Canaccord Genuity analyst Kyle Rose maintained a Hold rating on Obalon Therapeutics (OBLN) yesterday and set a price target of $4.00. The company’s shares closed last Monday at $1.36, close to its 52-week low of $1.35.
According to TipRanks.com, Rose is a 4-star analyst with an average return of 6.5% and a 48.4% success rate. Rose covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Smith & Nephew Snats, and SeaSpine Holdings.
Obalon Therapeutics has an analyst consensus of Hold, with a price target consensus of $4.00.
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Based on Obalon Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $4.91 million. In comparison, last year the company had a GAAP net loss of $8.76 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.
