Several other research analysts also recently weighed in on OBLN. Zacks Investment Research downgraded Obalon Therapeutics from a hold rating to a sell rating in a research note on Wednesday, November 8th. UBS Group dropped their price target on Obalon Therapeutics from $20.00 to $16.00 and set a buy rating on the stock in a research note on Friday, November 10th. Canaccord Genuity reiterated a buy rating and set a $11.00 price target (down previously from $15.00) on shares of Obalon Therapeutics in a research note on Monday, January 22nd. They noted that the move was a valuation call. Finally, Northland Securities reiterated a sell rating and set a $4.00 price target on shares of Obalon Therapeutics in a research note on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $8.40.
Obalon Therapeutics (NASDAQ OBLN) opened at $4.26 on Tuesday. Obalon Therapeutics has a one year low of $3.40 and a one year high of $13.18. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.17 and a quick ratio of 8.65.
A number of institutional investors have recently bought and sold shares of OBLN. Schwab Charles Investment Management Inc. purchased a new stake in Obalon Therapeutics during the 2nd quarter valued at about $175,000. Teachers Advisors LLC grew its stake in Obalon Therapeutics by 235.7% during the 2nd quarter. Teachers Advisors LLC now owns 17,621 shares of the company’s stock valued at $175,000 after purchasing an additional 12,372 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in Obalon Therapeutics by 511.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 23,577 shares of the company’s stock valued at $234,000 after purchasing an additional 19,723 shares during the last quarter. Northern Trust Corp grew its stake in Obalon Therapeutics by 109.8% during the 2nd quarter. Northern Trust Corp now owns 92,237 shares of the company’s stock valued at $914,000 after purchasing an additional 48,268 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Obalon Therapeutics by 8.3% during the 2nd quarter. Vanguard Group Inc. now owns 170,266 shares of the company’s stock valued at $1,687,000 after purchasing an additional 13,108 shares during the last quarter. Institutional investors and hedge funds own 32.91% of the company’s stock.
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About Obalon Therapeutics
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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