Orchestra BioMed (NASDAQ:OBIO) Price Target Lowered to $12.00 at Barclays

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) had its price objective reduced by investment analysts at Barclays from $16.00 to $12.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's target price would indicate a potential upside of 352.83% from the stock's current price.

OBIO has been the subject of a number of other research reports. BTIG Research assumed coverage on shares of Orchestra BioMed in a research report on Thursday, March 20th. They issued a "buy" rating and a $12.00 target price for the company. HC Wainwright reiterated a "buy" rating on shares of Orchestra BioMed in a report on Wednesday, April 23rd. B. Riley upgraded Orchestra BioMed to a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $20.00 target price on shares of Orchestra BioMed in a research report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $14.20.

Orchestra BioMed Stock Performance

Shares of NASDAQ:OBIO traded down $0.22 during mid-day trading on Monday, hitting $2.65. The stock had a trading volume of 174,960 shares, compared to its average volume of 160,807. Orchestra BioMed has a 12-month low of $2.37 and a 12-month high of $8.87. The company has a market cap of $101.53 million, a PE ratio of -1.65 and a beta of 0.67. The company's 50 day moving average is $3.36 and its 200-day moving average is $4.66.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last issued its quarterly earnings results on Monday, March 31st. The company reported ($0.43) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.43). Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. The business had revenue of $0.25 million for the quarter, compared to the consensus estimate of $0.79 million. On average, equities research analysts predict that Orchestra BioMed will post -1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Orchestra BioMed

Several hedge funds have recently bought and sold shares of OBIO. Barclays PLC boosted its stake in shares of Orchestra BioMed by 281.3% during the 3rd quarter. Barclays PLC now owns 31,785 shares of the company's stock worth $163,000 after acquiring an additional 23,448 shares in the last quarter. Geode Capital Management LLC boosted its position in Orchestra BioMed by 2.0% during the third quarter. Geode Capital Management LLC now owns 567,219 shares of the company's stock worth $2,916,000 after purchasing an additional 11,002 shares during the period. SG Americas Securities LLC boosted its position in Orchestra BioMed by 26.0% during the fourth quarter. SG Americas Securities LLC now owns 12,785 shares of the company's stock worth $51,000 after purchasing an additional 2,642 shares during the period. HighTower Advisors LLC raised its position in shares of Orchestra BioMed by 34.3% in the fourth quarter. HighTower Advisors LLC now owns 68,500 shares of the company's stock valued at $274,000 after purchasing an additional 17,500 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Orchestra BioMed by 354.5% in the fourth quarter. JPMorgan Chase & Co. now owns 49,405 shares of the company's stock valued at $198,000 after purchasing an additional 38,535 shares during the period. 53.55% of the stock is owned by institutional investors and hedge funds.

Orchestra BioMed Company Profile

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.