Equities analysts expect Obalon Therapeutics Inc (NASDAQ:OBLN) to post $1.74 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Obalon Therapeutics’ earnings, with the highest sales estimate coming in at $1.77 million and the lowest estimate coming in at $1.70 million. Obalon Therapeutics reported sales of $1.35 million during the same quarter last year, which indicates a positive year-over-year growth rate of 28.9%. The firm is scheduled to announce its next earnings report on Thursday, May 9th.
According to Zacks, analysts expect that Obalon Therapeutics will report full year sales of $9.02 million for the current year, with estimates ranging from $7.09 million to $11.57 million. For the next financial year, analysts expect that the firm will post sales of $12.16 million, with estimates ranging from $10.58 million to $14.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Obalon Therapeutics.
Obalon Therapeutics (NASDAQ:OBLN) last released its earnings results on Friday, February 22nd. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.08). The firm had revenue of $2.04 million for the quarter, compared to analyst estimates of $2.10 million. Obalon Therapeutics had a negative return on equity of 96.97% and a negative net margin of 196.40%.
A number of equities analysts recently weighed in on OBLN shares. Zacks Investment Research cut Obalon Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Northland Securities reissued a “hold” rating and issued a $1.00 price target on shares of Obalon Therapeutics in a research note on Thursday, April 11th. Roth Capital reissued a “neutral” rating and issued a $2.75 price target (down previously from $6.00) on shares of Obalon Therapeutics in a research note on Tuesday, February 26th. Stifel Nicolaus raised Obalon Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the stock from $2.50 to $3.00 in a research note on Monday, February 25th. Finally, Canaccord Genuity cut Obalon Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $3.00 to $1.50 in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $2.04.
Institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in Obalon Therapeutics by 43.2% during the 3rd quarter. Renaissance Technologies LLC now owns 81,200 shares of the company’s stock worth $219,000 after acquiring an additional 24,500 shares during the period. Vanguard Group Inc boosted its position in Obalon Therapeutics by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 444,050 shares of the company’s stock worth $1,199,000 after acquiring an additional 6,900 shares during the period. BlackRock Inc. boosted its position in Obalon Therapeutics by 31.8% during the 4th quarter. BlackRock Inc. now owns 33,727 shares of the company’s stock worth $70,000 after acquiring an additional 8,142 shares during the period. Bank of New York Mellon Corp acquired a new stake in Obalon Therapeutics during the 4th quarter worth about $29,000. Finally, Geode Capital Management LLC acquired a new stake in Obalon Therapeutics during the 4th quarter worth about $137,000. 28.59% of the stock is currently owned by hedge funds and other institutional investors.
Shares of OBLN opened at $0.49 on Friday. The stock has a market capitalization of $12.96 million, a P/E ratio of -0.25 and a beta of -1.49. Obalon Therapeutics has a 1-year low of $0.40 and a 1-year high of $3.79.
About Obalon Therapeutics
Obalon Therapeutics, Inc, a vertically integrated medical device company, focuses on developing and commercializing medical devices to treat people who are obese and overweight. The company offers the Obalon balloon system designed to provide weight loss in obese patients. Obalon Therapeutics, Inc was founded in 2008 and is headquartered in Carlsbad, California.
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