Obalon Therptcs (NASDAQ:OBLN) Expected to Announce Earnings of -$0.43 Per Share
Equities research analysts expect that Obalon Therptcs (NASDAQ:OBLN) will announce ($0.43) earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Obalon Therptcs’ earnings. The highest EPS estimate is ($0.39) and the lowest is ($0.47). The business is expected to report its next quarterly earnings results on Wednesday, August 9th.
According to Zacks, analysts expect that Obalon Therptcs will report full year earnings of ($1.82) per share for the current financial year, with EPS estimates ranging from ($1.86) to ($1.77). For the next year, analysts anticipate that the firm will post earnings of ($1.64) per share, with EPS estimates ranging from ($1.65) to ($1.64). Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Obalon Therptcs.
Obalon Therptcs (NASDAQ:OBLN) last posted its earnings results on Wednesday, May 10th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by $0.14. The business had revenue of $1.47 million during the quarter, compared to analysts’ expectations of $1.60 million.
A number of analysts recently commented on the company. Northland Securities assumed coverage on Obalon Therptcs in a research report on Wednesday, June 21st. They issued an “under perform” rating and a $6.00 target price for the company. BTIG Research reaffirmed a “buy” rating and issued a $20.00 target price on shares of Obalon Therptcs in a research report on Sunday, March 19th. ValuEngine raised Obalon Therptcs from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Zacks Investment Research downgraded Obalon Therptcs from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Obalon Therptcs in a research note on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $14.20.
Obalon Therptcs (NASDAQ:OBLN) opened at 8.90 on Friday. Obalon Therptcs has a 1-year low of $8.27 and a 1-year high of $15.88. The firm has a 50-day moving average price of $10.30 and a 200-day moving average price of $10.06. The firm’s market capitalization is $149.45 million.
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A number of institutional investors have recently added to or reduced their stakes in OBLN. Neuburgh Advisers LLC bought a new position in Obalon Therptcs during the first quarter worth about $310,000. Meadow Creek Investment Management LLC acquired a new position in shares of Obalon Therptcs during the first quarter worth $659,000. Handelsbanken Fonder AB increased its position in shares of Obalon Therptcs by 200.0% in the first quarter. Handelsbanken Fonder AB now owns 60,000 shares of the company’s stock worth $641,000 after buying an additional 40,000 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Obalon Therptcs during the first quarter worth $168,000. Finally, Elkfork Partners LLC acquired a new position in shares of Obalon Therptcs during the first quarter worth $543,000. Institutional investors and hedge funds own 61.63% of the company’s stock.
Obalon Therptcs 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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