Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is moderately bullish: Seven brokerages assign Orchestra BioMed a consensus “Moderate Buy” rating, with six buys and one sell. The average 12-month price target is $13.00, versus a share price of $5.45.
• Financial results remain weak: The company reported a quarterly loss of $0.38 per share, slightly better than the $0.39 consensus estimate, but revenue of $0.09 million fell short of the $0.14 million estimate. Analysts expect a full-year loss of $1.54 per share.
• Ownership activity was mixed: An insider purchased 10,000 shares, while another sold 15,000 shares under a pre-arranged trading plan. Institutional investors own 53.2% of the stock, and insiders own 7.5%.

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $13.00.

A number of brokerages have recently weighed in on OBIO. Weiss Ratings reiterated a "sell (e+)" rating on shares of Orchestra BioMed in a research report on Friday, July 17th. HC Wainwright restated a "buy" rating and set a $10.00 target price on shares of Orchestra BioMed in a report on Thursday, May 14th. Wall Street Zen lowered Orchestra BioMed from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Piper Sandler reiterated an "overweight" rating and issued a $10.00 price target (up from $9.00) on shares of Orchestra BioMed in a report on Tuesday, August 11th. Finally, Barclays boosted their price objective on shares of Orchestra BioMed from $12.00 to $13.00 and gave the company an "overweight" rating in a research report on Wednesday, May 13th.

Orchestra BioMed Stock Performance

Orchestra BioMed stock opened at $5.45 on Thursday. The company has a current ratio of 8.26, a quick ratio of 8.24 and a debt-to-equity ratio of 1.80. The firm has a market cap of $327.55 million, a P/E ratio of -6.41 and a beta of 0.54. Orchestra BioMed has a 1-year low of $2.20 and a 1-year high of $5.78. The firm has a 50-day moving average of $4.43 and a 200-day moving average of $4.28.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.39) by $0.01. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%.The company had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.14 million. Sell-side analysts expect that Orchestra BioMed will post -1.54 EPS for the current year.

Insider Transactions at Orchestra BioMed

In related news, insider David P. Hochman purchased 10,000 shares of the firm's stock in a transaction that occurred on 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 completion of the purchase, the insider directly owned 1,070,746 shares in the company, valued at approximately $5,128,873.34. This represents a 0.94% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Darren Sherman sold 15,000 shares of the firm's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $4.94, for a total transaction of $74,100.00. Following the completion of the sale, the insider owned 1,134,402 shares of the company's stock, valued at $5,603,945.88. This trade represents a 1.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.50% of the company's stock.

Institutional Trading of Orchestra BioMed

Several large investors have recently bought and sold shares of the company. Creative Planning bought a new position in shares of Orchestra BioMed in the 2nd quarter worth approximately $40,000. XTX Topco Ltd bought a new stake in shares of Orchestra BioMed during the second quarter valued at approximately $45,000. Jane Street Group LLC bought a new stake in shares of Orchestra BioMed during the second quarter valued at approximately $50,000. Virtu Financial LLC purchased a new stake in Orchestra BioMed in the fourth quarter worth $57,000. Finally, Bank of America Corp DE grew its stake in Orchestra BioMed by 35.7% in the second quarter. Bank of America Corp DE now owns 21,577 shares of the company's stock worth $58,000 after purchasing an additional 5,678 shares during the period. 53.20% of the stock is owned by institutional investors.

Orchestra BioMed Company Profile

Orchestra BioMed, Inc NASDAQ: OBIO is a clinical‐stage biopharmaceutical company dedicated to developing targeted therapies for inflammatory, fibrotic and oncologic diseases. The company's research focuses on novel small-molecule programs designed to address high‐unmet-need conditions by leveraging proprietary prodrug and targeted inhibitor platforms. Orchestra BioMed's pipeline includes lead candidates such as OBI-3424, a prodrug activated by AKR1C3 for the treatment of select solid tumors, and next-generation modulators aimed at suppressing pathological inflammation and fibrosis.

Orchestra BioMed conducts early‐ and mid-stage clinical studies in North America, working closely with key opinion leaders and academic centers to advance its programs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.