Obalon Therapeutics Inc (OBLN) Receives Average Rating of “Buy” from Analysts

Obalon Therapeutics Inc (NASDAQ:OBLN) has received an average rating of “Buy” from the six analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $12.63.

Several research firms recently weighed in on OBLN. Northland Securities upgraded Obalon Therapeutics from an “underperform” rating to a “market perform” rating in a research report on Thursday, January 25th. Zacks Investment Research upgraded Obalon Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, November 16th. BTIG Research lowered their target price on Obalon Therapeutics from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, November 6th. Canaccord Genuity reiterated a “buy” rating and set a $11.00 target price (down from $15.00) on shares of Obalon Therapeutics in a research report on Monday, January 22nd. They noted that the move was a valuation call. Finally, UBS Group lowered their target price on Obalon Therapeutics from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, November 10th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Granite Investment Partners LLC purchased a new position in shares of Obalon Therapeutics in the third quarter valued at about $1,036,000. Northern Trust Corp lifted its position in shares of Obalon Therapeutics by 109.8% in the second 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 lifted its position in shares of Obalon Therapeutics by 13.7% in the third quarter. C WorldWide Group Holding A S now owns 276,211 shares of the company’s stock valued at $2,632,000 after acquiring an additional 33,318 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its position in shares of Obalon Therapeutics by 89.4% in the third 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. Finally, State Street Corp lifted its position in shares of Obalon Therapeutics by 66.1% in the second quarter. State Street Corp now owns 71,242 shares of the company’s stock valued at $705,000 after acquiring an additional 28,356 shares in the last quarter. Institutional investors own 44.22% of the company’s stock.

Obalon Therapeutics (NASDAQ:OBLN) opened at $4.27 on Friday. The firm has a market capitalization of $74.48 and a price-to-earnings ratio of -2.21. 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 Therapeutics has a 52-week low of $3.40 and a 52-week high of $13.18.

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Obalon Therapeutics 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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