Northland Securities analyst Suraj Kalia maintained a Hold rating on Obalon Therapeutics Inc (OBLN) yesterday and set a price target of $2. The company’s shares closed yesterday at $2.14.
Kalia commented:
“We are accordingly tweaking our numbers down for FY19. This is a story in transition and our concerns on the sustainability of this story, especially from a liquidity perspective are mounting. Key Points Some metrics provided were: 1) U.S. revs @ $800,000 as % of total = 40%; down from 61% in of starter kit sales were 10 vs 12 in Total U.S. revenues for reorder kits were 91% of sales vs. 79% in Percent change and new patient starts in Q4-18 were not provided.”
According to TipRanks.com, Kalia is a 5-star analyst with an average return of 13.8% and a 59.9% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Strata Skin Sciences Inc, and Apollo Endosurgery Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Obalon Therapeutics Inc with a $2.75 average price target, which is a 28.5% upside from current levels. In a report released today, Roth Capital also downgraded the stock to Hold with a $2.75 price target.
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Based on Obalon Therapeutics Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $6.75 million. In comparison, last year the company had a GAAP net loss of $10.12 million.
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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.
