Equities analysts predict that Obalon Therapeutics Inc (NASDAQ:OBLN) will announce sales of $1.74 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Obalon Therapeutics’ earnings, with estimates ranging from $1.70 million to $1.77 million. Obalon Therapeutics posted sales of $1.35 million in the same quarter last year, which would indicate a positive year over year growth rate of 28.9%. The company is expected to issue its next earnings report on Thursday, June 6th.

On average, analysts expect that Obalon Therapeutics will report full-year sales of $9.03 million for the current financial year, with estimates ranging from $7.09 million to $11.60 million. For the next financial year, analysts expect that the business will report sales of $12.16 million, with estimates ranging from $10.58 million to $14.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Obalon Therapeutics.

A number of analysts have recently weighed in on the stock. Canaccord Genuity downgraded shares of Obalon Therapeutics from a “buy” rating to a “hold” rating and reduced their target price for the stock from $3.00 to $1.50 in a research report on Monday, April 8th. Zacks Investment Research downgraded shares of Obalon Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Stifel Nicolaus raised shares of Obalon Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the stock from $2.50 to $3.00 in a research report on Monday, February 25th. Roth Capital reiterated a “buy” rating on shares of Obalon Therapeutics in a research note on Tuesday, February 5th. Finally, Northland Securities reiterated a “hold” rating and issued a $1.00 price target on shares of Obalon Therapeutics in a research note on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Obalon Therapeutics has a consensus rating of “Hold” and a consensus target price of $2.04.

NASDAQ:OBLN opened at $1.28 on Tuesday. The stock has a market capitalization of $30.72 million, a PE ratio of -0.65 and a beta of -5.19. The company has a current ratio of 1.20, a quick ratio of 1.12 and a debt-to-equity ratio of 0.13. Obalon Therapeutics has a 1-year low of $0.37 and a 1-year high of $3.70.

A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new position in Obalon Therapeutics during the 4th quarter valued at about $29,000. BlackRock Inc. lifted its stake in Obalon Therapeutics by 31.8% during the 4th quarter. BlackRock Inc. now owns 33,727 shares of the company’s stock valued at $70,000 after acquiring an additional 8,142 shares during the period. Geode Capital Management LLC bought a new position in Obalon Therapeutics during the 4th quarter valued at about $137,000. Renaissance Technologies LLC lifted its stake in Obalon Therapeutics by 43.2% during the 3rd quarter. Renaissance Technologies LLC now owns 81,200 shares of the company’s stock valued at $219,000 after acquiring an additional 24,500 shares during the period. Finally, Vanguard Group Inc lifted its stake in Obalon Therapeutics by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 444,050 shares of the company’s stock valued at $1,199,000 after acquiring an additional 6,900 shares during the period. Institutional investors own 28.46% of the company’s stock.

Obalon Therapeutics Company Profile

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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