Long
APEN is H "APEN" Ning
NASDAQ:APEN saw a break out today and the move was impressive. I believe we saw the first Minor 5 Wave Cycle in a longer trend. We should see and extension of today's rally because WAVE 1 & WAVE 2 broke the Fibonacci Level of 1.618. AAPEN has been in a long Decline since 2008!
Key Fibonacci Extension levels that I am eyeing from the extension of WAVES 1 & 3:
- 1.681%: $9.70
2.681%: $12.42
Huge Volume Spike & Wave Correction
I will keep you updated.
*For Educational Purposes only*
Stay thirsty my friends,
-AB
Note
The Turn is Ready to Rocket!
Note
UPDATE:
In the second quarter, OverStitch became our top-selling product in all of our direct markets accounting for 35% of total revenue. And we also continue to see great progress with Orbera365 in Europe. There were also some revenue challenges this quarter, United States LAP-BAND sales declined at a rate we had not anticipated based on previous trends. And US Orbera momentum was slowed in the last month of the quarter because of perceptions and we think misperceptions about the FDA's latest letter to healthcare providers concerning liquid-filled intragastric balloons that they issued on June 4.
One thing I want to point out, starting this quarter, we have decided to separately disclose our suturing product sales and Intragastric balloon sales so that you're able to see the makeup of our Endo-bariatric product sales. With this additional information, we think you'll be better able to examine our results and the future developed more informed estimates of how certain external events such as the letters issued by the FDA over the last year might affect the relevant portion of our business.
And now, I'll turn the call over to Stefanie to give more details on our second quarter financial results.
Although the letter's intention was to communicate new labeling which will ultimately be beneficial for the US intragastric balloon market, the manner in which the media covered the FDA letter was with a negative bias and this led to lower Orbera consumer lead generation and sales in the US during the month of June. In addition, we had a very soft second quarter in Brazil, which is our largest six month balloon market outside the United States.
ESS sales increased 44% and in the US sales increased 31%, both due to new account starts and greater utilization within existing accounts.
Apollo Endosurgery (APEN) Earning Somewhat Positive News Coverage, Accern Reports
APEN has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Apollo Endosurgery from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Roth Capital reaffirmed a “neutral” rating and issued a $9.50 target price on shares of Apollo Endosurgery in a research note on Tuesday, July 17th. Northland Securities cut shares of Apollo Endosurgery from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 9th. Finally, ValuEngine upgraded shares of Apollo Endosurgery from a “sell” rating to a “hold” rating in a report on Monday, May 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.56.
Insider Buying:
In related news, Director Matthew S. Crawford purchased 363,500 shares of Apollo Endosurgery stock in a transaction dated Wednesday, June 20th. The stock was bought at an average cost of $5.50 per share, with a total value of $1,999,250.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Todd Newton purchased 72,727 shares of Apollo Endosurgery stock in a transaction dated Wednesday, June 20th. The stock was bought at an average cost of $5.50 per share, with a total value of $399,998.50. Following the completion of the purchase, the chief executive officer now owns 268,606 shares in the company, valued at approximately $1,477,333. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 440,772 shares of company stock valued at $2,424,246. Insiders own 52.80% of the company’s stock.
screenshots.firefox.com/p8pX3p4HJBqvBxl0/columbiasurgery.org
screenshots.firefox.com/ZCVNoal9xDUIb4G6/columbiasurgery.org
Note
Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices for the treatment of obesity. The company offers endo-bariatric products, such as Orbera intragastric balloon system and Orbera365 Managed Weight Loss System, which are non-surgical alternatives for the treatment of overweight and obese adults; and OverStitch endoscopic suturing system that enables endoscopic procedures by allowing physicians to place full-thickness sutures and secure the approximation of tissue through flexible endoscope.
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