Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Given Average Rating of "Buy" by Analysts

Key Points

• Orchestra BioMed Holdings has received an average rating of "Buy" from analysts, with a target price of $13.50 over the next year.
• Insider David P. Hochman purchased 20,000 shares at $2.75 each, indicating confidence in the company's future prospects.
• The company reported a revenue of $0.84 million for the last quarter, exceeding analysts' expectations, despite a net margin of -2,367.49%.

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) has earned a consensus rating of "Buy" from the five research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $13.50.

OBIO has been the topic of a number of research analyst reports. BTIG Research restated a "neutral" rating on shares of Orchestra BioMed in a research note on Wednesday, August 20th. HC Wainwright dropped their target price on shares of Orchestra BioMed from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, September 4th. Finally, Chardan Capital restated a "buy" rating and issued a $20.00 target price on shares of Orchestra BioMed in a research note on Wednesday, August 13th.

Insider Activity at Orchestra BioMed

In related news, insider David P. Hochman purchased 20,000 shares of Orchestra BioMed stock in a transaction dated Monday, August 4th. The stock was purchased at an average cost of $2.75 per share, with a total value of $55,000.00. Following the transaction, the insider owned 349,331 shares in the company, valued at approximately $960,660.25. The trade was a 6.07% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders acquired 37,760 shares of company stock valued at $100,384. Insiders own 8.10% of the company's stock.

Hedge Funds Weigh In On Orchestra BioMed

Large investors have recently added to or reduced their stakes in the company. Northern Trust Corp lifted its position in shares of Orchestra BioMed by 2.5% during the fourth quarter. Northern Trust Corp now owns 236,761 shares of the company's stock valued at $947,000 after buying an additional 5,725 shares during the last quarter. IFP Advisors Inc grew its position in shares of Orchestra BioMed by 106.4% in the 1st quarter. IFP Advisors Inc now owns 161,921 shares of the company's stock worth $693,000 after buying an additional 83,481 shares during the last quarter. Knott David M Jr purchased a new position in shares of Orchestra BioMed in the 2nd quarter worth approximately $268,000. Marshall Wace LLP purchased a new stake in Orchestra BioMed during the second quarter valued at approximately $133,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Orchestra BioMed during the second quarter valued at approximately $122,000. 53.20% of the stock is currently owned by institutional investors.

Orchestra BioMed Stock Performance

Shares of NASDAQ:OBIO opened at $2.42 on Thursday. The company has a market capitalization of $93.51 million, a price-to-earnings ratio of -1.32 and a beta of 0.61. Orchestra BioMed has a 12 month low of $2.20 and a 12 month high of $6.50. The firm's 50-day moving average is $2.74 and its 200 day moving average is $3.00. The company has a current ratio of 2.10, a quick ratio of 2.09 and a debt-to-equity ratio of 48.76.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.50) EPS for the quarter, topping analysts' consensus estimates of ($0.51) by $0.01. The business had revenue of $0.84 million for the quarter, compared to the consensus estimate of $0.78 million. Orchestra BioMed had a negative net margin of 2,367.49% and a negative return on equity of 289.42%. Research analysts predict that Orchestra BioMed will post -1.66 EPS for the current year.

About Orchestra BioMed

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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