Apollo Endosurgery (NASDAQ:APEN) Rating Increased to Buy at ValuEngine

Apollo Endosurgery (NASDAQ:APEN) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

Separately, Zacks Investment Research downgraded shares of Apollo Endosurgery from a “hold” rating to a “sell” rating in a research note on Friday, July 26th.

Shares of APEN traded up $0.07 during mid-day trading on Thursday, hitting $2.80. 4,096 shares of the company’s stock were exchanged, compared to its average volume of 18,860. Apollo Endosurgery has a fifty-two week low of $2.70 and a fifty-two week high of $8.65. The stock has a market cap of $59.87 million, a price-to-earnings ratio of -1.46 and a beta of 0.74. The company has a 50 day simple moving average of $3.28. The company has a debt-to-equity ratio of 1.88, a current ratio of 2.24 and a quick ratio of 1.74.

Apollo Endosurgery (NASDAQ:APEN) last announced its earnings results on Tuesday, July 23rd. The biotechnology company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.05). Apollo Endosurgery had a negative return on equity of 126.08% and a negative net margin of 69.89%. The business had revenue of $14.25 million for the quarter, compared to analyst estimates of $13.54 million. On average, analysts expect that Apollo Endosurgery will post -1.63 earnings per share for the current year.

In other news, CEO Todd Newton acquired 25,000 shares of Apollo Endosurgery stock in a transaction that occurred on Friday, May 10th. The stock was purchased at an average price of $3.53 per share, for a total transaction of $88,250.00. Following the completion of the transaction, the chief executive officer now directly owns 317,668 shares in the company, valued at $1,121,368.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 37.20% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Gagnon Securities LLC lifted its position in Apollo Endosurgery by 1.4% in the first quarter. Gagnon Securities LLC now owns 863,160 shares of the biotechnology company’s stock valued at $3,228,000 after purchasing an additional 11,534 shares during the period. NJ State Employees Deferred Compensation Plan lifted its position in shares of Apollo Endosurgery by 8.3% during the 1st quarter. NJ State Employees Deferred Compensation Plan now owns 130,000 shares of the biotechnology company’s stock valued at $486,000 after acquiring an additional 10,000 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Apollo Endosurgery by 5.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 123,117 shares of the biotechnology company’s stock valued at $425,000 after acquiring an additional 6,551 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of Apollo Endosurgery during the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 41.47% of the company’s stock.

About Apollo Endosurgery

Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices. Its products include OverStitch and OverStitch Sx Endoscopic Suturing System that enables advanced endoscopic procedures by allowing physicians to place full thickness sutures and secure the approximation of tissue through a flexible endoscope; Orbera365 Managed Weight Loss System; and the BIB for the treatment of overweight and obese adults.

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