Wall Street analysts predict that Obalon Therapeutics Inc (NASDAQ:OBLN) will announce earnings of ($2.60) per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Obalon Therapeutics’ earnings. The lowest EPS estimate is ($3.50) and the highest is ($1.70). Obalon Therapeutics posted earnings of ($3.50) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 25.7%. The firm is expected to announce its next earnings results on Friday, November 1st.

According to Zacks, analysts expect that Obalon Therapeutics will report full-year earnings of ($11.35) per share for the current year, with EPS estimates ranging from ($13.10) to ($9.60). For the next fiscal year, analysts anticipate that the business will post earnings of ($10.35) per share, with EPS estimates ranging from ($14.40) to ($6.30). Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Obalon Therapeutics.

Obalon Therapeutics (NASDAQ:OBLN) last released its quarterly earnings data on Wednesday, July 24th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.02. Obalon Therapeutics had a negative return on equity of 253.79% and a negative net margin of 425.36%. The business had revenue of $0.39 million during the quarter, compared to analyst estimates of $1.82 million.

A number of research analysts recently issued reports on OBLN shares. ValuEngine lowered Obalon Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded Obalon Therapeutics from a “sell” rating to a “hold” rating and set a $7.50 price objective for the company in a research report on Thursday, July 11th. Finally, Northland Securities restated a “hold” rating on shares of Obalon Therapeutics in a research report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $20.83.

In other Obalon Therapeutics news, major shareholder Interwest Partners X. Lp bought 25,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $4.00 per share, with a total value of $100,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kim P. Kamdar bought 12,500 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were acquired at an average cost of $4.00 per share, for a total transaction of $50,000.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 45,000 shares of company stock valued at $180,000 in the last 90 days. Insiders own 14.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp bought a new stake in Obalon Therapeutics during the 4th quarter valued at $29,000. BlackRock Inc. raised its stake in Obalon Therapeutics by 31.8% during the 4th quarter. BlackRock Inc. now owns 33,727 shares of the company’s stock valued at $70,000 after acquiring an additional 8,142 shares in the last quarter. Geode Capital Management LLC bought a new stake in Obalon Therapeutics during the 4th quarter valued at $137,000. Hoylecohen LLC raised its stake in Obalon Therapeutics by 95.4% during the 2nd quarter. Hoylecohen LLC now owns 204,850 shares of the company’s stock valued at $143,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Obalon Therapeutics by 132.0% during the 2nd quarter. Vanguard Group Inc. now owns 473,870 shares of the company’s stock valued at $331,000 after acquiring an additional 269,582 shares in the last quarter.

NASDAQ:OBLN traded down $0.01 during midday trading on Friday, reaching $2.68. 2,308 shares of the company traded hands, compared to its average volume of 322,123. Obalon Therapeutics has a twelve month low of $2.67 and a twelve month high of $37.00. The stock has a market capitalization of $10.08 million, a price-to-earnings ratio of -0.14 and a beta of -5.34. The company has a quick ratio of 1.48, a current ratio of 1.69 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average of $2.11.

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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