ReShape Lifesciences (OTCMKTS:RSLSD) Upgraded by ValuEngine to “Buy”

ReShape Lifesciences (OTCMKTS:RSLSD) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Tuesday, ValuEngine reports.

ReShape Lifesciences stock opened at $5.44 on Tuesday. ReShape Lifesciences has a fifty-two week low of $2.91 and a fifty-two week high of $110.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.07 and a current ratio of 1.17.

ReShape Lifesciences (OTCMKTS:RSLSD) last released its quarterly earnings results on Thursday, November 14th. The company reported ($17.36) earnings per share for the quarter. The firm had revenue of $3.52 million during the quarter. ReShape Lifesciences had a negative return on equity of 163.22% and a negative net margin of 668.58%.

In other news, major shareholder Armistice Capital Master Fund purchased 400,636 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were purchased at an average price of $5.25 per share, with a total value of $2,103,339.00. Also, Director David W. Head purchased 10,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was purchased at an average cost of $4.79 per share, for a total transaction of $47,900.00. In the last ninety days, insiders bought 419,166 shares of company stock worth $2,197,100.

About ReShape Lifesciences

ReShape Lifesciences Inc, a medical device company, focuses on the design, development, and commercialization of technology to treat obesity, metabolic diseases, and other gastrointestinal disorders. The company's product portfolio includes ReShape vBloc, a therapy that enables patients to feel full and eat less by intermittently blocking hunger signals on the vagus nerve; ReShape Vest system, an investigational, minimally invasive, laparoscopically implanted medical device that wraps around the stomach to enable weight loss in obese and morbidly obese patients without permanently changing patient anatomy; and Lap-Band System, a minimally invasive long-term treatment of severe obesity and more invasive surgical stapling procedures, such as the gastric bypass or sleeve gastrectomy.

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