OBALON THERPTCS (OBLN) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of OBALON THERPTCS (NASDAQ:OBLN) from a sell rating to a hold rating in a report issued on Thursday 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. “

Other research analysts also recently issued research reports about the company. UBS AG reiterated a buy rating and issued a $20.00 price objective (down previously from $22.00) on shares of OBALON THERPTCS in a report on Wednesday, August 9th. Northland Securities reissued a sell rating and issued a $6.00 target price on shares of OBALON THERPTCS in a research note on Wednesday, August 2nd. Finally, BTIG Research cut their target price on OBALON THERPTCS from $20.00 to $15.00 and set a buy rating on the stock in a research note on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. OBALON THERPTCS presently has an average rating of Hold and an average price target of $13.00.

OBALON THERPTCS (NASDAQ OBLN) traded up $0.03 during midday trading on Thursday, reaching $8.03. The company’s stock had a trading volume of 61,552 shares, compared to its average volume of 36,528. The company has a current ratio of 8.78, a quick ratio of 8.65 and a debt-to-equity ratio of 0.21. OBALON THERPTCS has a twelve month low of $7.70 and a twelve month high of $13.18.

OBALON THERPTCS (NASDAQ:OBLN) last released its quarterly earnings data on Friday, November 3rd. The company reported ($0.55) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.12). The company had revenue of $2.79 million during the quarter, compared to analysts’ expectations of $2.95 million. OBALON THERPTCS had a negative return on equity of 59.77% and a negative net margin of 459.54%. analysts predict that OBALON THERPTCS will post -1.96 EPS for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of OBLN. William Blair Investment Management LLC boosted its position in OBALON THERPTCS by 168.9% during the 2nd quarter. William Blair Investment Management LLC now owns 329,643 shares of the company’s stock valued at $3,267,000 after acquiring an additional 207,041 shares in the last quarter. Granite Investment Partners LLC bought a new stake in OBALON THERPTCS during the 3rd quarter valued at approximately $1,036,000. Northern Trust Corp boosted its position in OBALON THERPTCS by 109.8% during the 2nd quarter. Northern Trust Corp now owns 92,237 shares of the company’s stock valued at $914,000 after acquiring an additional 48,268 shares in the last quarter. C WorldWide Group Holding A S boosted its position in OBALON THERPTCS by 22.8% during the 2nd quarter. C WorldWide Group Holding A S now owns 242,893 shares of the company’s stock valued at $2,407,000 after acquiring an additional 45,088 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its position in OBALON THERPTCS by 89.4% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 63,171 shares of the company’s stock valued at $602,000 after acquiring an additional 29,818 shares in the last quarter. 43.65% of the stock is currently owned by institutional investors and hedge funds.

About OBALON THERPTCS

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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