Obalon Therapeutics (NASDAQ:OBLN) Stock Rating Reaffirmed by Northland Securities

Obalon Therapeutics (NASDAQ:OBLN)‘s stock had its “hold” rating reiterated by analysts at Northland Securities in a research note issued on Thursday, AnalystRatings.com reports. They presently have a $1.00 price target on the stock. Northland Securities’ target price indicates a potential upside of 57.48% from the stock’s current price.

The analysts wrote, “We assume” that the $5M in debt still has covenants restricting $5M cash on hand.””

Several other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of General Moly from a “sell” rating to a “hold” rating in a research report on Thursday. Canaccord Genuity set a $220.00 price objective on shares of SAGE Therapeutics and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, ValuEngine cut shares of Verso from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Obalon Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $2.04.

OBLN opened at $0.64 on Thursday. The company has a market cap of $19.69 million, a PE ratio of -0.32 and a beta of -5.33. Obalon Therapeutics has a 12 month low of $0.37 and a 12 month high of $3.70. The company has a fifty day moving average of $0.81. The company has a quick ratio of 1.12, a current ratio of 1.20 and a debt-to-equity ratio of 0.13.

Obalon Therapeutics (NASDAQ:OBLN) last posted its quarterly earnings data on Friday, May 10th. The company reported ($0.36) EPS for the quarter, meeting the consensus estimate of ($0.36). The business had revenue of $1.78 million for the quarter, compared to analysts’ expectations of $1.74 million. Obalon Therapeutics had a negative net margin of 147.30% and a negative return on equity of 100.59%. As a group, equities research analysts predict that Obalon Therapeutics will post -1.29 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC acquired a new stake in Obalon Therapeutics in the 4th quarter valued at $137,000. BlackRock Inc. increased its stake 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 buying an additional 8,142 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Obalon Therapeutics in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 22.03% of the company’s stock.

About Obalon Therapeutics

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.

Read More: What is a trade deficit?

Analyst Recommendations for Obalon Therapeutics (NASDAQ:OBLN)

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