Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Stock Has Average Target Price of $13.17

Key Points

• Analysts maintain a “Moderate Buy” consensus on Orchestra BioMed, with six buy ratings and one sell rating. The average 12-month price target is $13.17, well above the stock’s $6.09 opening price.
• Orchestra BioMed reported a quarterly loss of $0.38 per share, slightly better than estimates, but revenue of $0.09 million fell short of expectations. Analysts expect a full-year loss of approximately $1.53 per share.
• Institutional investors own 53.2% of the company, while recent insider activity included a 10,000-share purchase and 45,000 shares sold by insiders over the past 90 days. The clinical-stage company’s lead program is BackBeat Cardiac Neuromodulation Therapy for hypertension.

Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) have earned a consensus rating of "Moderate Buy" from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $13.17.

OBIO has been the topic of a number of recent research reports. HC Wainwright restated a "buy" rating and issued a $10.00 target price on shares of Orchestra BioMed in a report on Monday, October 5th. B. Riley Financial upped their target price on Orchestra BioMed from $10.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, September 15th. Chardan Capital reiterated a "buy" rating and issued a $20.00 price target on shares of Orchestra BioMed in a research report on Friday, October 23rd. Piper Sandler reissued an "overweight" rating on shares of Orchestra BioMed in a research note on Thursday, October 15th. Finally, Weiss Ratings raised Orchestra BioMed from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, September 10th.

Orchestra BioMed Price Performance

Shares of Orchestra BioMed stock opened at $6.09 on Friday. Orchestra BioMed has a 52 week low of $3.46 and a 52 week high of $6.50. 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 stock has a market cap of $366.01 million, a PE ratio of -7.16 and a beta of 0.52. The company's 50-day moving average price is $5.69 and its two-hundred day moving average price is $4.53.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.01. The business had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.14 million. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. As a group, sell-side analysts anticipate that Orchestra BioMed will post -1.53 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider David P. Hochman acquired 10,000 shares of the stock in a transaction on Thursday, September 3rd. The shares were purchased at an average cost of $4.79 per share, for a total transaction of $47,900.00. Following the transaction, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Darren Sherman sold 15,000 shares of the business's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $6.36, for a total transaction of $95,400.00. Following the sale, the insider directly owned 1,119,402 shares in the company, valued at approximately $7,119,396.72. This trade represents a 1.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 45,000 shares of company stock worth $230,850 in the last 90 days. 7.50% of the stock is owned by company insiders.

Institutional Trading of Orchestra BioMed

Several hedge funds and other institutional investors have recently modified their holdings of the business. Flat Footed LLC purchased a new position in Orchestra BioMed during the 2nd quarter valued at about $1,084,670. Rice Hall James & Associates LLC acquired a new position in shares of Orchestra BioMed in the 2nd quarter valued at about $1,830,000. BlackRock Inc. acquired a new position in shares of Orchestra BioMed in the 2nd quarter valued at about $10,832,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Orchestra BioMed in the second quarter worth approximately $2,771,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Orchestra BioMed in the second quarter worth approximately $372,000. 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.

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