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Obalon Therapeutics Inc (OBLN) Receives a Hold from Northland Securities


Northland Securities analyst Suraj Kalia maintained a Hold rating on Obalon Therapeutics Inc (NASDAQ: OBLN) yesterday and set a price target of $2.50. The company’s shares opened today at $3.44.

Kalia said:

“We are tweaking our PT to $2.50, but maintain our Neutral stance.”

According to TipRanks.com, Kalia is a 5-star analyst with an average return of 16.1% and a 62.6% 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, which is a -12.8% downside from current levels. In a report released yesterday, Stifel Nicolaus also maintained a Hold rating on the stock with a $3.50 price target.

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The company has a one-year high of $10.40 and a one-year low of $1.46. Currently, Obalon Therapeutics Inc has an average volume of 194.5K.

Based on the recent corporate insider activity of 37 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.