Orchestra BioMed (NASDAQ:OBIO) Earns “Buy” Rating from HC Wainwright

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They presently have a $10.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 168.82% from the stock’s current price.

OBIO has been the topic of several other research reports. Barclays boosted their price target on Orchestra BioMed from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wall Street Zen raised Orchestra BioMed from a “strong sell” rating to a “hold” rating in a research note on Saturday, March 14th. Chardan Capital reaffirmed a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a research note on Thursday, March 12th. Finally, Weiss Ratings lowered Orchestra BioMed from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Orchestra BioMed Price Performance

Shares of OBIO opened at $3.72 on Thursday. Orchestra BioMed has a twelve month low of $2.20 and a twelve month high of $5.42. The stock’s 50 day moving average is $4.29 and its two-hundred day moving average is $4.27. The firm has a market capitalization of $222.75 million, a PE ratio of -3.84 and a beta of 0.52. The company has a current ratio of 7.03, a quick ratio of 6.43 and a debt-to-equity ratio of 0.35.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07. The company had revenue of $0.11 million for the quarter, compared to analyst estimates of $0.92 million. Orchestra BioMed had a negative return on equity of 157.46% and a negative net margin of 166.96%. Research analysts anticipate that Orchestra BioMed will post -1.67 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider David P. Hochman acquired 10,000 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the acquisition, the insider directly owned 1,086,467 shares in the company, valued at approximately $4,660,943.43. This represents a 0.93% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 7.50% of the company’s stock.

Institutional Trading of Orchestra BioMed

A number of institutional investors and hedge funds have recently made changes to their positions in OBIO. Bank of America Corp DE increased its holdings in shares of Orchestra BioMed by 42.0% during the 4th quarter. Bank of America Corp DE now owns 23,780 shares of the company’s stock worth $95,000 after buying an additional 7,036 shares during the last quarter. Creative Planning acquired a new stake in shares of Orchestra BioMed during the 2nd quarter worth $40,000. XTX Topco Ltd acquired a new stake in Orchestra BioMed in the 2nd quarter valued at $45,000. Marshall Wace LLP acquired a new stake in Orchestra BioMed in the 2nd quarter valued at $133,000. Finally, NewEdge Advisors LLC acquired a new stake in Orchestra BioMed in the 2nd quarter valued at $118,000. 53.20% of the stock is currently owned by institutional investors and hedge funds.

About Orchestra BioMed

Orchestra BioMed, Inc (NASDAQ: OBIO) is a clinical?stage biopharmaceutical company dedicated to developing targeted therapies for inflammatory, fibrotic and oncologic diseases. The company’s research focuses on novel small-molecule programs designed to address high?unmet-need conditions by leveraging proprietary prodrug and targeted inhibitor platforms. Orchestra BioMed’s pipeline includes lead candidates such as OBI-3424, a prodrug activated by AKR1C3 for the treatment of select solid tumors, and next-generation modulators aimed at suppressing pathological inflammation and fibrosis.

Orchestra BioMed conducts early? and mid-stage clinical studies in North America, working closely with key opinion leaders and academic centers to advance its programs.