Apollo Endosurgery (NASDAQ:APEN) Downgraded by Zacks Investment Research
According to Zacks, “Apollo Endosurgery, Inc. is engaged in designing and manufacturing of medical devices for weight loss solutions and gastrointestinal disorders. The Company’s product segment includes ORBERA (R), LAP-BAND (R) and OverStitch(TM). The ORBERA is an Intragastric Balloon System which is a weight loss aid for adults suffering from obesity. The LAP-BAND System is developed for weight reduction for patients with obesity. The OverStitch Endoscopic Suturing System enables endoscopic surgery. It operates primarily in Asia Pacific, European Office, Latin and South America and Costa Rica. Apollo Endosurgery, Inc., formerly known as Lpath, Inc., is headquatered in Austin, Texas. “
Separately, ValuEngine upgraded shares of Apollo Endosurgery from a hold rating to a buy rating in a report on Thursday, August 1st.
Apollo Endosurgery (NASDAQ:APEN) last posted its quarterly earnings results on Tuesday, July 23rd. The biotechnology company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.05). Apollo Endosurgery had a negative net margin of 69.89% and a negative return on equity of 126.08%. The company had revenue of $14.25 million for the quarter, compared to analysts’ expectations of $13.54 million. Equities research analysts anticipate that Apollo Endosurgery will post -1.55 EPS for the current year.
Several institutional investors have recently bought and sold shares of the company. Gagnon Securities LLC grew its holdings in shares of Apollo Endosurgery by 11.1% during the 2nd quarter. Gagnon Securities LLC now owns 959,013 shares of the biotechnology company’s stock valued at $3,117,000 after acquiring an additional 95,853 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Apollo Endosurgery by 60.6% during the 2nd quarter. Vanguard Group Inc. now owns 411,327 shares of the biotechnology company’s stock valued at $1,337,000 after acquiring an additional 155,263 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Apollo Endosurgery by 42.4% during the 2nd quarter. BlackRock Inc. now owns 37,737 shares of the biotechnology company’s stock valued at $122,000 after acquiring an additional 11,229 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Apollo Endosurgery during the 4th quarter valued at $41,000. Institutional investors and hedge funds own 44.30% of the company’s stock.
About Apollo Endosurgery
Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices. Its products include OverStitch and OverStitch Sx Endoscopic Suturing System that enables advanced endoscopic procedures by allowing physicians to place full thickness sutures and secure the approximation of tissue through a flexible endoscope; Orbera365 Managed Weight Loss System; and the BIB for the treatment of overweight and obese adults.
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