Obalon Therapeutics Inc (OBLN) Expected to Post Quarterly Sales of $3.55 Million

Analysts expect Obalon Therapeutics Inc (NASDAQ:OBLN) to announce $3.55 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Obalon Therapeutics’ earnings, with the highest sales estimate coming in at $3.90 million and the lowest estimate coming in at $3.20 million. Obalon Therapeutics reported sales of $1.47 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 141.5%. The firm is expected to report its next quarterly earnings report on Wednesday, May 9th.

According to Zacks, analysts expect that Obalon Therapeutics will report full-year sales of $3.55 million for the current financial year, with estimates ranging from $16.43 million to $16.90 million. For the next financial year, analysts expect that the firm will report sales of $24.89 million per share, with estimates ranging from $21.87 million to $27.90 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Obalon Therapeutics.

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Obalon Therapeutics (NASDAQ:OBLN) last announced its earnings results on Monday, March 5th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.12). Obalon Therapeutics had a negative net margin of 350.67% and a negative return on equity of 74.80%. The business had revenue of $3.69 million during the quarter, compared to analysts’ expectations of $3.88 million.

A number of brokerages have recently commented on OBLN. Northland Securities raised shares of Obalon Therapeutics from an “underperform” rating to a “market perform” rating in a report on Thursday, January 25th. Zacks Investment Research cut shares of Obalon Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, March 8th. Stifel Nicolaus reissued a “buy” rating on shares of Obalon Therapeutics in a report on Tuesday, March 6th. BTIG Research cut their price target on shares of Obalon Therapeutics to $7.00 and set a “buy” rating for the company in a report on Tuesday, March 6th. Finally, Canaccord Genuity reissued a “buy” rating and set a $10.00 price target (down from $11.00) on shares of Obalon Therapeutics in a report on Tuesday, March 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $8.40.

In other news, CFO William J. Plovanic purchased 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The stock was purchased at an average cost of $4.04 per share, with a total value of $121,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 16.40% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System grew its position in Obalon Therapeutics by 53.5% during the second quarter. California State Teachers Retirement System now owns 15,200 shares of the company’s stock worth $151,000 after buying an additional 5,300 shares during the period. Teachers Advisors LLC grew its position in Obalon Therapeutics by 235.7% during the second quarter. Teachers Advisors LLC now owns 17,621 shares of the company’s stock worth $175,000 after buying an additional 12,372 shares during the period. Deutsche Bank AG grew its position in Obalon Therapeutics by 170.4% during the fourth quarter. Deutsche Bank AG now owns 21,120 shares of the company’s stock worth $138,000 after buying an additional 13,309 shares during the period. TIAA CREF Investment Management LLC grew its position in Obalon Therapeutics by 511.8% during the second quarter. TIAA CREF Investment Management LLC now owns 23,577 shares of the company’s stock worth $234,000 after buying an additional 19,723 shares during the period. Finally, State Street Corp grew its position in Obalon Therapeutics by 66.1% during the second quarter. State Street Corp now owns 71,242 shares of the company’s stock worth $705,000 after buying an additional 28,356 shares during the period. Institutional investors own 42.65% of the company’s stock.

Shares of Obalon Therapeutics (NASDAQ OBLN) traded up $0.01 during trading hours on Friday, hitting $3.54. 31,682 shares of the stock were exchanged, compared to its average volume of 281,226. Obalon Therapeutics has a 1-year low of $3.40 and a 1-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 5.03.

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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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