Orchestra BioMed (NASDAQ:OBIO) Given New $12.00 Price Target at BTIG Research

Key Points

• BTIG Research raised its price target on Orchestra BioMed from $10 to $12 and maintained a Buy rating, implying 95.12% upside from the prior close.
• Analyst sentiment is broadly positive: seven analysts rate the stock Buy and one Sell, for a consensus Moderate Buy and average price target of $13.
• The company reported a quarterly loss of $0.30 per share, better than the $0.40 loss analysts expected, while revenue of $0.09 million fell short of the $0.13 million estimate.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) had its target price boosted by stock analysts at BTIG Research from $10.00 to $12.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's price target indicates a potential upside of 95.12% from the stock's previous close.

A number of other analysts have also weighed in on OBIO. Piper Sandler reissued an "overweight" rating on shares of Orchestra BioMed in a report on Thursday, October 15th. Chardan Capital reaffirmed a "buy" rating and set a $20.00 price objective on shares of Orchestra BioMed in a report on Friday, October 23rd. Weiss Ratings raised Orchestra BioMed from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, September 10th. HC Wainwright reiterated a "buy" rating and issued a $10.00 price objective on shares of Orchestra BioMed in a research report on Monday, October 5th. Finally, B. Riley Financial lifted their target price on Orchestra BioMed from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Tuesday, September 15th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $13.00.

Orchestra BioMed Stock Performance

Shares of NASDAQ OBIO opened at $6.15 on Friday. Orchestra BioMed has a 12-month low of $3.46 and a 12-month high of $6.50. The firm's 50-day simple moving average is $5.81 and its 200 day simple moving average is $4.61. The company has a current ratio of 7.25, a quick ratio of 8.24 and a debt-to-equity ratio of 4.58.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last posted its quarterly earnings data 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. Orchestra BioMed had a negative net margin of 182.50% and a negative return on equity of 186.93%. The firm had revenue of $0.09 million during the quarter, compared to analysts' expectations of $0.13 million. Research analysts predict that Orchestra BioMed will post -1.53 EPS for the current fiscal year.

Insider Buying and Selling at Orchestra BioMed

In other Orchestra BioMed news, insider David Hochman purchased 10,000 shares of the stock in a transaction dated Thursday, September 3rd. The stock was bought at an average price of $4.79 per share, for a total transaction of $47,900.00. Following the transaction, the insider directly owned 1,070,746 shares in the company, valued at $5,128,873.34. This represents a 0.94% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eric Fain purchased 20,000 shares of the company's stock in a transaction that occurred on Monday, November 9th. The shares were acquired at an average cost of $5.00 per share, with a total value of $100,000.00. Following the completion of the purchase, the director owned 119,630 shares of the company's stock, valued at $598,150. The trade was a 20.07% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 58,000 shares of company stock worth $288,560 and sold 45,000 shares worth $255,600. 7.50% of the stock is currently owned by insiders.

Institutional Trading of Orchestra BioMed

A number of institutional investors have recently bought and sold shares of the business. Rice Hall James & Associates LLC bought a new position in shares of Orchestra BioMed in the 1st quarter worth $81,000. Canada Pension Plan Investment Board acquired a new position in Orchestra BioMed in the second quarter valued at about $91,000. Bank of America Corp DE acquired a new position in Orchestra BioMed in the second quarter valued at about $103,000. AXQ Capital LP bought a new position in Orchestra BioMed during the second quarter worth about $110,000. Finally, Algert Global LLC boosted its holdings in Orchestra BioMed by 94.4% during the second quarter. Algert Global LLC now owns 28,486 shares of the company's stock worth $123,000 after buying an additional 13,830 shares during the last quarter. Institutional investors and hedge funds own 53.20% of the company's stock.

Orchestra BioMed Company Profile

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.

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