They presently have a $11.00 target price on the stock, down from their previous target price of $15.00. The Company's product, Obalon balloon system, is a swallowable, gas-filled intragastric balloon created to provide weight loss in obese patients. Finally, Northland Securities reaffirmed a "sell" rating and set a $4.00 price target on shares of Obalon Therapeutics in a research note on Tuesday.
A number of hedge funds and other institutional investors have recently bought and sold shares of OBLN. Obalon Therapeutics has an average rating of "Hold" and an average target price of $10.90. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. Obalon Therapeutics, Inc. (NASDAQ:OBLN) has 0.00% since January 24, 2017 and is. The company has market cap of $60.35 million. The company's shares opened today at $5.40, close to its 52-week low of $4.29. Obalon Therapeutics has a twelve month low of $3.40 and a twelve month high of $13.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 8.78 and a quick ratio of 8.65.
Obalon Therapeutics (NASDAQ:OBLN) last posted its earnings results on Friday, November 3rd. The company reported ($0.55) EPS for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.12). The termination was due to a purported whistleblower complaint submitted to KPMG LLP, the Company's independent auditors, related to allegedly improper revenue recognition during the Company's fourth fiscal quarter of 2017.
On Jan.5, Obalon said its preliminary revenue for fourth quarter ended Dec.31 grew almost five times from a year earlier to about $3.9 million, lifting its full-year revenue to $10.1 million. Bank of New York Mellon Corp lifted its holdings in shares of Obalon Therapeutics by 33.9% during the 2nd quarter. California State Teachers Retirement System now owns 15,200 shares of the company's stock valued at $151,000 after acquiring an additional 5,300 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Obalon Therapeutics by 8.3% during the 2nd quarter. Teachers Advisors LLC increased its holdings in Obalon Therapeutics by 235.7% in the 2nd quarter. C WorldWide Group Holding A S lifted its position in Obalon Therapeutics by 13.7% during the third quarter. TIAA CREF Investment Management LLC increased its holdings in Obalon Therapeutics by 511.8% in the 2nd quarter. Northern Trust Corp now owns 92,237 shares of the company's stock worth $914,000 after acquiring an additional 48,268 shares during the period.
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. The Obalon balloon system intends to provide patients and physicians with a reversible and repeatable weight loss solution in an outpatient setting, without altering patient anatomy or requiring surgery.