Orchestra BioMed (NASDAQ:OBIO - Get Free Report) had its price target lowered by stock analysts at Barclays from $16.00 to $12.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's target price would suggest a potential upside of 357.84% from the stock's current price.
Several other brokerages have also recently commented on OBIO. Chardan Capital reiterated a "buy" rating and set a $20.00 price target on shares of Orchestra BioMed in a research report on Tuesday, April 22nd. B. Riley raised Orchestra BioMed to a "strong-buy" rating in a research report on Thursday, April 3rd. HC Wainwright restated a "buy" rating on shares of Orchestra BioMed in a research report on Wednesday, April 23rd. Finally, BTIG Research started coverage on shares of Orchestra BioMed in a research report on Thursday, March 20th. They issued a "buy" rating and a $12.00 price target for the company. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Orchestra BioMed has an average rating of "Buy" and an average price target of $14.20.
Get Our Latest Analysis on OBIO
Orchestra BioMed Price Performance
Shares of OBIO stock traded down $0.12 during mid-day trading on Monday, hitting $2.62. The company had a trading volume of 142,348 shares, compared to its average volume of 155,422. The stock's 50 day moving average price is $3.54 and its 200-day moving average price is $4.76. Orchestra BioMed has a 52-week low of $2.43 and a 52-week high of $8.87. The company has a market capitalization of $100.42 million, a P/E ratio of -1.63 and a beta of 0.67.
Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last issued its earnings results on Monday, March 31st. The company reported ($0.43) earnings per share for the quarter, hitting the consensus estimate of ($0.43). The business had revenue of $0.25 million during the quarter, compared to analysts' expectations of $0.79 million. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. On average, equities research analysts expect that Orchestra BioMed will post -1.66 earnings per share for the current year.
Institutional Investors Weigh In On Orchestra BioMed
A number of institutional investors have recently modified their holdings of OBIO. Boxer Capital Management LLC bought a new position in Orchestra BioMed during the 4th quarter valued at $953,000. JPMorgan Chase & Co. boosted its holdings in Orchestra BioMed by 354.5% in the fourth quarter. JPMorgan Chase & Co. now owns 49,405 shares of the company's stock worth $198,000 after purchasing an additional 38,535 shares in the last quarter. Barclays PLC increased its holdings in shares of Orchestra BioMed by 281.3% during the 3rd quarter. Barclays PLC now owns 31,785 shares of the company's stock valued at $163,000 after acquiring an additional 23,448 shares during the last quarter. Millennium Management LLC bought a new stake in Orchestra BioMed during the fourth quarter valued at about $86,000. Finally, HighTower Advisors LLC raised its stake in Orchestra BioMed by 34.3% during the 4th 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 last quarter. Institutional investors and hedge funds own 53.55% of the company's stock.
About Orchestra BioMed
(
Get Free Report)
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.
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