Reshape Lifesciences Inc (RSLS) Given $33.73 Average Price Target by Analysts

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Shares of Reshape Lifesciences Inc (NASDAQ:RSLS) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Brokerages have set a 12-month consensus price objective of $33.73 for the company, according to Zacks. Zacks has also given Reshape Lifesciences an industry rank of 95 out of 255 based on the ratings given to related companies.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Reshape Lifesciences from a “hold” rating to a “buy” rating and set a $11.25 price target on the stock in a research report on Thursday, April 26th. ValuEngine upgraded Reshape Lifesciences from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd.

An institutional investor recently bought a new position in Reshape Lifesciences stock. Anson Funds Management LP acquired a new position in shares of Reshape Lifesciences Inc (NASDAQ:RSLS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 219,016 shares of the medical device company’s stock, valued at approximately $324,000. Anson Funds Management LP owned approximately 0.73% of Reshape Lifesciences at the end of the most recent quarter.

Shares of Reshape Lifesciences opened at $2.29 on Wednesday, Marketbeat Ratings reports. Reshape Lifesciences has a 52-week low of $2.08 and a 52-week high of $79.20. The stock has a market capitalization of $5.94 million, a P/E ratio of -0.05 and a beta of 2.43.

Reshape Lifesciences (NASDAQ:RSLS) last announced its quarterly earnings data on Monday, May 14th. The medical device company reported ($5.40) earnings per share (EPS) for the quarter. Reshape Lifesciences had a negative net margin of 1,715.25% and a negative return on equity of 69.19%. The firm had revenue of $0.95 million during the quarter. equities analysts anticipate that Reshape Lifesciences will post -9.15 earnings per share for the current fiscal year.

About Reshape Lifesciences

ReShape Lifesciences Inc, a medical device company, focuses on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases, and other gastrointestinal disorders. Its proprietary neuroblocking technology, vBloc Therapy is designed to intermittently block the vagus nerve using electrical impulses.

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