 7th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Apollo Endosurgery has an average rating of “Buy” and a consensus price target of $9.15.

In related news, Director Matthew S. Crawford acquired 363,500 shares of Apollo Endosurgery stock in a transaction dated Wednesday, June 20th. The stock was purchased at an average cost of $5.50 per share, for a total transaction of $1,999,250.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Todd Newton acquired 72,727 shares of Apollo Endosurgery stock in a transaction dated Wednesday, June 20th. The stock was bought at an average price of $5.50 per share, with a total value of $399,998.50. Following the completion of the purchase, the chief executive officer now directly owns 268,606 shares in the company, valued at $1,477,333. The disclosure for this purchase can be found here. Insiders bought 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 hedge funds have recently modified their holdings of the business. Stonepine Capital Management LLC increased its stake in Apollo Endosurgery by 8.3% in the 4th quarter. Stonepine Capital Management LLC now owns 2,560,314 shares of the biotechnology company’s stock worth $14,338,000 after buying an additional 195,607 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Apollo Endosurgery by 7.5% in the 1st quarter. Russell Investments Group Ltd. now owns 331,163 shares of the biotechnology company’s stock worth $2,037,000 after buying an additional 23,128 shares in the last quarter. NJ State Employees Deferred Compensation Plan purchased a new stake in Apollo Endosurgery in the 1st quarter worth $959,000. Dimensional Fund Advisors LP purchased a new stake in Apollo Endosurgery in the 1st quarter worth $378,000. Finally, Ardsley Advisory Partners increased its stake in Apollo Endosurgery by 53.2% in the 4th quarter. Ardsley Advisory Partners now owns 28,800 shares of the biotechnology company’s stock worth $161,000 after buying an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 32.77% of the company’s stock.

Shares of NASDAQ APEN traded down $0.11 during midday trading on Monday, hitting $6.50. 71,783 shares of the stock traded hands, compared to its average volume of 61,823. The stock has a market capitalization of $115.74 million, a price-to-earnings ratio of -3.23 and a beta of 0.40. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.98 and a quick ratio of 1.38. Apollo Endosurgery has a one year low of $3.55 and a one year high of $8.50.

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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