OBALON THERPTCS (OBLN) PT Lowered to $16.00 at UBS AG

OBALON THERPTCS (NASDAQ:OBLN) had its price target reduced by UBS AG from $20.00 to $16.00 in a report issued on Friday, www.benzinga.com reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of OBALON THERPTCS from a hold rating to a sell rating in a research note on Wednesday, November 8th. BTIG Research decreased their price objective on shares of OBALON THERPTCS from $20.00 to $15.00 and set a buy rating on the stock in a research note on Monday, November 6th. Finally, Northland Securities reissued a sell rating and issued a $4.00 price objective on shares of OBALON THERPTCS in a research note on Friday, November 3rd. Three analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $13.00.

OBALON THERPTCS (OBLN) traded down $0.18 during midday trading on Friday, hitting $8.04. 30,700 shares of the stock were exchanged, compared to its average volume of 34,629. The company has a debt-to-equity ratio of 0.21, a current ratio of 8.78 and a quick ratio of 8.65. OBALON THERPTCS has a 52 week low of $7.77 and a 52 week high of $13.18.

OBALON THERPTCS (NASDAQ:OBLN) last released its quarterly earnings results on Friday, November 3rd. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.12). The business had revenue of $2.79 million during 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%. sell-side analysts anticipate that OBALON THERPTCS will post -1.96 earnings per share for the current year.

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Large investors have recently made changes to their positions in the stock. William Blair Investment Management LLC increased its stake in OBALON THERPTCS by 168.9% in the second quarter. William Blair Investment Management LLC now owns 329,643 shares of the company’s stock valued at $3,267,000 after acquiring an additional 207,041 shares during the last quarter. Wetherby Asset Management Inc. bought a new stake in shares of OBALON THERPTCS during the second quarter worth $238,000. Kornitzer Capital Management Inc. KS grew its stake in shares of OBALON THERPTCS by 0.5% during the second quarter. Kornitzer Capital Management Inc. KS now owns 422,410 shares of the company’s stock worth $4,186,000 after buying an additional 2,075 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of OBALON THERPTCS by 33.9% during the second 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. Finally, UBS Group AG grew its stake in shares of OBALON THERPTCS by 90.8% during the first quarter. UBS Group AG now owns 11,856 shares of the company’s stock worth $127,000 after buying an additional 5,641 shares during the last quarter. 43.65% of the stock is currently owned by institutional investors and hedge funds.

About OBALON THERPTCS

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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