Wall Street analysts forecast that Obalon Therptcs (NASDAQ:OBLN) will report sales of $3.52 million for the current quarter, Zacks reports. Two analysts have made estimates for Obalon Therptcs’ earnings, with estimates ranging from $3.40 million to $3.63 million. Obalon Therptcs posted sales of $770,000.00 during the same quarter last year, which would indicate a positive year over year growth rate of 357.1%. The company is scheduled to issue its next earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Obalon Therptcs will report full-year sales of $3.52 million for the current year, with estimates ranging from $9.60 million to $9.85 million. For the next fiscal year, analysts forecast that the firm will report sales of $21.50 million per share, with estimates ranging from $18.19 million to $24.80 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Obalon Therptcs.

Obalon Therptcs (NASDAQ:OBLN) last posted its quarterly earnings data on Friday, November 3rd. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.12). The company had revenue of $2.79 million for the quarter, compared to analyst estimates of $2.95 million. Obalon Therptcs had a negative net margin of 459.54% and a negative return on equity of 59.77%.

A number of analysts recently commented on OBLN shares. BTIG Research decreased their price objective on Obalon Therptcs from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, November 6th. UBS decreased their price objective on Obalon Therptcs from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, November 10th. Zacks Investment Research raised Obalon Therptcs from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, Northland Securities reissued a “sell” rating and issued a $4.00 price target on shares of Obalon Therptcs in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Obalon Therptcs has a consensus rating of “Hold” and a consensus price target of $13.00.

A number of large investors have recently modified their holdings of OBLN. Wetherby Asset Management Inc. acquired a new stake in Obalon Therptcs in the 2nd quarter worth about $238,000. Schwab Charles Investment Management Inc. acquired a new stake in Obalon Therptcs in the 2nd quarter worth about $175,000. Bank of New York Mellon Corp boosted its stake in Obalon Therptcs by 33.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,135 shares of the company’s stock worth $210,000 after buying an additional 5,353 shares during the last quarter. Blair William & Co. IL acquired a new stake in Obalon Therptcs in the 2nd quarter worth about $134,000. Finally, William Blair Investment Management LLC boosted its stake in Obalon Therptcs by 168.9% in the 2nd quarter. William Blair Investment Management LLC now owns 329,643 shares of the company’s stock worth $3,267,000 after buying an additional 207,041 shares during the last quarter. 44.05% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Obalon Therptcs (NASDAQ OBLN) opened at $7.54 on Monday. The company has a current ratio of 8.78, a quick ratio of 8.65 and a debt-to-equity ratio of 0.21. Obalon Therptcs has a 52 week low of $6.91 and a 52 week high of $13.18.

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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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