Analysts Set Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Price Target at $13.60

Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) have been given an average rating of “Moderate Buy” by the seven brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $13.60.

Several research firms have weighed in on OBIO. Barclays upped their target price on Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Orchestra BioMed in a report on Thursday, May 14th. Wall Street Zen lowered Orchestra BioMed from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Chardan Capital reissued a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a report on Thursday, March 12th. Finally, B. Riley Financial dropped their price target on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th.

Orchestra BioMed Trading Up 1.3%

NASDAQ:OBIO opened at $3.95 on Tuesday. The stock has a fifty day moving average price of $4.11 and a two-hundred day moving average price of $4.27. The stock has a market capitalization of $236.53 million, a price-to-earnings ratio of -4.07 and a beta of 0.51. The company has a debt-to-equity ratio of 0.35, a quick ratio of 7.01 and a current ratio of 7.03. Orchestra BioMed has a 1 year low of $2.20 and a 1 year high of $5.42.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.07. The firm had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.92 million. Orchestra BioMed had a negative return on equity of 157.46% and a negative net margin of 166.96%. As a group, sell-side analysts anticipate that Orchestra BioMed will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider David P. Hochman acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average price of $4.29 per share, with a total value of $42,900.00. Following the completion of the purchase, the insider directly owned 1,086,467 shares in the company, valued at approximately $4,660,943.43. The trade was a 0.93% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Darren Sherman sold 15,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $3.87, for a total value of $58,050.00. Following the sale, the insider directly owned 1,184,327 shares in the company, valued at approximately $4,583,345.49. The trade was a 1.25% 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. Over the last three months, insiders purchased 49,636 shares of company stock worth $200,981. 7.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Orchestra BioMed

A number of large investors have recently made changes to their positions in OBIO. Bank of America Corp DE boosted its stake in shares of Orchestra BioMed by 42.0% during the fourth quarter. Bank of America Corp DE now owns 23,780 shares of the company’s stock valued at $95,000 after acquiring an additional 7,036 shares during the last quarter. Creative Planning acquired a new stake in shares of Orchestra BioMed during the second quarter valued at $40,000. XTX Topco Ltd acquired a new stake in shares of Orchestra BioMed during the second quarter valued at $45,000. Marshall Wace LLP acquired a new stake in shares of Orchestra BioMed during the second quarter valued at $133,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Orchestra BioMed during the second quarter valued at $118,000. Institutional investors and hedge funds own 53.20% of the company’s stock.

Orchestra BioMed Company Profile

Orchestra BioMed, Inc (NASDAQ: OBIO) is a clinical‐stage biopharmaceutical company dedicated to developing targeted therapies for inflammatory, fibrotic and oncologic diseases. The company’s research focuses on novel small-molecule programs designed to address high‐unmet-need conditions by leveraging proprietary prodrug and targeted inhibitor platforms. Orchestra BioMed’s pipeline includes lead candidates such as OBI-3424, a prodrug activated by AKR1C3 for the treatment of select solid tumors, and next-generation modulators aimed at suppressing pathological inflammation and fibrosis.

Orchestra BioMed conducts early‐ and mid-stage clinical studies in North America, working closely with key opinion leaders and academic centers to advance its programs.