Orchestra BioMed (NASDAQ:OBIO) Stock Gets Price Target Boost from BTIG Research

Orchestra BioMed (NASDAQ:OBIO) had its price target boosted by stock analysts at BTIG Research from $10.00 to $12.00 in a research note issued to investors on Friday, MarketBeat reports. The firm currently has a “buy” rating on the stock. BTIG Research‘s target price suggests a potential upside of 65.52% from the company’s previous close.

Several other brokerages also recently commented on OBIO. Piper Sandler reaffirmed an “overweight” rating on shares of Orchestra BioMed in a research note on Thursday, October 15th. Chardan Capital restated a “buy” rating and set a $20.00 price target on shares of Orchestra BioMed in a report on Friday, October 23rd. B. Riley Financial upped their price target on Orchestra BioMed from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, September 15th. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Orchestra BioMed in a report on Monday, October 5th. Finally, Weiss Ratings upgraded Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 10th. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.29.

Orchestra BioMed Trading Up 17.9%

Shares of NASDAQ OBIO traded up $1.10 during mid-day trading on Friday, hitting $7.25. The stock had a trading volume of 1,565,234 shares, compared to its average volume of 483,382. The company has a debt-to-equity ratio of 4.58, a quick ratio of 8.24 and a current ratio of 7.25. Orchestra BioMed has a 1 year low of $3.46 and a 1 year high of $7.37. The business has a 50 day moving average price of $5.86 and a two-hundred day moving average price of $4.63. The firm has a market cap of $445.51 million, a P/E ratio of -9.67 and a beta of 0.56.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings results on Tuesday, November 10th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.10. The business had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.13 million. Orchestra BioMed had a negative net margin of 182.50% and a negative return on equity of 186.93%. On average, equities analysts anticipate that Orchestra BioMed will post -1.53 EPS for the current fiscal year.

Insider Activity at Orchestra BioMed

In related news, insider David P. Hochman bought 10,000 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was purchased at an average cost of $4.79 per share, with a total value of $47,900.00. Following the transaction, the insider owned 1,070,746 shares in the company, valued at approximately $5,128,873.34. This trade represents a 0.94% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric S. Fain bought 20,000 shares of the business’s stock in a transaction dated Monday, November 9th. The shares were bought at an average cost of $5.00 per share, for a total transaction of $100,000.00. Following the purchase, the director directly owned 119,630 shares in the company, valued at approximately $598,150. This represents a 20.07% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 58,000 shares of company stock valued at $288,560 and sold 45,000 shares valued at $255,600. 7.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Orchestra BioMed

A number of institutional investors have recently bought and sold shares of the stock. Rice Hall James & Associates LLC purchased a new stake in Orchestra BioMed in the first quarter worth about $81,000. Canada Pension Plan Investment Board bought a new stake in Orchestra BioMed during the 2nd quarter valued at approximately $91,000. Bank of America Corp DE bought a new stake in Orchestra BioMed during the 2nd quarter valued at approximately $103,000. AXQ Capital LP purchased a new position in shares of Orchestra BioMed during the 2nd quarter worth approximately $110,000. Finally, Algert Global LLC grew its holdings in shares of Orchestra BioMed by 94.4% during the 2nd quarter. Algert Global LLC now owns 28,486 shares of the company’s stock worth $123,000 after acquiring an additional 13,830 shares during the period. 53.20% of the stock is owned by institutional investors.

About Orchestra BioMed

Orchestra BioMed is a medical technology company that develops therapies for cardiovascular and other diseases, often in collaboration with established medical-device companies. Its work focuses on technologies intended to integrate with existing treatment approaches and devices. The company’s lead program, AVIM therapy, is designed to lower blood pressure in people with pacemakers by adjusting the timing of cardiac pacing. Orchestra BioMed is also developing Virtue SAB, a drug-delivery balloon intended to treat coronary artery disease by delivering sirolimus to blood vessels.