Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Receives $14.00 Average Price Target from Brokerages

Key Points

• Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) has received a consensus rating of "Buy" from five research firms, with an average one-year price target of $14.00.
• The company reported earnings of ($0.50) EPS for the last quarter, surpassing analysts' estimates, with revenue of $0.84 million.
• Insider David P. Hochman acquired 20,000 shares at an average price of $2.75, increasing his ownership by 6.07% in the company.

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) has been given an average recommendation of "Buy" by the five brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $13.50.

OBIO has been the subject of a number of recent analyst reports. Chardan Capital reiterated a "buy" rating and issued a $20.00 price target on shares of Orchestra BioMed in a research report on Wednesday, August 13th. HC Wainwright dropped their price target on shares of Orchestra BioMed from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday. Finally, BTIG Research reiterated a "neutral" rating on shares of Orchestra BioMed in a research report on Wednesday, August 20th.

Insider Buying and Selling at Orchestra BioMed

In other news, insider David P. Hochman purchased 20,000 shares of the company's stock in a transaction on Monday, August 4th. The stock was acquired at an average cost of $2.75 per share, for a total transaction of $55,000.00. Following the completion of the transaction, the insider directly owned 349,331 shares in the company, valued at $960,660.25. This trade represents a 6.07% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have purchased 36,760 shares of company stock valued at $97,934 in the last three months. Corporate insiders own 8.10% of the company's stock.

Hedge Funds Weigh In On Orchestra BioMed

A number of hedge funds have recently modified their holdings of the company. Northern Trust Corp boosted its position in shares of Orchestra BioMed by 2.5% in the fourth 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 period. IFP Advisors Inc lifted its holdings in shares of Orchestra BioMed by 106.4% in the first quarter. IFP Advisors Inc now owns 161,921 shares of the company's stock worth $693,000 after buying an additional 83,481 shares in the last quarter. Knott David M Jr purchased a new position in shares of Orchestra BioMed in the second quarter worth $268,000. Marshall Wace LLP purchased a new position in shares of Orchestra BioMed in the second quarter worth $133,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Orchestra BioMed by 354.5% in the fourth quarter. JPMorgan Chase & Co. now owns 49,405 shares of the company's stock worth $198,000 after buying an additional 38,535 shares in the last quarter. 53.20% of the stock is currently owned by institutional investors.

Orchestra BioMed Stock Performance

NASDAQ OBIO traded up $0.02 during trading hours on Friday, hitting $2.74. 176,888 shares of the company's stock traded hands, compared to its average volume of 341,394. The business's fifty day moving average price is $2.84 and its two-hundred day moving average price is $3.21. The company has a current ratio of 2.10, a quick ratio of 2.09 and a debt-to-equity ratio of 48.76. The firm has a market capitalization of $105.87 million, a P/E ratio of -1.50 and a beta of 0.61. Orchestra BioMed has a 52 week low of $2.37 and a 52 week high of $6.50.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.01. The company had revenue of $0.84 million during the quarter, compared to analyst estimates of $0.78 million. Orchestra BioMed had a negative net margin of 2,367.49% and a negative return on equity of 289.42%. Equities research 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.