Zacks: Brokerages Anticipate Obalon Therapeutics Inc (OBLN) Will Announce Quarterly Sales of $2.71 Million

Equities analysts forecast that Obalon Therapeutics Inc (NASDAQ:OBLN) will announce sales of $2.71 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Obalon Therapeutics’ earnings, with estimates ranging from $2.70 million to $2.71 million. Obalon Therapeutics posted sales of $2.79 million during the same quarter last year, which would suggest a negative year over year growth rate of 2.9%. The firm is scheduled to announce its next quarterly earnings report on Friday, November 2nd.

On average, analysts expect that Obalon Therapeutics will report full-year sales of $9.86 million for the current fiscal year, with estimates ranging from $9.50 million to $10.21 million. For the next financial year, analysts anticipate that the business will report sales of $15.41 million per share, with estimates ranging from $14.31 million to $16.50 million. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Obalon Therapeutics.

Obalon Therapeutics (NASDAQ:OBLN) last released its earnings results on Thursday, August 2nd. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.06). Obalon Therapeutics had a negative net margin of 205.20% and a negative return on equity of 72.76%. The firm had revenue of $2.73 million during the quarter, compared to the consensus estimate of $3.40 million.

A number of research firms recently commented on OBLN. BTIG Research reaffirmed a “buy” rating on shares of Obalon Therapeutics in a research note on Sunday, August 5th. Stifel Nicolaus lowered their target price on Obalon Therapeutics from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Friday, August 3rd. Northland Securities raised Obalon Therapeutics from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 2nd. Zacks Investment Research lowered Obalon Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. Finally, ValuEngine raised Obalon Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, July 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $7.33.

Shares of NASDAQ:OBLN traded down $0.04 during midday trading on Thursday, hitting $1.76. 3,866 shares of the stock were exchanged, compared to its average volume of 97,175. The company has a current ratio of 2.98, a quick ratio of 2.80 and a debt-to-equity ratio of 0.37. The stock has a market cap of $32.07 million, a P/E ratio of -0.85 and a beta of -2.81. Obalon Therapeutics has a 12 month low of $1.46 and a 12 month high of $10.40.

Several hedge funds have recently bought and sold shares of the company. Deutsche Bank AG lifted its holdings in Obalon Therapeutics by 170.4% during the 4th quarter. Deutsche Bank AG now owns 21,120 shares of the company’s stock worth $138,000 after purchasing an additional 13,309 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in Obalon Therapeutics during the 4th quarter worth about $1,571,000. Finally, C WorldWide Group Holding A S grew its position in Obalon Therapeutics by 27.3% during the 2nd quarter. C WorldWide Group Holding A S now owns 315,790 shares of the company’s stock worth $679,000 after acquiring an additional 67,746 shares during the last quarter. Institutional investors own 34.14% of the company’s stock.

About Obalon Therapeutics

Obalon Therapeutics, Inc, a vertically integrated medical device company, focuses on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. It offers the Obalon balloon system designed to provide weight loss in obese patients. Obalon Therapeutics, Inc was founded in 2008 and is headquartered in Carlsbad, California.

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