Obalon Therapeutics Inc (OBLN) Expected to Post Earnings of -$0.35 Per Share

Analysts expect that Obalon Therapeutics Inc (NASDAQ:OBLN) will report earnings per share (EPS) of ($0.35) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Obalon Therapeutics’ earnings, with estimates ranging from ($0.40) to ($0.28). Obalon Therapeutics reported earnings per share of ($0.60) in the same quarter last year, which would suggest a positive year over year growth rate of 41.7%. The business is scheduled to announce its next quarterly earnings results on Monday, March 4th.

On average, analysts expect that Obalon Therapeutics will report full year earnings of ($1.93) per share for the current financial year, with EPS estimates ranging from ($2.00) to ($1.86). For the next fiscal year, analysts anticipate that the business will report earnings of ($1.37) per share, with EPS estimates ranging from ($1.69) to ($1.01). Zacks’ earnings per share averages are an average based on a survey of analysts that follow Obalon Therapeutics.

Obalon Therapeutics (NASDAQ:OBLN) last issued its earnings results on Friday, November 2nd. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.46) by $0.11. Obalon Therapeutics had a negative net margin of 178.84% and a negative return on equity of 80.38%. The firm had revenue of $2.99 million during the quarter, compared to analysts’ expectations of $2.45 million.

OBLN has been the subject of a number of recent analyst reports. BTIG Research reaffirmed a “buy” rating on shares of Obalon Therapeutics in a report on Sunday, August 5th. Zacks Investment Research cut shares of Obalon Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, September 14th. Roth Capital assumed coverage on shares of Obalon Therapeutics in a report on Thursday, September 6th. They issued a “buy” rating and a $6.00 price objective for the company. Northland Securities reiterated a “hold” rating and issued a $2.50 target price on shares of Obalon Therapeutics in a research report on Wednesday, September 12th. Finally, Stifel Nicolaus lifted their target price on shares of Obalon Therapeutics from $2.50 to $3.50 and gave the company a “hold” rating in a research report on Tuesday, September 11th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $6.25.

In related news, Director Kim P. Kamdar bought 54,945 shares of the company’s stock in a transaction dated Thursday, August 23rd. The shares were acquired at an average price of $1.82 per share, for a total transaction of $99,999.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Parters Vii L. P. Domain bought 1,648,359 shares of the company’s stock in a transaction dated Thursday, August 23rd. The stock was bought at an average price of $1.82 per share, for a total transaction of $3,000,013.38. The disclosure for this purchase can be found here. 17.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in shares of Obalon Therapeutics by 288.4% in the second quarter. Renaissance Technologies LLC now owns 56,700 shares of the company’s stock valued at $122,000 after purchasing an additional 42,100 shares during the period. C WorldWide Group Holding A S grew its position in shares of Obalon Therapeutics by 27.3% in the second quarter. C WorldWide Group Holding A S now owns 315,790 shares of the company’s stock valued at $679,000 after purchasing an additional 67,746 shares during the period. Granite Investment Partners LLC acquired a new stake in shares of Obalon Therapeutics in the third quarter valued at about $210,000. Finally, Interwest Venture Management Co. grew its position in shares of Obalon Therapeutics by 44.8% in the third quarter. Interwest Venture Management Co. now owns 3,552,239 shares of the company’s stock valued at $9,591,000 after purchasing an additional 1,098,901 shares during the period. Institutional investors and hedge funds own 28.57% of the company’s stock.

OBLN opened at $1.99 on Wednesday. Obalon Therapeutics has a fifty-two week low of $1.46 and a fifty-two week high of $8.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.85 and a quick ratio of 2.80.

Obalon Therapeutics Company Profile

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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