Equities research analysts forecast that Apollo Endosurgery Inc (NASDAQ:APEN) will report $16.00 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Apollo Endosurgery’s earnings. The highest sales estimate is $16.69 million and the lowest is $15.47 million. Apollo Endosurgery posted sales of $14.62 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.4%. The firm is scheduled to announce its next earnings report on Thursday, May 3rd.
On average, analysts expect that Apollo Endosurgery will report full year sales of $16.00 million for the current fiscal year, with estimates ranging from $67.20 million to $70.23 million. For the next financial year, analysts forecast that the company will report sales of $77.09 million per share, with estimates ranging from $71.73 million to $80.83 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Apollo Endosurgery.
A number of brokerages have recently weighed in on APEN. Zacks Investment Research downgraded shares of Apollo Endosurgery from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Northland Securities reaffirmed a “buy” rating and set a $12.00 price target on shares of Apollo Endosurgery in a report on Thursday, February 8th. ValuEngine raised shares of Apollo Endosurgery from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 3rd. Finally, Roth Capital set a $10.00 price target on shares of Apollo Endosurgery and gave the stock a “buy” rating in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $9.44.
In other news, major shareholder Stonepine Capital, L.P. purchased 45,434 shares of the business’s stock in a transaction dated Wednesday, December 20th. The stock was bought at an average price of $4.50 per share, with a total value of $204,453.00. Following the acquisition, the insider now owns 2,410,141 shares in the company, valued at approximately $10,845,634.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have bought 263,886 shares of company stock valued at $1,288,051. 74.20% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new position in Apollo Endosurgery during the 4th quarter worth approximately $126,000. JPMorgan Chase & Co. acquired a new position in Apollo Endosurgery during the 3rd quarter worth approximately $119,000. Ardsley Advisory Partners increased its position in Apollo Endosurgery by 53.2% during the 4th quarter. Ardsley Advisory Partners now owns 28,800 shares of the biotechnology company’s stock worth $161,000 after purchasing an additional 10,000 shares in the last quarter. Woodmont Investment Counsel LLC acquired a new position in Apollo Endosurgery during the 3rd quarter worth approximately $220,000. Finally, Russell Investments Group Ltd. acquired a new position in Apollo Endosurgery during the 3rd quarter worth approximately $1,288,000. Institutional investors and hedge funds own 31.27% of the company’s stock.
Apollo Endosurgery Company Profile
Apollo Endosurgery, Inc, formerly Lpath, Inc, is a medical device company. The Company is focused on less invasive therapies for the treatment of obesity, as well as other gastrointestinal disorders. The Company’s device-based therapies are an alternative to invasive surgical procedures. The Company offers products in over 80 countries.
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