Wall Street analysts expect Obalon Therapeutics Inc (NASDAQ:OBLN) to announce earnings of ($0.50) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Obalon Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.44) and the lowest estimate coming in at ($0.56). Obalon Therapeutics reported earnings per share of ($0.46) during the same quarter last year, which suggests a negative year over year growth rate of 8.7%. The company is scheduled to report its next earnings report on Wednesday, August 1st.
On average, analysts expect that Obalon Therapeutics will report full year earnings of ($2.19) per share for the current financial year, with EPS estimates ranging from ($2.29) to ($2.09). For the next fiscal year, analysts anticipate that the firm will report earnings of ($2.03) per share, with EPS estimates ranging from ($2.06) to ($1.99). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Obalon Therapeutics.
Get Obalon Therapeutics alerts:Obalon Therapeutics (NASDAQ:OBLN) last released its quarterly earnings results on Thursday, May 10th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.17). The company had revenue of $1.35 million for the quarter, compared to analyst estimates of $3.55 million. Obalon Therapeutics had a negative net margin of 399.94% and a negative return on equity of 102.17%.
OBLN has been the topic of a number of research analyst reports. Canaccord Genuity restated a “buy” rating and issued a $10.00 target price (down previously from $11.00) on shares of Obalon Therapeutics in a research note on Tuesday, March 6th. BTIG Research cut their target price on Obalon Therapeutics to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, March 6th. Stifel Nicolaus restated a “buy” rating on shares of Obalon Therapeutics in a research note on Tuesday, March 6th. Zacks Investment Research downgraded Obalon Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, March 8th. Finally, ValuEngine upgraded Obalon Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $8.40.
Shares of NASDAQ OBLN traded down $0.52 during midday trading on Friday, reaching $2.43. The company’s stock had a trading volume of 1,004,100 shares, compared to its average volume of 191,734. Obalon Therapeutics has a 12-month low of $2.09 and a 12-month high of $11.16. The company has a market capitalization of $45.34 million, a PE ratio of -1.17 and a beta of -2.67. The company has a quick ratio of 4.09, a current ratio of 4.29 and a debt-to-equity ratio of 0.29.
Several hedge funds and other institutional investors have recently made changes to their positions in OBLN. Tamarack Advisers LP boosted its stake in shares of Obalon Therapeutics by 10.3% in the 4th quarter. Tamarack Advisers LP now owns 604,036 shares of the company’s stock worth $3,993,000 after buying an additional 56,500 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Obalon Therapeutics by 170.4% in the 4th quarter. Deutsche Bank AG now owns 21,120 shares of the company’s stock worth $138,000 after purchasing an additional 13,309 shares during the period. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Obalon Therapeutics in the 4th quarter worth approximately $1,571,000. Hedge funds and other institutional investors own 35.93% of the company’s stock.
Obalon Therapeutics Company Profile
Obalon Therapeutics, Inc, a vertically integrated medical device company, focuses on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. It 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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