Apollo Endosurgery (NASDAQ:APEN) Downgraded by Zacks Investment Research

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Zacks Investment Research downgraded shares of Apollo Endosurgery (NASDAQ:APEN) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Apollo Endosurgery, Inc. is engaged in designing and manufacturing of medical devices for weight loss solutions and gastrointestinal disorders. The Company’s product segment includes ORBERA (R), LAP-BAND (R) and OverStitch(TM). The ORBERA is an Intragastric Balloon System which is a weight loss aid for adults suffering from obesity. The LAP-BAND System is developed for weight reduction for patients with obesity. The OverStitch Endoscopic Suturing System enables endoscopic surgery. It operates primarily in Asia Pacific, European Office, Latin and South America and Costa Rica. Apollo Endosurgery, Inc., formerly known as Lpath, Inc., is headquatered in Austin, Texas. “

Separately, ValuEngine raised Apollo Endosurgery from a hold rating to a buy rating in a report on Thursday, August 1st.

APEN opened at $3.79 on Tuesday. Apollo Endosurgery has a 12-month low of $2.52 and a 12-month high of $7.32. The stock’s 50 day moving average price is $3.25 and its two-hundred day moving average price is $3.39. The company has a quick ratio of 1.74, a current ratio of 2.24 and a debt-to-equity ratio of 1.88.

Apollo Endosurgery (NASDAQ:APEN) last announced its quarterly earnings data on Tuesday, July 23rd. The biotechnology company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.05). Apollo Endosurgery had a negative return on equity of 126.08% and a negative net margin of 69.89%. The firm had revenue of $14.25 million for the quarter, compared to analyst estimates of $13.54 million. On average, sell-side analysts anticipate that Apollo Endosurgery will post -1.55 EPS for the current year.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Apollo Endosurgery by 42.4% in the 2nd quarter. BlackRock Inc. now owns 37,737 shares of the biotechnology company’s stock valued at $122,000 after buying an additional 11,229 shares in the last quarter. Vanguard Group Inc. boosted its stake in Apollo Endosurgery by 60.6% in the 2nd quarter. Vanguard Group Inc. now owns 411,327 shares of the biotechnology company’s stock valued at $1,337,000 after buying an additional 155,263 shares in the last quarter. Finally, Gagnon Securities LLC boosted its stake in Apollo Endosurgery by 11.1% in the 2nd quarter. Gagnon Securities LLC now owns 959,013 shares of the biotechnology company’s stock valued at $3,117,000 after buying an additional 95,853 shares in the last quarter. 44.30% of the stock is currently owned by institutional investors.

Apollo Endosurgery Company Profile

Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices. Its products include OverStitch and OverStitch Sx Endoscopic Suturing System that enables advanced endoscopic procedures by allowing physicians to place full thickness sutures and secure the approximation of tissue through a flexible endoscope; Orbera365 Managed Weight Loss System; and the BIB for the treatment of overweight and obese adults.

See Also: Earnings Per Share (EPS)

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