HC Wainwright Forecasts Strong Price Appreciation for Orchestra BioMed (NASDAQ:OBIO) Stock

Orchestra BioMed (NASDAQ:OBIO) had its price target raised by equities research analysts at HC Wainwright from $10.00 to $12.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright‘s price target would suggest a potential upside of 80.05% from the stock’s current price.

Several other research firms have also weighed in on OBIO. BTIG Research boosted their price target on Orchestra BioMed from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday. Piper Sandler reissued an “overweight” rating on shares of Orchestra BioMed in a research note on Thursday, October 15th. B. Riley Financial upped their target price on shares of Orchestra BioMed from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Chardan Capital restated a “buy” rating and set a $20.00 price target on shares of Orchestra BioMed in a report on Friday, October 23rd. Finally, Weiss Ratings raised Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 10th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Orchestra BioMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.29.

Orchestra BioMed Trading Up 8.4%

Shares of NASDAQ OBIO traded up $0.52 during midday trading on Friday, hitting $6.67. The stock had a trading volume of 402,594 shares, compared to its average volume of 294,506. The firm has a market cap of $409.56 million, a P/E ratio of -8.89 and a beta of 0.56. Orchestra BioMed has a fifty-two week low of $3.46 and a fifty-two week high of $6.57. The company has a debt-to-equity ratio of 4.58, a current ratio of 7.25 and a quick ratio of 8.24. The company’s 50-day simple moving average is $5.81 and its 200 day simple moving average is $4.61.

Orchestra BioMed (NASDAQ:OBIO) last released its earnings results on Tuesday, November 10th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. The business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.13 million. Orchestra BioMed had a negative net margin of 182.50% and a negative return on equity of 186.93%. Research analysts anticipate that Orchestra BioMed will post -1.53 EPS for the current year.

Insiders Place Their Bets

In related news, insider Darren Sherman sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $4.94, for a total transaction of $74,100.00. Following the completion of the transaction, the insider owned 1,134,402 shares in the company, valued at $5,603,945.88. This represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric S. Fain purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was acquired at an average cost of $5.00 per share, with a total value of $100,000.00. Following the purchase, the director directly owned 119,630 shares of the company’s stock, valued at $598,150. This trade represents a 20.07% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 58,000 shares of company stock worth $288,560 and have sold 45,000 shares worth $255,600. 7.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Orchestra BioMed

A number of large investors have recently added to or reduced their stakes in OBIO. HighTower Advisors LLC lifted its holdings in shares of Orchestra BioMed by 8.7% during the 3rd quarter. HighTower Advisors LLC now owns 38,462 shares of the company’s stock valued at $239,000 after buying an additional 3,087 shares during the period. Knott David M Jr lifted its stake in shares of Orchestra BioMed by 1.5% in the 1st quarter. Knott David M Jr now owns 253,651 shares of the company’s stock valued at $1,078,000 after purchasing an additional 3,651 shares during the last quarter. Algert Global LLC boosted its holdings in shares of Orchestra BioMed by 94.4% in the 2nd quarter. Algert Global LLC now owns 28,486 shares of the company’s stock worth $123,000 after purchasing an additional 13,830 shares during the period. Rice Hall James & Associates LLC bought a new position in shares of Orchestra BioMed during the 1st quarter valued at approximately $81,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Orchestra BioMed during the 2nd quarter valued at approximately $91,000. Institutional investors own 53.20% of the company’s stock.

Orchestra BioMed Company Profile

Orchestra BioMed is a medical technology company that develops therapies for cardiovascular and other diseases, often in collaboration with established medical-device companies. Its work focuses on technologies intended to integrate with existing treatment approaches and devices. The company’s lead program, AVIM therapy, is designed to lower blood pressure in people with pacemakers by adjusting the timing of cardiac pacing. Orchestra BioMed is also developing Virtue SAB, a drug-delivery balloon intended to treat coronary artery disease by delivering sirolimus to blood vessels.