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

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) has earned a consensus rating of "Buy" from the five research firms that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $14.20.

Several research analysts have issued reports on OBIO shares. B. Riley raised shares of Orchestra BioMed to a "strong-buy" rating in a report on Thursday, April 3rd. Chardan Capital reissued a "buy" rating and set a $20.00 price objective on shares of Orchestra BioMed in a report on Tuesday, May 13th. Barclays decreased their price objective on shares of Orchestra BioMed from $16.00 to $12.00 and set an "overweight" rating for the company in a report on Monday, May 5th. 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.

Hedge Funds Weigh In On Orchestra BioMed

Several institutional investors have recently bought and sold shares of OBIO. Geode Capital Management LLC lifted its holdings in Orchestra BioMed by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 572,441 shares of the company's stock valued at $2,290,000 after buying an additional 5,222 shares in the last quarter. Boxer Capital Management LLC bought a new position in shares of Orchestra BioMed during the 4th quarter worth approximately $953,000. Northern Trust Corp grew its position in Orchestra BioMed by 2.5% during the 4th quarter. Northern Trust Corp now owns 236,761 shares of the company's stock worth $947,000 after purchasing an additional 5,725 shares during the last quarter. IFP Advisors Inc grew its position in Orchestra BioMed by 106.4% during the 1st quarter. IFP Advisors Inc now owns 161,921 shares of the company's stock worth $693,000 after purchasing an additional 83,481 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Orchestra BioMed by 34.3% in the 4th quarter. HighTower Advisors LLC now owns 68,500 shares of the company's stock valued at $274,000 after acquiring an additional 17,500 shares during the last quarter. Institutional investors own 53.55% of the company's stock.

Orchestra BioMed Trading Down 2.7%

NASDAQ:OBIO opened at $2.92 on Friday. The company has a 50-day moving average price of $2.95 and a 200-day moving average price of $3.88. Orchestra BioMed has a 12 month low of $2.37 and a 12 month high of $8.87. The company has a current ratio of 3.35, a quick ratio of 3.34 and a debt-to-equity ratio of 0.85. The stock has a market cap of $111.87 million, a price-to-earnings ratio of -1.64 and a beta of 0.61.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.03). Orchestra BioMed had a negative return on equity of 189.26% and a negative net margin of 2,297.85%. The company had revenue of $0.87 million during the quarter, compared to analysts' expectations of $0.39 million. Equities analysts predict that Orchestra BioMed will post -1.66 EPS for the current year.

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.

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