Analysts Expect Obalon Therapeutics Inc (OBLN) Will Post Earnings of -$0.31 Per Share

Brokerages predict that Obalon Therapeutics Inc (NASDAQ:OBLN) will announce ($0.31) earnings per share for the current quarter, according to Zacks. Two analysts have issued estimates for Obalon Therapeutics’ earnings, with estimates ranging from ($0.36) to ($0.28). Obalon Therapeutics reported earnings of ($0.60) per share during the same quarter last year, which would indicate a positive year over year growth rate of 48.3%. The company is expected to issue its next earnings results on Monday, March 4th.

According to Zacks, analysts expect that Obalon Therapeutics will report full year earnings of ($1.89) per share for the current fiscal year, with EPS estimates ranging from ($1.93) to ($1.87). For the next year, analysts expect that the firm will post earnings of ($1.39) per share, with EPS estimates ranging from ($1.64) to ($1.14). Zacks’ EPS calculations are an average based on a survey of analysts that cover Obalon Therapeutics.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Obalon Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, November 9th. Northland Securities reiterated a “hold” rating and set a $2.00 price objective on shares of Obalon Therapeutics in a report on Thursday, January 3rd. Finally, Roth Capital reiterated a “buy” rating on shares of Obalon Therapeutics in a report on Tuesday, February 5th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $4.54.

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new position in Obalon Therapeutics during the fourth quarter worth about $29,000. BlackRock Inc. boosted its holdings in Obalon Therapeutics by 31.8% during the fourth quarter. BlackRock Inc. now owns 33,727 shares of the company’s stock worth $70,000 after purchasing an additional 8,142 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Obalon Therapeutics by 288.4% during the second quarter. Renaissance Technologies LLC now owns 56,700 shares of the company’s stock worth $122,000 after purchasing an additional 42,100 shares during the last quarter. Geode Capital Management LLC purchased a new position in Obalon Therapeutics during the fourth quarter worth about $137,000. Finally, Granite Investment Partners LLC purchased a new position in Obalon Therapeutics during the third quarter worth about $210,000. Institutional investors and hedge funds own 31.83% of the company’s stock.

Shares of NASDAQ OBLN traded up $0.04 during mid-day trading on Friday, reaching $2.07. 53,327 shares of the company’s stock traded hands, compared to its average volume of 88,339. The stock has a market capitalization of $44.67 million, a P/E ratio of -1.00 and a beta of -0.98. Obalon Therapeutics has a 1-year low of $1.46 and a 1-year high of $4.60. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.85 and a quick ratio of 4.58.

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.

Recommended Story: The Structure of a Futures Contract

Get a free copy of the Zacks research report on Obalon Therapeutics (OBLN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Obalon Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Obalon Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.