Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Stock Has Average Price Target of $13.17 According to Analysts

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $13.17.

Several equities analysts recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and set a $10.00 price objective (up from $9.00) on shares of Orchestra BioMed in a research note on Tuesday, August 11th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Orchestra BioMed in a research note on Monday. Weiss Ratings upgraded shares of Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 10th. Finally, B. Riley Financial upped their price objective on Orchestra BioMed from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, September 15th.

Insider Transactions at Orchestra BioMed

In other Orchestra BioMed news, insider Darren Sherman sold 15,000 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $6.36, for a total transaction of $95,400.00. Following the completion of the sale, the insider directly owned 1,119,402 shares in the company, valued at $7,119,396.72. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Hochman acquired 10,000 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was purchased at an average price of $4.79 per share, for a total transaction of $47,900.00. Following the completion of the acquisition, 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 ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have sold 45,000 shares of company stock valued at $230,850. 7.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Orchestra BioMed

A number of hedge funds have recently made changes to their positions in the business. Rice Hall James & Associates LLC purchased a new stake in shares of Orchestra BioMed during the first quarter valued at approximately $81,000. Canada Pension Plan Investment Board purchased a new position in shares of Orchestra BioMed in the second quarter valued at $91,000. Cannon Global Investment Management LLC acquired a new stake in Orchestra BioMed during the 1st quarter valued at $96,000. Bank of America Corp DE acquired a new stake in Orchestra BioMed during the 2nd quarter valued at $103,000. Finally, AXQ Capital LP purchased a new stake in Orchestra BioMed during the 2nd quarter worth $110,000. Hedge funds and other institutional investors own 53.20% of the company’s stock.

Orchestra BioMed Trading Up 3.8%

Shares of OBIO opened at $5.95 on Monday. The company has a debt-to-equity ratio of 1.80, a current ratio of 8.26 and a quick ratio of 8.24. The firm has a 50 day simple moving average of $5.37 and a 200-day simple moving average of $4.52. Orchestra BioMed has a 1-year low of $2.86 and a 1-year high of $6.50. The stock has a market cap of $357.60 million, a price-to-earnings ratio of -7.00 and a beta of 0.52.

Orchestra BioMed (NASDAQ:OBIO) last posted its earnings results on Monday, August 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.01. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%. The firm had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.14 million. Equities analysts forecast that Orchestra BioMed will post -1.53 EPS for the current fiscal year.

Orchestra BioMed Company Profile

Orchestra BioMed Holdings, Inc is a clinical-stage biomedical innovation company that develops transformative therapies and medical devices for patients with cardiovascular and other serious medical conditions. The company uses a partnership-driven business model, collaborating with medical device and pharmaceutical companies to advance products through clinical development and toward commercialization.

Its lead programs include Virtue SAB, an investigational drug-device combination designed to deliver sirolimus to the vessel wall without the use of a permanent drug-eluting implant.