Brokerages Set Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Target Price at $14.00

Key Points

• The consensus recommendation for Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) is a "Buy" from five analysts, with an average one-year price target of $14.00.
• Orchestra BioMed reported a quarterly loss of ($0.49) EPS, missing expectations, but achieved revenue of $0.87 million, exceeding analyst predictions.
• Insider David P. Hochman purchased 20,000 shares at an average price of $2.75, increasing his ownership of the stock by 6.07%.

Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) have been assigned an average rating of "Buy" from the five analysts that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $14.00.

A number of brokerages have issued reports on OBIO. HC Wainwright reaffirmed a "buy" rating on shares of Orchestra BioMed in a research note on Wednesday, April 23rd. Barclays reduced their price objective on shares of Orchestra BioMed from $16.00 to $12.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, Chardan Capital reissued a "buy" rating and set a $20.00 price target on shares of Orchestra BioMed in a research report on Thursday.

Orchestra BioMed Price Performance

Shares of Orchestra BioMed stock traded up $0.11 during midday trading on Wednesday, reaching $2.71. The company had a trading volume of 790,354 shares, compared to its average volume of 306,043. 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 company has a market capitalization of $104.71 million, a price-to-earnings ratio of -1.52 and a beta of 0.62. The stock has a fifty day simple moving average of $3.04 and a 200 day simple moving average of $3.59. Orchestra BioMed has a 1-year low of $2.37 and a 1-year high of $7.04.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.03). Orchestra BioMed had a negative net margin of 2,297.85% and a negative return on equity of 189.26%. The business had revenue of $0.87 million during the quarter, compared to the consensus estimate of $0.39 million. As a group, equities research analysts forecast that Orchestra BioMed will post -1.66 earnings per share for the current year.

Insider Activity at Orchestra BioMed

In other Orchestra BioMed news, insider David P. Hochman purchased 20,000 shares of the stock in a transaction on Monday, August 4th. The shares were purchased at an average cost of $2.75 per share, for a total transaction of $55,000.00. Following the purchase, the insider owned 349,331 shares of the company's stock, valued at approximately $960,660.25. This represents a 6.07% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Orchestra BioMed

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OBIO. Boxer Capital Management LLC acquired a new stake in Orchestra BioMed in the 4th quarter valued at $953,000. IFP Advisors Inc increased its stake in Orchestra BioMed by 106.4% in the 1st quarter. IFP Advisors Inc now owns 161,921 shares of the company's stock valued at $693,000 after buying an additional 83,481 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Orchestra BioMed in the 2nd quarter valued at $122,000. Nuveen LLC acquired a new stake in Orchestra BioMed in the 1st quarter valued at $179,000. Finally, JPMorgan Chase & Co. increased its stake in Orchestra BioMed by 354.5% in the 4th quarter. JPMorgan Chase & Co. now owns 49,405 shares of the company's stock valued at $198,000 after buying an additional 38,535 shares during the last quarter. 53.20% of the stock is currently owned by institutional investors and hedge funds.

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.