Obalon Therapeutics Inc was Downgraded to a Hold Rating at Stifel Nicolaus

Stifel Nicolaus analyst Rick Wise downgraded Obalon Therapeutics Inc (NASDAQ: OBLN) to Hold today. The company’s shares closed on Friday at $2.85, close to its 52-week low of $2.75.

According to TipRanks.com, Wise is a 5-star analyst with an average return of 11.2% and a 69.6% success rate. Wise covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Zimmer Biomet Holdings, and Baxter International.

Obalon Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $5.25.

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Based on Obalon Therapeutics Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $12.13 million. In comparison, last year the company had a GAAP net loss of $7.75 million.

Based on the recent corporate insider activity of 14 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.

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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.