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

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 received a consensus recommendation of "Buy" from the five brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $14.00.

Several research firms have recently commented on OBIO. Chardan Capital reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Orchestra BioMed in a report on Wednesday, August 13th. BTIG Research reaffirmed a "neutral" rating on shares of Orchestra BioMed in a report on Wednesday, August 20th. Finally, Barclays dropped their price objective on shares of Orchestra BioMed from $16.00 to $12.00 and set an "overweight" rating on the stock in a report on Monday, May 5th.

Orchestra BioMed Stock Performance

NASDAQ OBIO traded up $0.02 on Friday, hitting $2.73. 123,956 shares of the company's stock traded hands, compared to its average volume of 421,235. The firm's 50-day moving average price is $2.87 and its two-hundred day moving average price is $3.26. The company has a debt-to-equity ratio of 48.76, a quick ratio of 2.09 and a current ratio of 2.10. 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 released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.50) EPS for the quarter, beating the consensus estimate 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%. On average, equities research analysts expect that Orchestra BioMed will post -1.66 earnings per share for the current year.

Insider Activity

In other news, insider David P. Hochman bought 20,000 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was purchased at an average cost of $2.75 per share, for a total transaction of $55,000.00. Following the purchase, the insider directly owned 349,331 shares in the company, valued at approximately $960,660.25. This trade represents a 6.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have acquired 36,760 shares of company stock valued at $97,934. Insiders own 8.10% of the company's stock.

Hedge Funds Weigh In On Orchestra BioMed

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in Orchestra BioMed by 354.5% during the fourth quarter. JPMorgan Chase & Co. now owns 49,405 shares of the company's stock worth $198,000 after purchasing an additional 38,535 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Orchestra BioMed by 43.6% during the 4th quarter. Wells Fargo & Company MN now owns 13,156 shares of the company's stock worth $53,000 after buying an additional 3,992 shares during the period. Barclays PLC raised its stake in shares of Orchestra BioMed by 18.9% during the 4th quarter. Barclays PLC now owns 37,786 shares of the company's stock worth $152,000 after buying an additional 6,001 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Orchestra BioMed by 11.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 37,009 shares of the company's stock valued at $148,000 after buying an additional 3,704 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Orchestra BioMed by 2.5% in the 4th quarter. Northern Trust Corp now owns 236,761 shares of the company's stock valued at $947,000 after acquiring an additional 5,725 shares during the period. Hedge funds and other institutional investors own 53.20% of the company's stock.

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.