Orchestra BioMed (NASDAQ:OBIO) Now Covered by Analysts at Barclays

Barclays started coverage on shares of Orchestra BioMed (NASDAQ:OBIO) in a report released on Thursday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $16.00 target price on the stock.

A number of other equities research analysts have also issued reports on the stock. Chardan Capital reiterated a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of Orchestra BioMed in a research report on Friday, November 15th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $15.80.

Orchestra BioMed Stock Up 7.6 %

NASDAQ:OBIO opened at $5.79 on Thursday. Orchestra BioMed has a 52 week low of $3.96 and a 52 week high of $10.06. The stock’s fifty day moving average is $5.38 and its two-hundred day moving average is $6.01. The stock has a market capitalization of $220.10 million, a price-to-earnings ratio of -3.60 and a beta of 0.44.

Orchestra BioMed (NASDAQ:OBIO) last announced its earnings results on Tuesday, November 12th. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03. The company had revenue of $0.99 million during the quarter, compared to analysts’ expectations of $0.81 million. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. On average, sell-side analysts expect that Orchestra BioMed will post -1.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Orchestra BioMed

Several institutional investors have recently added to or reduced their stakes in OBIO. Bank of New York Mellon Corp raised its holdings in Orchestra BioMed by 115.7% during the second quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock worth $576,000 after purchasing an additional 37,906 shares in the last quarter. Rhumbline Advisers boosted its stake in Orchestra BioMed by 192.7% in the second quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock valued at $215,000 after acquiring an additional 17,405 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Orchestra BioMed by 8.4% during the second quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company’s stock worth $343,000 after purchasing an additional 3,245 shares during the last quarter. SkyView Investment Advisors LLC acquired a new stake in shares of Orchestra BioMed during the second quarter worth about $163,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Orchestra BioMed in the 3rd quarter valued at about $52,000. Hedge funds and other institutional investors own 53.55% of the company’s stock.

About Orchestra BioMed

Orchestra BioMed Holdings, Inc operates as a biomedical innovation company. The company’s flagship product candidates include BackBeat Cardiac Neuromodulation Therapy (CNT) for the treatment of hypertension (HTN); and Virtue Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease.