UPDATE: UBS Starts Obalon Therapeutics (OBLN) at Buy

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."

For an analyst ratings summary and ratings history on Obalon Therapeutics click here. For more ratings news on Obalon Therapeutics click here.

Shares of Obalon Therapeutics closed at $13.80 yesterday.

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