Research Analysts Offer Predictions for OBIO FY2024 Earnings

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) – Equities researchers at Chardan Capital dropped their FY2024 EPS estimates for shares of Orchestra BioMed in a note issued to investors on Wednesday, November 13th. Chardan Capital analyst K. Nakae now expects that the company will post earnings of ($1.67) per share for the year, down from their previous forecast of ($1.60). Chardan Capital has a “Buy” rating and a $20.00 price target on the stock. The consensus estimate for Orchestra BioMed’s current full-year earnings is ($1.67) per share. Chardan Capital also issued estimates for Orchestra BioMed’s FY2025 earnings at ($1.99) EPS.

Several other research analysts have also weighed in on the stock. B. Riley started coverage on shares of Orchestra BioMed in a report on Thursday, July 25th. They set a “buy” rating and a $15.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $14.00 price objective on shares of Orchestra BioMed in a report on Friday.

Orchestra BioMed Price Performance

Shares of OBIO stock opened at $5.84 on Monday. The firm has a market cap of $221.98 million, a P/E ratio of -3.63 and a beta of 0.42. Orchestra BioMed has a 1-year low of $4.22 and a 1-year high of $11.69. The firm has a fifty day moving average of $5.42 and a two-hundred day moving average of $6.27.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.03. The company had revenue of $0.99 million during the quarter, compared to analyst estimates of $0.81 million. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Orchestra BioMed during the 3rd quarter valued at about $52,000. ABLE Financial Group LLC acquired a new position in Orchestra BioMed during the 3rd quarter valued at about $69,000. Catalytic Wealth RIA LLC acquired a new position in Orchestra BioMed during the 1st quarter valued at about $117,000. Barclays PLC boosted its stake in Orchestra BioMed by 281.3% during the 3rd quarter. Barclays PLC now owns 31,785 shares of the company’s stock valued at $163,000 after purchasing an additional 23,448 shares during the period. Finally, SkyView Investment Advisors LLC acquired a new position in Orchestra BioMed during the 2nd quarter valued at about $163,000. 53.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Darren Sherman sold 6,804 shares of Orchestra BioMed stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $5.48, for a total value of $37,285.92. Following the completion of the transaction, the insider now directly owns 772,691 shares of the company’s stock, valued at approximately $4,234,346.68. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 24,260 shares of company stock valued at $138,573. Company insiders own 6.70% of the company’s stock.

Orchestra BioMed Company Profile

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.