Orchestra BioMed’s (OBIO) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital restated their buy rating on shares of Orchestra BioMed (NASDAQ:OBIO) in a research report released on Thursday,Benzinga reports. The brokerage currently has a $20.00 target price on the stock.

A number of other research firms also recently commented on OBIO. TD Cowen assumed coverage on shares of Orchestra BioMed in a report on Wednesday, December 10th. They set a “buy” rating on the stock. Barclays lifted their price target on shares of Orchestra BioMed from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $13.80.

Orchestra BioMed Trading Down 4.1%

NASDAQ:OBIO opened at $4.20 on Thursday. Orchestra BioMed has a 1 year low of $2.20 and a 1 year high of $5.42. The company has a debt-to-equity ratio of 0.32, a quick ratio of 4.72 and a current ratio of 4.73. The stock has a fifty day moving average price of $4.19 and a two-hundred day moving average price of $3.85. The stock has a market capitalization of $237.17 million, a price-to-earnings ratio of -3.72 and a beta of 0.56.

Orchestra BioMed (NASDAQ:OBIO) last issued its earnings results on Thursday, March 12th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of ($0.38) by $0.64. The company had revenue of $30.92 million for the quarter, compared to analyst estimates of $0.93 million. Orchestra BioMed had a negative net margin of 157.40% and a negative return on equity of 259.65%. As a group, sell-side analysts anticipate that Orchestra BioMed will post -1.66 earnings per share for the current fiscal year.

Institutional Trading of Orchestra BioMed

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Orchestra BioMed by 28.0% during the third quarter. Vanguard Group Inc. now owns 1,481,875 shares of the company’s stock valued at $3,675,000 after acquiring an additional 324,558 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in Orchestra BioMed during the 3rd quarter worth about $3,386,000. Pathstone Holdings LLC acquired a new position in Orchestra BioMed in the 3rd quarter valued at about $2,495,000. Geode Capital Management LLC raised its stake in Orchestra BioMed by 22.4% in the 4th quarter. Geode Capital Management LLC now owns 473,363 shares of the company’s stock valued at $1,965,000 after purchasing an additional 86,564 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Orchestra BioMed by 46.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 263,788 shares of the company’s stock valued at $1,095,000 after purchasing an additional 83,349 shares in the last quarter. 53.20% of the stock is currently owned by hedge funds and other institutional investors.

Orchestra BioMed Company Profile

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.