Obalon Therapeutics Inc (OBLN) Expected to Announce Earnings of -$0.48 Per Share

Brokerages predict that Obalon Therapeutics Inc (NASDAQ:OBLN) will report ($0.48) earnings per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Obalon Therapeutics’ earnings. The highest EPS estimate is ($0.46) and the lowest is ($0.50). Obalon Therapeutics reported earnings per share of ($0.51) during the same quarter last year, which would indicate a positive year over year growth rate of 5.9%. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 22nd.

On average, analysts expect that Obalon Therapeutics will report full year earnings of ($1.96) per share for the current year, with EPS estimates ranging from ($1.98) to ($1.94). For the next fiscal year, analysts anticipate that the company will post earnings of ($1.67) per share, with EPS estimates ranging from ($1.68) to ($1.65). Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Obalon Therapeutics.

Obalon Therapeutics (NASDAQ:OBLN) last released 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 firm had revenue of $2.79 million during the quarter, compared to analysts’ expectations of $2.95 million. Obalon Therapeutics had a negative return on equity of 59.77% and a negative net margin of 459.54%.

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity reiterated a “buy” rating and issued a $11.00 target price (down previously from $15.00) on shares of Obalon Therapeutics in a research note on Monday, January 22nd. They noted that the move was a valuation call. UBS Group lowered their target price on Obalon Therapeutics from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, November 10th. BTIG Research lowered their target price on Obalon Therapeutics from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, November 6th. Northland Securities reiterated a “sell” rating and issued a $4.00 target price on shares of Obalon Therapeutics in a research note on Tuesday, January 23rd. Finally, Zacks Investment Research upgraded Obalon Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Obalon Therapeutics presently has an average rating of “Buy” and a consensus target price of $10.90.

A number of hedge funds and other institutional investors have recently modified their holdings of OBLN. Granite Investment Partners LLC acquired a new stake in Obalon Therapeutics during the 3rd quarter valued at approximately $1,036,000. Northern Trust Corp grew its stake in Obalon Therapeutics by 109.8% during the 2nd quarter. Northern Trust Corp now owns 92,237 shares of the company’s stock valued at $914,000 after purchasing an additional 48,268 shares in the last quarter. C WorldWide Group Holding A S grew its stake in Obalon Therapeutics by 13.7% during the 3rd quarter. C WorldWide Group Holding A S now owns 276,211 shares of the company’s stock valued at $2,632,000 after purchasing an additional 33,318 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its stake in Obalon Therapeutics by 89.4% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 63,171 shares of the company’s stock valued at $602,000 after purchasing an additional 29,818 shares in the last quarter. Finally, State Street Corp grew its stake in Obalon Therapeutics by 66.1% during the 2nd quarter. State Street Corp now owns 71,242 shares of the company’s stock valued at $705,000 after purchasing an additional 28,356 shares in the last quarter. Hedge funds and other institutional investors own 44.22% of the company’s stock.

Obalon Therapeutics (OBLN) traded down $0.06 during trading on Monday, hitting $4.35. The stock had a trading volume of 199,425 shares, compared to its average volume of 435,423. The stock has a market cap of $75.87 and a P/E ratio of -2.25. 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 Therapeutics has a 52 week low of $3.40 and a 52 week high of $13.18.

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Obalon Therapeutics 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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