Northland Securities Reaffirms Hold Rating for Obalon Therapeutics (NASDAQ:OBLN)

Northland Securities reaffirmed their hold rating on shares of Obalon Therapeutics (NASDAQ:OBLN) in a research report sent to investors on Thursday morning, reports. The firm currently has a $1.00 target price on the stock.

“We assume” that the $5M in debt still has covenants restricting $5M cash on hand.”,” Northland Securities’ analyst wrote.

A number of other brokerages have also recently commented on OBLN. Canaccord Genuity set a $220.00 price target on SAGE Therapeutics and gave the stock a buy rating in a research report on Monday, April 8th. ValuEngine cut Verso from a hold rating to a sell rating in a research report on Thursday, May 23rd. Finally, Zacks Investment Research raised General Moly from a sell rating to a hold rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $2.04.

OBLN stock opened at $0.64 on Thursday. Obalon Therapeutics has a fifty-two week low of $0.37 and a fifty-two week high of $3.70. The stock’s 50 day moving average price is $0.81. The company has a current ratio of 1.20, a quick ratio of 1.12 and a debt-to-equity ratio of 0.13.

Obalon Therapeutics (NASDAQ:OBLN) last posted its earnings results on Friday, May 10th. The company reported ($0.36) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.36). Obalon Therapeutics had a negative return on equity of 100.59% and a negative net margin of 147.30%. The firm had revenue of $1.78 million for the quarter, compared to the consensus estimate of $1.74 million. On average, analysts expect that Obalon Therapeutics will post -1.07 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC bought a new stake in shares of Obalon Therapeutics in the 4th quarter worth approximately $137,000. Bank of New York Mellon Corp bought a new position in Obalon Therapeutics in the 4th quarter valued at approximately $29,000. Finally, BlackRock Inc. lifted its position in Obalon Therapeutics by 31.8% in 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. 22.03% of the stock is currently owned by hedge funds and other institutional investors.

Obalon Therapeutics Company Profile

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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Analyst Recommendations for Obalon Therapeutics (NASDAQ:OBLN)

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