Zacks: Analysts Anticipate Apollo Endosurgery Inc (APEN) to Announce -$0.35 EPS

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Wall Street analysts predict that Apollo Endosurgery Inc (NASDAQ:APEN) will announce earnings of ($0.35) per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Apollo Endosurgery’s earnings, with the lowest EPS estimate coming in at ($0.41) and the highest estimate coming in at ($0.28). Apollo Endosurgery reported earnings of ($0.42) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 16.7%. The business is expected to issue its next earnings report on Thursday, March 7th.

According to Zacks, analysts expect that Apollo Endosurgery will report full year earnings of ($1.78) per share for the current fiscal year, with EPS estimates ranging from ($1.84) to ($1.70). For the next fiscal year, analysts anticipate that the business will report earnings of ($1.17) per share, with EPS estimates ranging from ($1.25) to ($1.07). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Apollo Endosurgery.

Apollo Endosurgery (NASDAQ:APEN) last released its quarterly earnings data on Thursday, November 8th. The biotechnology company reported ($0.45) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.11). Apollo Endosurgery had a negative net margin of 56.22% and a negative return on equity of 71.73%. The company had revenue of $14.14 million during the quarter, compared to analyst estimates of $16.21 million.

APEN has been the topic of several research reports. Roth Capital set a $4.00 price objective on shares of Apollo Endosurgery and gave the company a “hold” rating in a report on Monday, November 12th. Zacks Investment Research downgraded shares of Apollo Endosurgery from a “hold” rating to a “sell” rating in a research note on Tuesday, November 13th. Finally, Northland Securities downgraded shares of Apollo Endosurgery from a “market perform” rating to an “under perform” rating and decreased their price target for the company from $7.00 to $3.00 in a research note on Friday, November 9th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Apollo Endosurgery presently has a consensus rating of “Hold” and an average target price of $5.00.

In other Apollo Endosurgery news, major shareholder Stonepine Capital, L.P. purchased 57,430 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The shares were acquired at an average cost of $3.41 per share, for a total transaction of $195,836.30. Following the completion of the purchase, the insider now owns 2,932,196 shares of the company’s stock, valued at approximately $9,998,788.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased 411,630 shares of company stock worth $1,880,116 over the last 90 days. 52.80% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Apollo Endosurgery by 42.4% during the second quarter. BlackRock Inc. now owns 22,768 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 6,775 shares during the period. Renaissance Technologies LLC lifted its position in Apollo Endosurgery by 30.9% during the second quarter. Renaissance Technologies LLC now owns 45,300 shares of the biotechnology company’s stock worth $316,000 after purchasing an additional 10,700 shares during the period. Ardsley Advisory Partners lifted its position in Apollo Endosurgery by 25.0% during the second quarter. Ardsley Advisory Partners now owns 50,000 shares of the biotechnology company’s stock worth $349,000 after purchasing an additional 10,000 shares during the period. Worth Venture Partners LLC bought a new stake in Apollo Endosurgery during the third quarter worth about $359,000. Finally, JPMorgan Chase & Co. lifted its position in Apollo Endosurgery by 411.1% during the third quarter. JPMorgan Chase & Co. now owns 58,427 shares of the biotechnology company’s stock worth $419,000 after purchasing an additional 46,995 shares during the period. Institutional investors and hedge funds own 41.04% of the company’s stock.

Shares of NASDAQ:APEN traded down $0.70 on Friday, hitting $4.01. The company had a trading volume of 23,157 shares, compared to its average volume of 69,759. Apollo Endosurgery has a 1-year low of $3.14 and a 1-year high of $9.65. The company has a market cap of $103.12 million, a P/E ratio of -2.00 and a beta of 0.34. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.42 and a quick ratio of 1.81.

About Apollo Endosurgery

Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices for the treatment of obesity. The company offers endo-bariatric products, such as Orbera intragastric balloon system and Orbera365 Managed Weight Loss System, which are non-surgical alternatives for the treatment of overweight and obese adults; and OverStitch endoscopic suturing system that enables endoscopic procedures by allowing physicians to place full-thickness sutures and secure the approximation of tissue through flexible endoscope.

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