Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Receives $13.00 Consensus Price Target from Brokerages

Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $13.1667.

A number of equities research analysts have recently commented on the company. Piper Sandler reiterated an “overweight” rating and set a $10.00 price objective (up from $9.00) on shares of Orchestra BioMed in a research report on Tuesday, August 11th. B Riley restated a “buy” rating on shares of Orchestra BioMed in a report on Tuesday. B. Riley Financial boosted their target price on Orchestra BioMed from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Weiss Ratings upgraded Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 10th.

Insider Activity

In other news, insider David P. Hochman bought 10,000 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were acquired at an average cost of $4.79 per share, with a total value of $47,900.00. Following the completion of the transaction, the insider directly owned 1,070,746 shares in the company, valued at approximately $5,128,873.34. The trade was a 0.94% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Darren Sherman sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $4.94, for a total transaction of $74,100.00. Following the sale, the insider owned 1,134,402 shares in the company, valued at $5,603,945.88. This represents a 1.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Orchestra BioMed

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Orchestra BioMed during the 2nd quarter worth about $10,832,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Orchestra BioMed in the 2nd quarter valued at about $2,771,000. Rice Hall James & Associates LLC acquired a new position in shares of Orchestra BioMed in the 2nd quarter valued at about $1,830,000. Flat Footed LLC purchased a new stake in shares of Orchestra BioMed in the second quarter worth approximately $1,084,670. Finally, Simplify Asset Management Inc. purchased a new stake in shares of Orchestra BioMed in the first quarter worth approximately $932,000. 53.20% of the stock is currently owned by hedge funds and other institutional investors.

Orchestra BioMed Stock Down 0.5%

NASDAQ OBIO opened at $6.01 on Thursday. 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 company’s 50 day simple moving average is $4.62 and its 200 day simple moving average is $4.34. Orchestra BioMed has a 12 month low of $2.20 and a 12 month high of $6.28. The company has a market capitalization of $361.20 million, a P/E ratio of -7.07 and a beta of 0.54.

Orchestra BioMed (NASDAQ:OBIO) last issued its earnings results on Monday, August 10th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.01. The firm had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.14 million. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. Equities research analysts expect that Orchestra BioMed will post -1.54 earnings per share for the current fiscal year.

About Orchestra BioMed

Orchestra BioMed Holdings, Inc is a clinical-stage healthcare company developing products for the treatment of cardiovascular and other serious medical conditions. The company uses a partnership-oriented business model, working with medical device and healthcare companies to advance novel therapies toward commercialization.

Orchestra BioMed’s leading program is BackBeat Cardiac Neuromodulation Therapy, an investigational device-based treatment designed to provide sustained reductions in blood pressure for patients with hypertension.