Orchestra BioMed's (OBIO) "Buy" Rating Reiterated at Chardan Capital

Key Points

• Chardan Capital reaffirmed its “Buy” rating on Orchestra BioMed and maintained a $20 price target, implying approximately 258% upside from the stock’s $5.58 price.
• Analyst sentiment is broadly positive: six analysts rate OBIO a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and an average target price of $13.17.
• Orchestra BioMed remains an unprofitable clinical-stage company, reporting a quarterly loss of $0.38 per share and forecasting a full-year loss of $1.53 per share; institutional investors own 53.2% of its shares.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Chardan Capital in a report issued on Friday, Benzinga reports. They currently have a $20.00 price objective on the stock. Chardan Capital's target price would indicate a potential upside of 258.42% from the company's current price.

A number of other equities research analysts have also weighed in on OBIO. HC Wainwright reaffirmed a "buy" rating and set a $10.00 target price on shares of Orchestra BioMed in a research report on Monday, October 5th. Weiss Ratings upgraded Orchestra BioMed from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, September 10th. 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 note on Tuesday, September 15th. Finally, Piper Sandler restated an "overweight" rating on shares of Orchestra BioMed in a research note on Thursday, October 15th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $13.17.

Orchestra BioMed Stock Up 2.0%

NASDAQ OBIO opened at $5.58 on Friday. The stock's 50-day moving average price is $5.62 and its 200-day moving average price is $4.60. The company has a quick ratio of 8.24, a current ratio of 8.26 and a debt-to-equity ratio of 1.80. Orchestra BioMed has a 52 week low of $3.46 and a 52 week high of $6.50. The company has a market capitalization of $335.36 million, a P/E ratio of -6.56 and a beta of 0.52.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.01. The business had revenue of $0.09 million for 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%. On average, equities research analysts predict that Orchestra BioMed will post -1.53 earnings per share for the current year.

Insider Activity

In other news, insider Darren Sherman sold 15,000 shares of the business's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $4.94, for a total value of $74,100.00. Following the completion of the transaction, the insider owned 1,134,402 shares of the company's stock, valued at $5,603,945.88. The trade was a 1.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David P. Hochman acquired 10,000 shares of the firm's stock in a transaction dated Thursday, September 3rd. The stock was bought at an average cost of $4.79 per share, with a total value of $47,900.00. Following 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. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders sold 45,000 shares of company stock valued at $230,850. Insiders own 7.50% of the company's stock.

Hedge Funds Weigh In On Orchestra BioMed

A number of large investors have recently bought and sold shares of OBIO. Daytona Street Capital LLC grew its position in shares of Orchestra BioMed by 27.7% in the third quarter. Daytona Street Capital LLC now owns 123,148 shares of the company's stock valued at $744,000 after purchasing an additional 26,750 shares in the last quarter. HighTower Advisors LLC raised its position in Orchestra BioMed by 93.6% in the second quarter. HighTower Advisors LLC now owns 35,375 shares of the company's stock valued at $153,000 after purchasing an additional 17,100 shares during the period. AXQ Capital LP purchased a new stake in Orchestra BioMed in the second quarter valued at $110,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Orchestra BioMed during the second quarter worth $2,771,000. Finally, Bank of America Corp DE purchased a new position in shares of Orchestra BioMed during the second quarter worth $103,000. Institutional investors and hedge funds own 53.20% of the company's stock.

About Orchestra BioMed

Orchestra BioMed Holdings, Inc is a clinical-stage biotechnology and medical device company focused on developing technologies for cardiovascular disease and other high-need medical conditions. The company uses a partnership-driven business model, collaborating with established medical device and healthcare companies to advance products through clinical development and toward commercialization.

Its lead program is BackBeat Cardiac Neuromodulation Therapy, an investigational bioelectronic treatment intended to provide sustained reductions in blood pressure for patients with hypertension.