Obalon Therptcs (NASDAQ:OBLN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “Obalon Therapeutics, Inc. is a medical device company. It focused on developing and commercializing medical devices to treat obese and overweight. The company’s product consists of Obalon balloon system, the first swallowable, gas-filled intragastric balloon designed to provide progressive and sustained weight loss in obese patients. Obalon Therapeutics, Inc. is based in San Diego, California. “

Several other brokerages have also recently weighed in on OBLN. Northland Securities reiterated a “sell” rating and issued a $4.00 price objective on shares of Obalon Therptcs in a research note on Friday, November 3rd. UBS AG reiterated a “buy” rating and issued a $20.00 price objective (down previously from $22.00) on shares of Obalon Therptcs in a research note on Wednesday, August 9th. Finally, BTIG Research dropped their price objective on shares of Obalon Therptcs from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $13.00.

Shares of Obalon Therptcs (NASDAQ OBLN) opened at $7.78 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 8.65 and a current ratio of 8.78. Obalon Therptcs has a 12 month low of $7.70 and a 12 month high of $13.18.

Obalon Therptcs (NASDAQ:OBLN) last posted its earnings results on Friday, November 3rd. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.12). The company had revenue of $2.79 million for the quarter, compared to analyst estimates of $2.95 million. Obalon Therptcs had a negative return on equity of 59.77% and a negative net margin of 459.54%. research analysts forecast that Obalon Therptcs will post -1.96 earnings per share for the current fiscal year.

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A number of institutional investors have recently modified their holdings of OBLN. William Blair Investment Management LLC raised its stake in Obalon Therptcs by 168.9% in the 2nd quarter. William Blair Investment Management LLC now owns 329,643 shares of the company’s stock worth $3,267,000 after purchasing an additional 207,041 shares in the last quarter. Granite Investment Partners LLC acquired a new position in shares of Obalon Therptcs in the 3rd quarter valued at approximately $1,036,000. Northern Trust Corp raised its position in shares of Obalon Therptcs by 109.8% in the 2nd quarter. Northern Trust Corp now owns 92,237 shares of the company’s stock valued at $914,000 after buying an additional 48,268 shares in the last quarter. C WorldWide Group Holding A S raised its position in shares of Obalon Therptcs by 22.8% in the 2nd quarter. C WorldWide Group Holding A S now owns 242,893 shares of the company’s stock valued at $2,407,000 after buying an additional 45,088 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its position in shares of Obalon Therptcs by 89.4% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 63,171 shares of the company’s stock valued at $602,000 after buying an additional 29,818 shares in the last quarter. Institutional investors and hedge funds own 43.65% of the company’s stock.

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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