Orchestra BioMed’s (OBIO) Buy Rating Reaffirmed at HC Wainwright

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report issued on Thursday,Benzinga reports. They currently have a $10.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 146.31% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. Wall Street Zen raised Orchestra BioMed from a “strong sell” rating to a “hold” rating in a report on Saturday, March 14th. Barclays lifted their price objective on Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday. Weiss Ratings cut Orchestra BioMed from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, April 21st. Finally, Chardan Capital reissued a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a report on Thursday, March 12th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Orchestra BioMed currently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

Orchestra BioMed Price Performance

Shares of Orchestra BioMed stock opened at $4.06 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 6.43 and a current ratio of 6.45. The firm’s 50-day simple moving average is $4.31 and its 200-day simple moving average is $4.27. Orchestra BioMed has a twelve month low of $2.20 and a twelve month high of $5.42. The firm has a market cap of $243.11 million, a P/E ratio of -4.19 and a beta of 0.52.

Orchestra BioMed (NASDAQ:OBIO) last issued its earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.07. Orchestra BioMed had a negative net margin of 166.96% and a negative return on equity of 167.93%. The business had revenue of $0.11 million for the quarter, compared to analyst estimates of $0.92 million. As a group, research analysts expect that Orchestra BioMed will post -1.68 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OBIO. China Universal Asset Management Co. Ltd. acquired a new position in shares of Orchestra BioMed during the 4th quarter worth approximately $38,000. Creative Planning acquired a new position in shares of Orchestra BioMed during the 2nd quarter worth approximately $40,000. XTX Topco Ltd acquired a new position in shares of Orchestra BioMed during the 2nd quarter worth approximately $45,000. Jane Street Group LLC acquired a new position in shares of Orchestra BioMed during the 2nd quarter worth approximately $50,000. Finally, Virtu Financial LLC acquired a new position in shares of Orchestra BioMed during the 4th quarter worth approximately $57,000. 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.