BTIG Starts Obalon Therapeutics (OBLN) at Buy
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BTIG initiated coverage on Obalon Therapeutics (NASDAQ: OBLN) with a Buy rating and a price target of $20.
Analyst Sean Lavin said, "The obesity market is huge and growing. Technologies, surgeries, and pharmaceuticals prior to intragastric balloons have either been ineffective, unsafe, too costly, or irreversible. We believe OBLN’s balloon technology addresses many of the issues and will see strong adoption in the fight against obesity. The safety profile, minimal invasiveness, and reversibility all should be favored by physicians and patients. We believe the device will be used for both weight loss leading to significant medical benefits and by patients seeking small cosmetic benefits. Obalon really has shots on goal at two markets and, we think, will succeed at gaining traction in both. We see Obalon as targeting a multibillion dollar market opportunity."
Shares of Obalon Therapeutics closed at $13.80 yesterday.
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