Obseva (OBSV) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Obseva (NASDAQ:OBSV) from a hold rating to a sell rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “ObsEva SA is a clinical-stage biopharmaceutical company. It focuses on the development and commercialization of novel therapeutics for woman’s reproductive health and pregnancy. ObsEva SA is headquartered in Geneva, Switzerland. “

Several other brokerages have also recently weighed in on OBSV. Wedbush set a $34.00 target price on Obseva and gave the company a buy rating in a research note on Friday, January 25th. ValuEngine raised Obseva from a hold rating to a buy rating in a research note on Tuesday, April 9th. HC Wainwright reaffirmed a buy rating on shares of Obseva in a research note on Monday, April 29th. Finally, TheStreet cut Obseva from a c- rating to a d+ rating in a research note on Wednesday, January 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. Obseva currently has an average rating of Buy and a consensus price target of $29.14.

OBSV stock traded down $0.29 during trading hours on Wednesday, hitting $13.00. 799 shares of the stock traded hands, compared to its average volume of 49,300. Obseva has a one year low of $10.23 and a one year high of $20.35. The stock has a market capitalization of $604.39 million, a P/E ratio of -6.81 and a beta of 1.16. The company has a quick ratio of 6.73, a current ratio of 6.73 and a debt-to-equity ratio of 0.02.

Obseva (NASDAQ:OBSV) last announced its earnings results on Thursday, May 9th. The company reported ($0.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.09). The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.01 million. On average, sell-side analysts anticipate that Obseva will post -2.13 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP purchased a new position in Obseva in the 3rd quarter valued at $340,000. Renaissance Technologies LLC grew its position in Obseva by 191.8% in the 3rd quarter. Renaissance Technologies LLC now owns 100,100 shares of the company’s stock valued at $1,805,000 after buying an additional 65,800 shares during the last quarter. First Manhattan Co. grew its position in Obseva by 38.2% in the 4th quarter. First Manhattan Co. now owns 2,117,112 shares of the company’s stock valued at $26,802,000 after buying an additional 584,646 shares during the last quarter. Wedbush Securities Inc. purchased a new position in Obseva in the 4th quarter valued at $264,000. Finally, Aisling Capital Management LP purchased a new position in Obseva in the 4th quarter valued at $17,551,000. 64.66% of the stock is owned by institutional investors and hedge funds.

Obseva Company Profile

ObsEva SA, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for women suffering from reproductive health and pregnancy. It is developing Linzagolix, an oral gonadotropin-releasing hormone receptor antagonist for the treatment of pain associated with endometriosis and heavy menstrual bleeding associated with uterine fibroids in pre-menopausal women; Nolasiban, an oral oxytocin receptor antagonist to enhance clinical pregnancy and live birth rates in women undergoing in vitro fertilization; and OBE022, an oral and selective prostaglandin F2a, or PGF2a receptor antagonist, as a once daily treatment for preterm labor in weeks 24 to 34 of gestational age.

Recommended Story: Gross Domestic Product (GDP)

Get a free copy of the Zacks research report on Obseva (OBSV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Obseva (NASDAQ:OBSV)

Receive News & Ratings for Obseva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Obseva and related companies with MarketBeat.com's FREE daily email newsletter.