Obalon Therapeutics Inc (OBLN) Expected to Announce Earnings of -$0.49 Per Share

Analysts expect Obalon Therapeutics Inc (NASDAQ:OBLN) to post earnings per share of ($0.49) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Obalon Therapeutics’ earnings. The highest EPS estimate is ($0.48) and the lowest is ($0.50). Obalon Therapeutics reported earnings per share of ($0.55) during the same quarter last year, which would indicate a positive year over year growth rate of 10.9%. The company is expected to announce its next earnings report on Friday, November 2nd.

According to Zacks, analysts expect that Obalon Therapeutics will report full-year earnings of ($2.28) per share for the current financial year. For the next fiscal year, analysts anticipate that the company will report earnings of ($1.92) per share, with EPS estimates ranging from ($1.95) to ($1.89). Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover Obalon Therapeutics.

Obalon Therapeutics (NASDAQ:OBLN) last announced its earnings results on Thursday, August 2nd. The company reported ($0.57) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.06). Obalon Therapeutics had a negative return on equity of 72.76% and a negative net margin of 205.20%. The business had revenue of $2.73 million for the quarter, compared to analysts’ expectations of $3.40 million.



Several brokerages recently weighed in on OBLN. BTIG Research restated a “buy” rating on shares of Obalon Therapeutics in a research note on Sunday, August 5th. Stifel Nicolaus decreased their price objective on Obalon Therapeutics from $3.00 to $2.00 and set a “hold” rating for the company in a report on Friday, August 3rd. ValuEngine upgraded Obalon Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, July 4th. Northland Securities upgraded Obalon Therapeutics from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research lowered Obalon Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $7.33.

Obalon Therapeutics traded down $0.04, hitting $1.76, on Tuesday, Marketbeat Ratings reports. 3,866 shares of the company’s stock were exchanged, compared to its average volume of 97,175. Obalon Therapeutics has a 12-month low of $1.46 and a 12-month high of $10.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.98 and a quick ratio of 2.80. The company has a market cap of $32.07 million, a price-to-earnings ratio of -0.85 and a beta of -2.81.

Several hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. acquired a new position in Obalon Therapeutics during the fourth quarter worth $1,571,000. C WorldWide Group Holding A S lifted its stake in Obalon Therapeutics by 27.3% during the second quarter. C WorldWide Group Holding A S now owns 315,790 shares of the company’s stock worth $679,000 after purchasing an additional 67,746 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Obalon Therapeutics by 170.4% during the fourth quarter. Deutsche Bank AG now owns 21,120 shares of the company’s stock worth $138,000 after purchasing an additional 13,309 shares in the last quarter. Institutional investors and hedge funds own 34.14% of the company’s stock.

Obalon Therapeutics Company Profile

Obalon Therapeutics, Inc, a vertically integrated medical device company, focuses on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. It 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.

Further Reading: Price to Earnings Ratio (PE) Basics

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