Orchestra BioMed (NASDAQ:OBIO) Earns Buy Rating from Chardan Capital

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating reissued by stock analysts at Chardan Capital in a research note issued on Tuesday,Benzinga reports. They currently have a $20.00 target price on the stock. Chardan Capital’s price objective would indicate a potential upside of 468.18% from the stock’s current price.

Several other brokerages have also recently weighed in on OBIO. BTIG Research began coverage on Orchestra BioMed in a research note on Thursday, March 20th. They set a “buy” rating and a $12.00 price objective on the stock. Barclays began coverage on Orchestra BioMed in a research report on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Orchestra BioMed in a research report on Monday, March 10th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $15.40.

Orchestra BioMed Trading Up 8.6 %

OBIO opened at $3.52 on Tuesday. The company has a market cap of $133.81 million, a price-to-earnings ratio of -2.19 and a beta of 0.59. The company’s fifty day moving average price is $4.81 and its two-hundred day moving average price is $5.13. Orchestra BioMed has a 1-year low of $3.07 and a 1-year high of $8.87.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings results on Monday, March 31st. The company reported ($0.43) earnings per share for the quarter, meeting the consensus estimate of ($0.43). The business had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $0.79 million. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. As a group, equities analysts forecast that Orchestra BioMed will post -1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Orchestra BioMed

Several hedge funds and other institutional investors have recently modified their holdings of OBIO. RTW Investments LP boosted its holdings in Orchestra BioMed by 46.0% in the 3rd quarter. RTW Investments LP now owns 8,206,159 shares of the company’s stock valued at $42,180,000 after purchasing an additional 2,585,519 shares during the period. State Street Corp raised its holdings in shares of Orchestra BioMed by 12.4% in the 3rd quarter. State Street Corp now owns 429,613 shares of the company’s stock valued at $2,208,000 after acquiring an additional 47,308 shares in the last quarter. Barclays PLC boosted its position in shares of 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 acquiring an additional 23,448 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Orchestra BioMed by 2.0% during the third quarter. Geode Capital Management LLC now owns 567,219 shares of the company’s stock worth $2,916,000 after purchasing an additional 11,002 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Orchestra BioMed by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 217,008 shares of the company’s stock worth $1,115,000 after buying an additional 8,107 shares in the last quarter. 53.55% of the stock is currently owned by institutional investors.

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.