Obalon Therapeutics (NASDAQ:OBLN) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Obalon Therapeutics (NASDAQ:OBLN) from a hold rating to a buy rating in a research report report published on Tuesday morning, Zacks.com reports. They currently have $2.00 target price on the stock.

According to Zacks, “Obalon Therapeutics, Inc. is a medical device company. It focused on developing and commercializing medical devices to treat obese and overweight. The company’s product consists of Obalon balloon system, the first swallowable, gas-filled intragastric balloon designed to provide progressive and sustained weight loss in obese patients. Obalon Therapeutics, Inc. is based in San Diego, California. “

OBLN opened at $1.85 on Tuesday. The company has a quick ratio of 5.20, a current ratio of 5.72 and a debt-to-equity ratio of 0.03. The stock has a market cap of $14.30 million, a price-to-earnings ratio of -0.17 and a beta of -4.63. Obalon Therapeutics has a twelve month low of $1.52 and a twelve month high of $23.30. The company’s 50-day moving average price is $1.85 and its two-hundred day moving average price is $2.06.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OBLN. Jane Street Group LLC bought a new stake in shares of Obalon Therapeutics in the second quarter valued at approximately $33,000. Perkins Capital Management Inc. bought a new stake in shares of Obalon Therapeutics in the third quarter valued at approximately $58,000. Oxford Asset Management LLP bought a new stake in shares of Obalon Therapeutics in the fourth quarter valued at approximately $81,000. Cerity Partners LLC bought a new stake in shares of Obalon Therapeutics in the third quarter valued at approximately $301,000. Finally, Moisand Fitzgerald Tamayo LLC bought a new stake in shares of Obalon Therapeutics in the third quarter valued at approximately $316,000. Hedge funds and other institutional investors own 20.00% of the company’s stock.

About Obalon Therapeutics

Obalon Therapeutics, Inc, a vertically integrated medical device company, focuses on developing and commercializing medical devices to treat people who are obese and overweight. The company offers the Obalon balloon system designed to provide weight loss in obese patients. Obalon Therapeutics, Inc was founded in 2008 and is headquartered in Carlsbad, California.

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