Apollo Endosurgery (NASDAQ:APEN) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Apollo Endosurgery (NASDAQ:APEN) from a sell rating to a hold rating in a research report sent to investors on Friday morning, Zacks.com reports.

According to Zacks, “Apollo Endosurgery, Inc. is engaged in designing and manufacturing of medical devices for weight loss solutions and gastrointestinal disorders. The Company’s product segment includes ORBERA (R), LAP-BAND (R) and OverStitch(TM). The ORBERA is an Intragastric Balloon System which is a weight loss aid for adults suffering from obesity. The LAP-BAND System is developed for weight reduction for patients with obesity. The OverStitch Endoscopic Suturing System enables endoscopic surgery. It operates primarily in Asia Pacific, European Office, Latin and South America and Costa Rica. Apollo Endosurgery, Inc., formerly known as Lpath, Inc., is headquatered in Austin, Texas. “

Separately, ValuEngine upgraded shares of Apollo Endosurgery from a hold rating to a buy rating in a report on Thursday, August 1st.

Apollo Endosurgery stock opened at $3.27 on Friday. The company has a debt-to-equity ratio of 1.88, a current ratio of 2.24 and a quick ratio of 1.74. Apollo Endosurgery has a one year low of $2.52 and a one year high of $8.14. The company’s fifty day moving average price is $3.04 and its two-hundred day moving average price is $3.41.

Apollo Endosurgery (NASDAQ:APEN) last released its quarterly earnings results on Tuesday, July 23rd. The biotechnology company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.05). Apollo Endosurgery had a negative net margin of 69.89% and a negative return on equity of 126.08%. The firm had revenue of $14.25 million for the quarter, compared to the consensus estimate of $13.54 million. Sell-side analysts anticipate that Apollo Endosurgery will post -1.63 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Gagnon Securities LLC boosted its holdings in Apollo Endosurgery by 11.1% during the second quarter. Gagnon Securities LLC now owns 959,013 shares of the biotechnology company’s stock valued at $3,117,000 after acquiring an additional 95,853 shares during the period. Vanguard Group Inc. lifted its stake in shares of Apollo Endosurgery by 60.6% in the second quarter. Vanguard Group Inc. now owns 411,327 shares of the biotechnology company’s stock valued at $1,337,000 after buying an additional 155,263 shares during the period. NJ State Employees Deferred Compensation Plan lifted its stake in shares of Apollo Endosurgery by 8.3% in the first quarter. NJ State Employees Deferred Compensation Plan now owns 130,000 shares of the biotechnology company’s stock valued at $486,000 after buying an additional 10,000 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Apollo Endosurgery by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 123,117 shares of the biotechnology company’s stock valued at $425,000 after buying an additional 6,551 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of Apollo Endosurgery by 42.4% in the second quarter. BlackRock Inc. now owns 37,737 shares of the biotechnology company’s stock valued at $122,000 after buying an additional 11,229 shares during the period. Institutional investors own 41.45% of the company’s stock.

Apollo Endosurgery Company Profile

Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices. Its products include OverStitch and OverStitch Sx Endoscopic Suturing System that enables advanced endoscopic procedures by allowing physicians to place full thickness sutures and secure the approximation of tissue through a flexible endoscope; Orbera365 Managed Weight Loss System; and the BIB for the treatment of overweight and obese adults.

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