Cowen lifts Apollo Endosurgery Inc. [APEN] price estimate. Who else is bullish?

Apollo Endosurgery Inc. [NASDAQ: APEN] gained 67.83% or 4.07 points to close at $10.07 with a heavy trading volume of 28746447 shares. The company report on November 29, 2022 that Apollo Endosurgery to be Acquired by Boston Scientific.

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Boston Scientific to acquire Apollo for $10.00 per share in cash.

Apollo Endosurgery, Inc. (“Apollo”) (NASDAQ:APEN), a leading minimally invasive medical device company for gastrointestinal and bariatric procedures, announced today it has entered into a definitive merger agreement to be acquired by Boston Scientific Corporation (“Boston Scientific”), a global medical technology leader, in an all-cash transaction with an enterprise value of approximately $615 million.[1] This transaction has been unanimously approved by the Apollo Board of Directors.

It opened the trading session at $9.80, the shares rose to $10.30 and dropped to $9.79, the range by which the price of stock traded the whole day. The daily chart for APEN points out that the company has recorded 131.49% gains over the past six months. However, it is still -188.54% lower than its most recent low trading price.

If we look at the average trading volume of 103.49K shares, APEN reached to a volume of 28746447 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Apollo Endosurgery Inc. [APEN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for APEN shares is $12.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on APEN stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for Apollo Endosurgery Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 15, 2021. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on December 09, 2021, representing the official price target for Apollo Endosurgery Inc. stock. Previously, the target price had yet another raise to $15, while Stephens analysts kept a Overweight rating on APEN stock.

The Average True Range (ATR) for Apollo Endosurgery Inc. is set at 0.70, with the Price to Sales ratio for APEN stock in the period of the last 12 months amounting to 5.77. The Price to Book ratio for the last quarter was 9.68, with the Price to Cash per share for the same quarter was set at 1.63.

Trading performance analysis for APEN stock

Apollo Endosurgery Inc. [APEN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 68.96. With this latest performance, APEN shares gained by 60.61% in over the last four-week period, additionally plugging by 131.49% over the last 6 months – not to mention a rise of 24.32% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for APEN stock in for the last two-week period is set at 86.24, with the RSI for the last a single of trading hit 91.13, and the three-weeks RSI is set at 81.82 for Apollo Endosurgery Inc. [APEN]. The present Moving Average for the last 50 days of trading for this stock 5.96, while it was recorded at 6.79 for the last single week of trading, and 5.49 for the last 200 days.

Apollo Endosurgery Inc. [APEN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Apollo Endosurgery Inc. [APEN] shares currently have an operating margin of -30.48 and a Gross Margin at +52.52. Apollo Endosurgery Inc.’s Net Margin is presently recorded at -39.18.

Return on Equity for this stock declined to -72.61, with Return on Assets sitting at -23.57.

Apollo Endosurgery Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.00 and a Current Ratio set at 6.00.

An analysis of insider ownership at Apollo Endosurgery Inc. [APEN]

There are presently around $319 million, or 74.30% of APEN stock, in the hands of institutional investors. The top three institutional holders of APEN stocks are: NANTAHALA CAPITAL MANAGEMENT, LLC with ownership of 3,973,906, which is approximately 6.739% of the company’s market cap and around 3.10% of the total institutional ownership; CPMG INC, holding 3,963,641 shares of the stock with an approximate value of $39.91 million in APEN stocks shares; and STONEPINE CAPITAL MANAGEMENT, LLC, currently with $28.52 million in APEN stock with ownership of nearly 31.019% of the company’s market capitalization.

Positions in Apollo Endosurgery Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 28 institutional holders increased their position in Apollo Endosurgery Inc. [NASDAQ:APEN] by around 5,019,624 shares. Additionally, 34 investors decreased positions by around 3,843,199 shares, while 11 investors held positions by with 22,779,623 shares. The mentioned changes placed institutional holdings at 31,642,446 shares, according to the latest SEC report filing. APEN stock had 7 new institutional investments in for a total of 1,782,659 shares, while 20 institutional investors sold positions of 1,285,870 shares during the same period.


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