UPDATE: UBS Starts Obalon Therapeutics (OBLN) at Buy
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(Updated - October 31, 2016 10:43 AM EDT)
UBS initiated coverage on Obalon Therapeutics (NASDAQ: OBLN) with a Buy rating and a price target of $21.
Analyst Matt Miksic said, "We are initiating coverage with a Buy rating and $21 target. We think Obalon's FDA PMA indication and differentiated randomized clinical data position the company to capture share and drive adoption in the large and expanding obesity market, initially targeting ~55-60 mil adult patients in the U.S. with a BMI of 30-40. We see the company as uniquely positioned with defensible competitive advantages to penetrate and develop a new market exceeding $2 bil over time."
Shares of Obalon Therapeutics closed at $13.80 yesterday.
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