Zacks: Analysts Anticipate Obalon Therptcs (OBLN) to Announce -$0.43 Earnings Per Share

Wall Street brokerages forecast that Obalon Therptcs (NASDAQ:OBLN) will announce earnings per share (EPS) of ($0.43) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Obalon Therptcs’ earnings, with the lowest EPS estimate coming in at ($0.45) and the highest estimate coming in at ($0.41). Obalon Therptcs reported earnings of ($5.46) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 92.1%. The business is scheduled to report its next quarterly earnings results on Friday, November 10th.

On average, analysts expect that Obalon Therptcs will report full-year earnings of ($1.81) per share for the current fiscal year, with EPS estimates ranging from ($1.84) to ($1.78). For the next fiscal year, analysts anticipate that the business will post earnings of ($1.67) per share, with EPS estimates ranging from ($1.68) to ($1.65). Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Obalon Therptcs.

Obalon Therptcs (NASDAQ:OBLN) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.03). The company had revenue of $1.96 million during the quarter, compared to analysts’ expectations of $1.77 million. Obalon Therptcs had a negative return on equity of 108.07% and a negative net margin of 566.87%.

OBLN has been the subject of a number of research analyst reports. UBS AG reiterated a “buy” rating and set a $20.00 target price (down previously from $22.00) on shares of Obalon Therptcs in a research note on Wednesday, August 9th. Northland Securities reiterated a “sell” rating and set a $6.00 target price on shares of Obalon Therptcs in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded shares of Obalon Therptcs from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Obalon Therptcs currently has a consensus rating of “Hold” and an average target price of $16.20.

Hedge funds have recently bought and sold shares of the stock. Nicholas Investment Partners LP acquired a new stake in Obalon Therptcs in the first quarter worth about $626,000. William Blair Investment Management LLC lifted its holdings 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 worth $3,267,000 after purchasing an additional 207,041 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Obalon Therptcs by 15.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 625,729 shares of the company’s stock worth $6,689,000 after purchasing an additional 85,594 shares during the period. Wetherby Asset Management Inc. acquired a new stake in Obalon Therptcs in the second quarter worth about $238,000. Finally, Kornitzer Capital Management Inc. KS lifted its holdings in Obalon Therptcs by 0.5% in the second quarter. Kornitzer Capital Management Inc. KS now owns 422,410 shares of the company’s stock worth $4,186,000 after purchasing an additional 2,075 shares during the period. 44.97% of the stock is owned by institutional investors and hedge funds.

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Obalon Therptcs 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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