Obalon Therapeutics (NASDAQ:OBLN) Stock Rating Upgraded by Zacks Investment Research

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Zacks Investment Research upgraded shares of Obalon Therapeutics (NASDAQ:OBLN) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. The brokerage currently has $2.00 price target on the stock.

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. “

Shares of Obalon Therapeutics stock opened at $1.85 on Tuesday. Obalon Therapeutics has a 52-week low of $1.52 and a 52-week high of $23.30. The stock has a market capitalization of $14.30 million, a price-to-earnings ratio of -0.17 and a beta of -4.63. The company has a fifty day moving average of $1.85 and a 200-day moving average of $2.06. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.20 and a current ratio of 5.72.

A number of institutional investors and hedge funds have recently made changes to their positions in OBLN. Jane Street Group LLC purchased a new stake in Obalon Therapeutics during the 2nd quarter valued at $33,000. Perkins Capital Management Inc. purchased a new stake in Obalon Therapeutics during the 3rd quarter valued at $58,000. Oxford Asset Management LLP purchased a new stake in Obalon Therapeutics during the 4th quarter valued at $81,000. Cerity Partners LLC purchased a new stake in Obalon Therapeutics during the 3rd quarter valued at $301,000. Finally, Moisand Fitzgerald Tamayo LLC purchased a new stake in Obalon Therapeutics during the 3rd quarter valued at $316,000. 20.00% of the stock is owned by institutional investors and hedge funds.

About Obalon Therapeutics

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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