Apollo Endosurgery (NASDAQ:APEN) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Apollo Endosurgery (NASDAQ:APENGet Rating) issued its quarterly earnings results on Tuesday. The biotechnology company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.01), MarketWatch Earnings reports. Apollo Endosurgery had a negative return on equity of 148.35% and a negative net margin of 39.19%. During the same period in the prior year, the business earned ($0.17) EPS.

Apollo Endosurgery stock opened at $5.56 on Thursday. The firm’s 50 day simple moving average is $6.00 and its 200 day simple moving average is $6.94. The company has a quick ratio of 7.09, a current ratio of 7.92 and a debt-to-equity ratio of 0.87. Apollo Endosurgery has a 1-year low of $4.52 and a 1-year high of $10.39.

A number of equities research analysts have recently commented on the company. Piper Sandler lowered their target price on Apollo Endosurgery from $14.00 to $12.00 in a research note on Wednesday, February 23rd. Zacks Investment Research raised shares of Apollo Endosurgery from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Stifel Nicolaus dropped their target price on shares of Apollo Endosurgery from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, February 23rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Apollo Endosurgery currently has an average rating of “Buy” and an average price target of $12.50.

In other news, CFO Jeffrey G. Black bought 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The shares were acquired at an average price of $5.66 per share, with a total value of $84,900.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 30.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new position in shares of Apollo Endosurgery in the fourth quarter worth $41,000. JPMorgan Chase & Co. purchased a new position in Apollo Endosurgery in the 4th quarter worth approximately $82,000. Cubist Systematic Strategies LLC purchased a new position in Apollo Endosurgery in the 4th quarter worth approximately $263,000. Citigroup Inc. bought a new stake in shares of Apollo Endosurgery in the 4th quarter worth approximately $360,000. Finally, State Street Corp grew its position in shares of Apollo Endosurgery by 51.0% in the 4th quarter. State Street Corp now owns 58,900 shares of the biotechnology company’s stock worth $497,000 after buying an additional 19,900 shares during the last quarter. 94.64% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Endosurgery Company Profile (Get Rating)

Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices. The company offers OverStitch and OverStitch Sx Endoscopic Suturing Systems that enable advanced endoscopic procedures by allowing physicians to sutures and secure the approximation of tissue through a flexible endoscope.

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Earnings History for Apollo Endosurgery (NASDAQ:APEN)

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