$1.77 Million in Sales Expected for Obalon Therptcs (OBLN) This Quarter
Brokerages forecast that Obalon Therptcs (NASDAQ:OBLN) will announce $1.77 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Obalon Therptcs’ earnings. The highest sales estimate is $1.80 million and the lowest is $1.73 million. The business is scheduled to issue its next earnings report on Wednesday, August 9th.
On average, analysts expect that Obalon Therptcs will report full-year sales of $1.77 million for the current fiscal year, with estimates ranging from $9.20 million to $9.63 million. For the next financial year, analysts expect that the company will report sales of $21.10 million per share, with estimates ranging from $18.19 million to $24.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Obalon Therptcs.
Obalon Therptcs (NASDAQ:OBLN) last posted its quarterly earnings results on Wednesday, May 10th. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by $0.14. The company had revenue of $1.47 million for the quarter, compared to the consensus estimate of $1.60 million.
A number of research analysts have commented on OBLN shares. BTIG Research reaffirmed a “buy” rating and issued a $20.00 target price on shares of Obalon Therptcs in a research report on Sunday, March 19th. Canaccord Genuity reaffirmed a “buy” rating on shares of Obalon Therptcs in a research report on Monday, April 17th. Zacks Investment Research cut shares of Obalon Therptcs from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. ValuEngine raised shares of Obalon Therptcs from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, Northland Securities started coverage on shares of Obalon Therptcs in a research report on Wednesday, June 21st. They issued an “under perform” rating and a $6.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $14.20.
A number of hedge funds have recently modified their holdings of OBLN. Massachusetts Financial Services Co. MA raised its stake in shares of Obalon Therptcs by 15.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 625,729 shares of the company’s stock worth $6,689,000 after buying an additional 85,594 shares during the period. Kornitzer Capital Management Inc. KS raised its stake in Obalon Therptcs by 0.7% in the first quarter. Kornitzer Capital Management Inc. KS now owns 420,335 shares of the company’s stock worth $4,493,000 after buying an additional 3,105 shares during the last quarter. C WorldWide Group Holding A S raised its stake in Obalon Therptcs by 97.8% in the first quarter. C WorldWide Group Holding A S now owns 197,805 shares of the company’s stock worth $2,115,000 after buying an additional 97,805 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Obalon Therptcs during the first quarter worth $1,311,000. Finally, Formula Growth Ltd. raised its stake in Obalon Therptcs by 45.3% in the first quarter. Formula Growth Ltd. now owns 108,998 shares of the company’s stock worth $1,165,000 after buying an additional 34,000 shares during the last quarter. Institutional investors own 61.63% of the company’s stock.
Obalon Therptcs (NASDAQ:OBLN) remained flat at $9.03 on Friday. The stock had a trading volume of 9,025 shares. The firm’s market cap is $151.63 million. The company’s 50-day moving average is $10.30 and its 200 day moving average is $10.06. Obalon Therptcs has a 52 week low of $8.27 and a 52 week high of $15.88.
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Obalon Therptcs Company Profile
Obalon Therapeutics, Inc is a United States-based commercial-stage medical device company focused on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. The Company’s product, Obalon balloon system, is a swallowable, gas-filled intragastric balloon designed to provide weight loss in obese patients.
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