Orchestra BioMed (NASDAQ:OBIO) Price Target Cut to $11.00 by Analysts at Barclays

Orchestra BioMed (NASDAQ:OBIO) had its price objective cut by stock analysts at Barclays from $12.00 to $11.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 150.57% from the company’s previous close.

A number of other equities analysts have also weighed in on OBIO. BTIG Research restated a “neutral” rating on shares of Orchestra BioMed in a research note on Wednesday, August 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Orchestra BioMed in a research report on Wednesday, October 8th. HC Wainwright decreased their price target on shares of Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, September 4th. Finally, Chardan Capital restated a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.25.

Orchestra BioMed Stock Performance

Shares of OBIO stock traded up $0.29 during trading on Wednesday, reaching $4.39. 208,667 shares of the company’s stock traded hands, compared to its average volume of 295,265. Orchestra BioMed has a 1 year low of $2.20 and a 1 year high of $6.50. The company has a market capitalization of $247.90 million, a P/E ratio of -2.41 and a beta of 0.65. The company has a current ratio of 2.10, a quick ratio of 2.09 and a debt-to-equity ratio of 48.76. The firm’s 50-day moving average is $3.13 and its 200 day moving average is $2.97.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Orchestra BioMed had a negative net margin of 2,665.05% and a negative return on equity of 449.62%. The company had revenue of $0.86 million during the quarter, compared to analysts’ expectations of $0.74 million. Equities research analysts expect that Orchestra BioMed will post -1.66 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OBIO. Bank of America Corp DE grew its position in shares of Orchestra BioMed by 42.0% in the 4th quarter. Bank of America Corp DE now owns 23,780 shares of the company’s stock worth $95,000 after buying an additional 7,036 shares during the last quarter. IFP Advisors Inc increased its position in Orchestra BioMed by 106.4% during the 1st quarter. IFP Advisors Inc now owns 161,921 shares of the company’s stock valued at $693,000 after purchasing an additional 83,481 shares during the period. Deutsche Bank AG raised its holdings in Orchestra BioMed by 67.3% in the 1st quarter. Deutsche Bank AG now owns 20,219 shares of the company’s stock worth $87,000 after purchasing an additional 8,134 shares in the last quarter. Nuveen LLC purchased a new position in shares of Orchestra BioMed during the first quarter valued at about $179,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Orchestra BioMed in the second quarter worth about $122,000. Institutional investors own 53.20% of the company’s stock.

About Orchestra BioMed

Orchestra BioMed Holdings, Inc operates as a biomedical innovation company. The company’s flagship product candidates include BackBeat Cardiac Neuromodulation Therapy (CNT) for the treatment of hypertension (HTN); and Virtue Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease.