Orchestra BioMed (NASDAQ:OBIO) Earns “Buy” Rating from Chardan Capital

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating reissued by equities researchers at Chardan Capital in a note issued to investors on Friday, Benzinga reports. They currently have a $20.00 price objective on the stock. Chardan Capital‘s price target points to a potential upside of 246.02% from the company’s current price.

Other equities analysts have also issued research reports about the company. Weiss Ratings raised Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 10th. Piper Sandler restated an “overweight” rating on shares of Orchestra BioMed in a research report on Thursday, October 15th. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Orchestra BioMed in a research note on Monday, October 5th. Finally, B. Riley Financial increased their price target on shares of Orchestra BioMed from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, September 15th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Orchestra BioMed presently has an average rating of “Moderate Buy” and a consensus target price of $13.17.

Orchestra BioMed Price Performance

NASDAQ:OBIO traded up $0.23 during mid-day trading on Friday, reaching $5.78. 376,770 shares of the company were exchanged, compared to its average volume of 281,069. The company has a quick ratio of 8.24, a current ratio of 8.26 and a debt-to-equity ratio of 1.80. The stock has a market cap of $347.38 million, a PE ratio of -6.80 and a beta of 0.52. The company has a fifty day moving average of $5.68 and a 200 day moving average of $4.52. Orchestra BioMed has a 12 month low of $3.46 and a 12 month high of $6.50.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.01. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. The business had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.14 million. On average, research analysts anticipate that Orchestra BioMed will post -1.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other Orchestra BioMed news, insider David Hochman bought 10,000 shares of Orchestra BioMed stock in a transaction that occurred on Thursday, September 3rd. The stock was acquired at an average price of $4.79 per share, for a total transaction of $47,900.00. Following the completion of the acquisition, the insider owned 1,070,746 shares of the company’s stock, valued at $5,128,873.34. This trade represents a 0.94% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Darren Sherman sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $6.36, for a total transaction of $95,400.00. Following the transaction, the insider owned 1,119,402 shares in the company, valued at approximately $7,119,396.72. The trade was a 1.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 45,000 shares of company stock worth $230,850. 7.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Orchestra BioMed

A number of large investors have recently bought and sold shares of the stock. Rice Hall James & Associates LLC acquired a new position in shares of Orchestra BioMed during the first quarter valued at about $81,000. Canada Pension Plan Investment Board acquired a new position in Orchestra BioMed during the 2nd quarter worth approximately $91,000. Cannon Global Investment Management LLC acquired a new position in Orchestra BioMed during the 1st quarter worth approximately $96,000. Bank of America Corp DE acquired a new stake in Orchestra BioMed in the 2nd quarter valued at $103,000. Finally, AXQ Capital LP acquired a new stake in Orchestra BioMed in the 2nd quarter valued at $110,000. 53.20% of the stock is currently owned by institutional investors and hedge funds.

Orchestra BioMed Company Profile

Orchestra BioMed Holdings, Inc is a clinical-stage biotechnology and medical device company focused on developing technologies for cardiovascular disease and other high-need medical conditions. The company uses a partnership-driven business model, collaborating with established medical device and healthcare companies to advance products through clinical development and toward commercialization.

Its lead program is BackBeat Cardiac Neuromodulation Therapy, an investigational bioelectronic treatment intended to provide sustained reductions in blood pressure for patients with hypertension.