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

Analysts expect that Obalon Therptcs (NASDAQ:OBLN) will report earnings of ($0.43) per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Obalon Therptcs’ earnings. The lowest EPS estimate is ($0.47) and the highest is ($0.39). The firm is scheduled to announce its next earnings results on Wednesday, August 9th.

On average, analysts expect that Obalon Therptcs will report full-year earnings of ($1.82) per share for the current financial year, with EPS estimates ranging from ($1.86) to ($1.77). For the next fiscal year, analysts forecast that the business will report earnings of ($1.64) per share, with EPS estimates ranging from ($1.65) to ($1.64). Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Obalon Therptcs.

Obalon Therptcs (NASDAQ:OBLN) last announced its quarterly earnings data on Wednesday, May 10th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by $0.14. The company had revenue of $1.47 million for the quarter, compared to the consensus estimate of $1.60 million.

A number of equities research analysts have recently commented on OBLN shares. BTIG Research reiterated a “buy” rating and set a $20.00 price target on shares of Obalon Therptcs in a report on Sunday, March 19th. Canaccord Genuity reiterated a “buy” rating on shares of Obalon Therptcs in a report on Monday, April 17th. Zacks Investment Research downgraded shares of Obalon Therptcs from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. ValuEngine upgraded shares of Obalon Therptcs from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Northland Securities assumed coverage on shares of Obalon Therptcs in a report on Wednesday, June 21st. They set an “under perform” rating and a $6.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Obalon Therptcs has a consensus rating of “Hold” and a consensus price target of $14.20.

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Large investors have recently added to or reduced their stakes in the company. Moisand Fitzgerald Tamayo LLC acquired a new position in shares of Obalon Therptcs during the first quarter worth $358,000. Emerald Advisers Inc. PA acquired a new position in shares of Obalon Therptcs during the first quarter worth $108,000. UBS Group AG boosted its position in shares of Obalon Therptcs by 90.8% in 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 period. Bank of New York Mellon Corp acquired a new position in shares of Obalon Therptcs during the first quarter worth $168,000. Finally, Keybank National Association OH acquired a new position in shares of Obalon Therptcs during the fourth quarter worth $155,000. 61.63% of the stock is currently owned by institutional investors and hedge funds.

Obalon Therptcs (NASDAQ:OBLN) traded down 0.11% during trading on Friday, reaching $9.05. 15,258 shares of the company’s stock traded hands. Obalon Therptcs has a 1-year low of $8.27 and a 1-year high of $15.88. The firm has a 50 day moving average of $10.30 and a 200 day moving average of $10.06. The firm’s market capitalization is $151.97 million.

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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