Wall Street brokerages forecast that OBALON THERPTCS (NASDAQ:OBLN) will report sales of $2.95 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for OBALON THERPTCS’s earnings. The highest sales estimate is $3.31 million and the lowest is $2.60 million. OBALON THERPTCS posted sales of $770,000.00 during the same quarter last year, which would indicate a positive year-over-year growth rate of 283.1%. The business is expected to issue its next quarterly earnings report on Friday, November 10th.

According to Zacks, analysts expect that OBALON THERPTCS will report full-year sales of $2.95 million for the current year, with estimates ranging from $9.40 million to $10.37 million. For the next financial year, analysts expect that the firm will post sales of $21.34 million per share, with estimates ranging from $18.19 million to $24.50 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow OBALON THERPTCS.

OBALON THERPTCS (NASDAQ:OBLN) last posted its earnings results on Wednesday, August 2nd. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.03). OBALON THERPTCS had a negative net margin of 566.87% and a negative return on equity of 108.07%. The business had revenue of $1.96 million during the quarter, compared to analysts’ expectations of $1.77 million.

Several research analysts recently commented on OBLN shares. Northland Securities started coverage on OBALON THERPTCS in a research note on Wednesday, June 21st. They issued an “under perform” rating and a $6.00 price objective for the company. UBS AG reissued a “buy” rating and issued a $20.00 price objective (down from $22.00) on shares of OBALON THERPTCS in a research note on Thursday, August 3rd. Finally, Zacks Investment Research downgraded OBALON THERPTCS from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $16.20.

A number of hedge funds and other institutional investors have recently bought and sold shares of OBLN. UBS Group AG raised its stake in OBALON THERPTCS by 90.8% in the 1st quarter. UBS Group AG now owns 11,856 shares of the company’s stock valued at $127,000 after purchasing an additional 5,641 shares during the last quarter. Blair William & Co. IL purchased a new stake in OBALON THERPTCS in the 2nd quarter valued at $134,000. California State Teachers Retirement System grew its holdings in OBALON THERPTCS by 53.5% in the 2nd quarter. California State Teachers Retirement System now owns 15,200 shares of the company’s stock valued at $151,000 after buying an additional 5,300 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in OBALON THERPTCS in the 1st quarter valued at $168,000. Finally, Teachers Advisors LLC grew its holdings in OBALON THERPTCS by 235.7% in the 2nd quarter. Teachers Advisors LLC now owns 17,621 shares of the company’s stock valued at $175,000 after buying an additional 12,372 shares in the last quarter. 44.97% of the stock is owned by hedge funds and other institutional investors.

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OBALON THERPTCS (NASDAQ:OBLN) opened at 9.62 on Friday. The stock’s market capitalization is $161.85 million. OBALON THERPTCS has a 12-month low of $8.27 and a 12-month high of $14.57. The company has a 50 day moving average of $9.87 and a 200-day moving average of $9.87.

About OBALON THERPTCS

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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