Northland Securities downgraded shares of Apollo Endosurgery (NASDAQ:APEN) from a market perform rating to an under perform rating in a research report report published on Friday morning, Marketbeat reports. They currently have $3.00 target price on the biotechnology company’s stock, down from their previous target price of $7.00.

APEN has been the subject of a number of other research reports. ValuEngine raised shares of Apollo Endosurgery from a hold rating to a buy rating in a research report on Thursday, July 12th. Roth Capital reissued a neutral rating and set a $9.50 target price on shares of Apollo Endosurgery in a research report on Tuesday, July 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $6.83.

Apollo Endosurgery stock traded down $1.80 on Friday, reaching $3.95. 374,349 shares of the stock were exchanged, compared to its average volume of 52,392. The firm has a market cap of $133.68 million, a price-to-earnings ratio of -1.97 and a beta of 0.34. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.87 and a quick ratio of 2.18. Apollo Endosurgery has a twelve month low of $3.66 and a twelve month high of $9.65.

Apollo Endosurgery (NASDAQ:APEN) last released its earnings results on Thursday, November 8th. The biotechnology company reported ($0.45) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.11). The firm had revenue of $14.14 million for the quarter, compared to analyst estimates of $16.21 million. Apollo Endosurgery had a negative return on equity of 58.61% and a negative net margin of 46.55%. As a group, sell-side analysts expect that Apollo Endosurgery will post -1.65 earnings per share for the current year.

In related news, major shareholder Stonepine Capital, L.P. acquired 300,000 shares of the business’s stock in a transaction dated Friday, November 2nd. The stock was acquired at an average price of $5.00 per share, with a total value of $1,500,000.00. Following the completion of the transaction, the insider now owns 2,877,996 shares of the company’s stock, valued at $14,389,980. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 52.80% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. EAM Investors LLC acquired a new position in shares of Apollo Endosurgery during the third quarter valued at about $626,000. JPMorgan Chase & Co. raised its position in shares of Apollo Endosurgery by 411.1% during the third quarter. JPMorgan Chase & Co. now owns 58,427 shares of the biotechnology company’s stock valued at $419,000 after buying an additional 46,995 shares during the last quarter. Ardsley Advisory Partners raised its position in shares of Apollo Endosurgery by 25.0% during the second quarter. Ardsley Advisory Partners now owns 50,000 shares of the biotechnology company’s stock valued at $349,000 after buying an additional 10,000 shares during the last quarter. Manatuck Hill Partners LLC acquired a new position in shares of Apollo Endosurgery during the second quarter valued at about $1,222,000. Finally, Nantahala Capital Management LLC acquired a new position in shares of Apollo Endosurgery during the second quarter valued at about $4,537,000. 38.93% of the stock is owned by institutional investors and hedge funds.

About Apollo Endosurgery

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.

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