Zacks: Brokerages Expect Obalon Therapeutics Inc (OBLN) Will Post Quarterly Sales of $3.88 Million

Brokerages expect Obalon Therapeutics Inc (NASDAQ:OBLN) to post $3.88 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Obalon Therapeutics’ earnings, with estimates ranging from $3.86 million to $3.90 million. Obalon Therapeutics reported sales of $770,000.00 in the same quarter last year, which indicates a positive year over year growth rate of 403.9%. The business is expected to announce its next quarterly earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that Obalon Therapeutics will report full year sales of $3.88 million for the current financial year, with estimates ranging from $10.08 million to $10.10 million. For the next financial year, analysts anticipate that the business will report sales of $21.25 million per share, with estimates ranging from $18.19 million to $24.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Obalon Therapeutics.

Obalon Therapeutics (NASDAQ:OBLN) last posted its earnings results on Friday, November 3rd. The company reported ($0.55) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.12). Obalon Therapeutics had a negative return on equity of 59.77% and a negative net margin of 459.54%. The firm had revenue of $2.79 million during the quarter, compared to the consensus estimate of $2.95 million.

A number of brokerages have commented on OBLN. Northland Securities raised shares of Obalon Therapeutics from an “underperform” rating to a “market perform” rating in a report on Thursday, January 25th. Canaccord Genuity reissued a “buy” rating and set a $11.00 price objective (down previously from $15.00) on shares of Obalon Therapeutics in a report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Obalon Therapeutics from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a report on Thursday, January 11th. BTIG Research reissued a “buy” rating and set a $15.00 price objective on shares of Obalon Therapeutics in a report on Thursday, November 16th. Finally, UBS Group decreased their price objective on shares of Obalon Therapeutics from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $10.90.

Shares of Obalon Therapeutics (NASDAQ:OBLN) opened at $4.39 on Wednesday. The company has a quick ratio of 8.65, a current ratio of 8.78 and a debt-to-equity ratio of 0.21. Obalon Therapeutics has a fifty-two week low of $3.40 and a fifty-two week high of $13.18. The firm has a market cap of $76.57 and a PE ratio of -2.27.

A number of large investors have recently modified their holdings of OBLN. Schwab Charles Investment Management Inc. bought a new stake in Obalon Therapeutics during the 2nd quarter worth about $175,000. Bank of New York Mellon Corp boosted its stake in shares of Obalon Therapeutics by 33.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,135 shares of the company’s stock valued at $210,000 after purchasing an additional 5,353 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Obalon Therapeutics by 235.7% in the 2nd quarter. Teachers Advisors LLC now owns 17,621 shares of the company’s stock valued at $175,000 after purchasing an additional 12,372 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Obalon Therapeutics by 511.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 23,577 shares of the company’s stock valued at $234,000 after purchasing an additional 19,723 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Obalon Therapeutics by 109.8% in 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 during the last quarter. 44.22% of the stock is currently owned by hedge funds and other institutional investors.

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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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