Analysts predict that Obalon Therapeutics Inc (NASDAQ:OBLN) will announce ($0.36) earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Obalon Therapeutics’ earnings. The highest EPS estimate is ($0.28) and the lowest is ($0.44). Obalon Therapeutics reported earnings per share of ($0.71) during the same quarter last year, which indicates a positive year-over-year growth rate of 49.3%. The company is scheduled to report its next earnings report on Thursday, May 16th.

According to Zacks, analysts expect that Obalon Therapeutics will report full-year earnings of ($1.26) per share for the current financial year, with EPS estimates ranging from ($1.66) to ($0.82). For the next fiscal year, analysts forecast that the firm will report earnings of ($1.27) per share, with EPS estimates ranging from ($1.83) to ($0.40). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Obalon Therapeutics.

Obalon Therapeutics (NASDAQ:OBLN) last announced its earnings results on Friday, February 22nd. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.08). The company had revenue of $2.04 million for the quarter, compared to the consensus estimate of $2.10 million. Obalon Therapeutics had a negative return on equity of 100.59% and a negative net margin of 147.30%.

OBLN has been the subject of a number of recent analyst reports. Zacks Investment Research raised Obalon Therapeutics from a “hold” rating to a “buy” rating and set a $1.75 target price for the company in a research report on Thursday, March 28th. Stifel Nicolaus raised Obalon Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the stock from $2.50 to $3.00 in a research report on Monday, February 25th. Roth Capital reissued a “buy” rating on shares of Obalon Therapeutics in a research report on Tuesday, February 5th. Northland Securities reissued a “hold” rating and issued a $1.00 price objective on shares of Obalon Therapeutics in a research report on Thursday, April 11th. Finally, Canaccord Genuity cut Obalon Therapeutics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $3.00 to $1.50 in a research report on Monday, April 8th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Obalon Therapeutics has an average rating of “Buy” and an average price target of $2.04.

Several institutional investors and hedge funds have recently bought and sold shares of OBLN. Bank of New York Mellon Corp bought a new stake in shares of Obalon Therapeutics in the fourth quarter valued at approximately $29,000. BlackRock Inc. boosted its position in shares of Obalon Therapeutics by 31.8% in the fourth quarter. BlackRock Inc. now owns 33,727 shares of the company’s stock valued at $70,000 after acquiring an additional 8,142 shares during the period. Geode Capital Management LLC bought a new stake in shares of Obalon Therapeutics in the fourth quarter valued at approximately $137,000. Renaissance Technologies LLC boosted its position in shares of Obalon Therapeutics by 43.2% in the third quarter. Renaissance Technologies LLC now owns 81,200 shares of the company’s stock valued at $219,000 after acquiring an additional 24,500 shares during the period. Finally, Vanguard Group Inc boosted its position in shares of Obalon Therapeutics by 1.6% in the third quarter. Vanguard Group Inc now owns 444,050 shares of the company’s stock valued at $1,199,000 after acquiring an additional 6,900 shares during the period. 28.00% of the stock is owned by institutional investors.

Obalon Therapeutics stock traded down $0.01 during trading hours on Friday, reaching $0.47. 2,053 shares of the company were exchanged, compared to its average volume of 397,775. The stock has a market capitalization of $11.16 million, a P/E ratio of -0.25 and a beta of -1.49. The company has a quick ratio of 1.57, a current ratio of 1.20 and a debt-to-equity ratio of 0.13. Obalon Therapeutics has a 12 month low of $0.40 and a 12 month high of $3.70.

Obalon Therapeutics Company Profile

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.

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