BTIG Research Issues Positive Forecast for Orchestra BioMed (NASDAQ:OBIO) Stock Price

Orchestra BioMed (NASDAQ:OBIO) had its price objective hoisted by analysts at BTIG Research from $10.00 to $12.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research‘s price objective points to a potential upside of 95.12% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Weiss Ratings upgraded shares of Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 10th. Piper Sandler reaffirmed an “overweight” rating on shares of Orchestra BioMed in a research note on Thursday, October 15th. HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Orchestra BioMed in a report on Monday, October 5th. B. Riley Financial boosted their target price on Orchestra BioMed from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, September 15th. Finally, Chardan Capital reissued a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a research note on Friday, October 23rd. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $13.00.

Orchestra BioMed Stock Performance

Shares of NASDAQ:OBIO opened at $6.15 on Friday. Orchestra BioMed has a 52 week low of $3.46 and a 52 week high of $6.50. The company has a quick ratio of 8.24, a current ratio of 7.25 and a debt-to-equity ratio of 4.58. The company has a 50 day moving average price of $5.81 and a two-hundred day moving average price of $4.61.

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

Insider Activity at Orchestra BioMed

In related news, Director David Pacitti acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The shares were acquired at an average cost of $5.00 per share, for a total transaction of $100,000.00. Following the completion of the acquisition, the director directly owned 74,750 shares in the company, valued at approximately $373,750. The trade was a 36.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David P. Hochman purchased 10,000 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was purchased 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 approximately $5,128,873.34. This represents a 0.94% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 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.

Hedge Funds Weigh In On Orchestra BioMed

Hedge funds have recently modified their holdings of the stock. Rice Hall James & Associates LLC bought a new position in Orchestra BioMed in the first quarter valued at approximately $81,000. Canada Pension Plan Investment Board acquired a new position in shares of Orchestra BioMed during the 2nd quarter worth approximately $91,000. Bank of America Corp DE bought a new stake in shares of Orchestra BioMed during the 2nd quarter worth approximately $103,000. AXQ Capital LP bought a new stake in shares of Orchestra BioMed during the 2nd quarter worth approximately $110,000. Finally, Algert Global LLC raised its stake in shares of Orchestra BioMed by 94.4% during 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 in the last quarter. Institutional investors own 53.20% of the company’s stock.

About Orchestra BioMed

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.