Piper Jaffray began coverage on shares of Apollo Endosurgery (NASDAQ:APEN) in a research note published on Friday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $8.00 target price on the biotechnology company’s stock.

Several other brokerages also recently weighed in on APEN. Roth Capital set a $10.00 price target on Apollo Endosurgery and gave the stock a buy rating in a report on Thursday, January 4th. Zacks Investment Research downgraded Apollo Endosurgery from a buy rating to a hold rating in a report on Wednesday, December 27th. Northland Securities restated a buy rating and set a $12.00 price target on shares of Apollo Endosurgery in a report on Thursday, February 8th. Finally, ValuEngine upgraded Apollo Endosurgery from a strong sell rating to a sell rating in a report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $9.15.

How to Become a New Pot Stock Millionaire

APEN stock opened at $5.87 on Friday. The company has a current ratio of 2.23, a quick ratio of 1.68 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $102.28, a P/E ratio of -2.92 and a beta of 0.34. Apollo Endosurgery has a 12-month low of $3.55 and a 12-month high of $12.56.

Apollo Endosurgery (NASDAQ:APEN) last posted its quarterly earnings data on Thursday, March 1st. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.08). The firm had revenue of $16.14 million during the quarter, compared to analysts’ expectations of $16.64 million. Apollo Endosurgery had a negative net margin of 42.35% and a negative return on equity of 64.48%. research analysts expect that Apollo Endosurgery will post -1.44 EPS for the current year.

In related news, Director Matthew S. Crawford purchased 4,038 shares of the business’s stock in a transaction on Friday, March 9th. The shares were bought at an average price of $6.20 per share, for a total transaction of $25,035.60. Following the acquisition, the director now directly owns 53,715 shares in the company, valued at $333,033. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 52.80% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Stonepine Capital Management LLC increased its holdings in Apollo Endosurgery by 8.3% during the 4th quarter. Stonepine Capital Management LLC now owns 2,560,314 shares of the biotechnology company’s stock worth $14,338,000 after purchasing an additional 195,607 shares during the period. Russell Investments Group Ltd. purchased a new stake in Apollo Endosurgery during the 3rd quarter worth about $1,288,000. Ardsley Advisory Partners increased its holdings 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 during the period. JPMorgan Chase & Co. purchased a new stake in Apollo Endosurgery during the 3rd quarter worth about $119,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Apollo Endosurgery in the 4th quarter valued at about $126,000. Institutional investors own 31.20% of the company’s stock.

WARNING: “Piper Jaffray Initiates Coverage on Apollo Endosurgery (APEN)” was originally reported by Daily Political and is owned by of Daily Political. If you are viewing this news story on another website, it was stolen and republished in violation of US & international copyright & trademark laws. The correct version of this news story can be accessed at https://www.dailypolitical.com/2018/04/17/piper-jaffray-initiates-coverage-on-apollo-endosurgery-apen.html.

Apollo Endosurgery Company Profile

Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices for the treatment of obesity. The company offers endo-bariatric products, such as Orbera intragastric balloon system and Orbera365 Managed Weight Loss System, which are non-surgical alternatives for the treatment of overweight and obese adults; and OverStitch endoscopic suturing system that enables endoscopic procedures by allowing physicians to place full-thickness sutures and secure the approximation of tissue through flexible endoscope.

Receive News & Ratings for Apollo Endosurgery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Endosurgery and related companies with MarketBeat.com's FREE daily email newsletter.