Apollo Endosurgery (NASDAQ:APEN) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Apollo Endosurgery (NASDAQ:APEN) from a sell rating to a hold rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Apollo Endosurgery, Inc. is engaged in designing and manufacturing of medical devices for weight loss solutions and gastrointestinal disorders. The Company’s product segment includes ORBERA (R), LAP-BAND (R) and OverStitch(TM). The ORBERA is an Intragastric Balloon System which is a weight loss aid for adults suffering from obesity. The LAP-BAND System is developed for weight reduction for patients with obesity. The OverStitch Endoscopic Suturing System enables endoscopic surgery. It operates primarily in Asia Pacific, European Office, Latin and South America and Costa Rica. Apollo Endosurgery, Inc., formerly known as Lpath, Inc., is headquatered in Austin, Texas. “

Separately, ValuEngine raised shares of Apollo Endosurgery from a hold rating to a buy rating in a research report on Thursday, August 1st.

Shares of APEN stock traded up $0.26 during trading on Thursday, reaching $3.26. The company’s stock had a trading volume of 15,809 shares, compared to its average volume of 15,555. The firm’s fifty day moving average is $3.12. The company has a current ratio of 2.24, a quick ratio of 1.74 and a debt-to-equity ratio of 1.88. The stock has a market capitalization of $65.80 million, a P/E ratio of -1.70 and a beta of 0.75. Apollo Endosurgery has a one year low of $2.52 and a one year high of $8.14.

Apollo Endosurgery (NASDAQ:APEN) last announced its quarterly earnings data on Tuesday, July 23rd. The biotechnology company reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.05). Apollo Endosurgery had a negative return on equity of 126.08% and a negative net margin of 69.89%. The business had revenue of $14.25 million during the quarter, compared to the consensus estimate of $13.54 million. On average, equities analysts forecast that Apollo Endosurgery will post -1.63 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in APEN. Gagnon Securities LLC grew its stake in shares of Apollo Endosurgery by 1.4% in the first quarter. Gagnon Securities LLC now owns 863,160 shares of the biotechnology company’s stock valued at $3,228,000 after acquiring an additional 11,534 shares in the last quarter. NJ State Employees Deferred Compensation Plan grew its stake in shares of Apollo Endosurgery by 8.3% in the first quarter. NJ State Employees Deferred Compensation Plan now owns 130,000 shares of the biotechnology company’s stock valued at $486,000 after acquiring an additional 10,000 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Apollo Endosurgery in the fourth quarter valued at about $41,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Apollo Endosurgery by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 123,117 shares of the biotechnology company’s stock valued at $425,000 after acquiring an additional 6,551 shares in the last quarter. 41.45% of the stock is owned by institutional investors.

Apollo Endosurgery Company Profile

Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices. Its products include OverStitch and OverStitch Sx Endoscopic Suturing System that enables advanced endoscopic procedures by allowing physicians to place full thickness sutures and secure the approximation of tissue through a flexible endoscope; Orbera365 Managed Weight Loss System; and the BIB for the treatment of overweight and obese adults.

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