In a report released today, Suraj Kalia from Northland Securities maintained a Hold rating on Obalon Therapeutics Inc (NASDAQ: OBLN), with a price target of $2. The company’s shares opened today at $2.19, close to its 52-week low of $1.46.
According to TipRanks.com, Kalia is a 5-star analyst with an average return of 12.3% and a 60.0% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Apollo Endosurgery Inc, Edwards Lifesciences, and Irhythm Technologies.
Currently, the analyst consensus on Obalon Therapeutics Inc is a Moderate Buy with an average price target of $3.50.
See today’s analyst top recommended stocks >>
Based on Obalon Therapeutics Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $9.75 million. In comparison, last year the company had a GAAP net loss of $9.17 million.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OBLN in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Obalon Therapeutics, Inc. focuses on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. Its product includes medical balloon technology for weight loss therapy which consists of a capsule containing a balloon that is swallowed and then remotely inflated.
