FY2024 EPS Estimates for Orchestra BioMed Raised by B. Riley

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) – Stock analysts at B. Riley upped their FY2024 EPS estimates for Orchestra BioMed in a research note issued on Wednesday, November 13th. B. Riley analyst K. Bauser now forecasts that the company will post earnings of ($1.67) per share for the year, up from their prior estimate of ($1.70). B. Riley currently has a “Buy” rating and a $15.00 price objective on the stock. The consensus estimate for Orchestra BioMed’s current full-year earnings is ($1.67) per share. B. Riley also issued estimates for Orchestra BioMed’s Q1 2025 earnings at ($0.47) EPS, Q2 2025 earnings at ($0.50) EPS, Q3 2025 earnings at ($0.54) EPS, Q4 2025 earnings at ($0.57) EPS and FY2025 earnings at ($2.08) EPS.

A number of other analysts have also recently commented on OBIO. Chardan Capital reaffirmed a “buy” rating and set a $20.00 price target on shares of Orchestra BioMed in a research report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Orchestra BioMed in a research report on Friday.

Orchestra BioMed Stock Down 6.0 %

Shares of Orchestra BioMed stock opened at $5.84 on Monday. Orchestra BioMed has a twelve month low of $4.22 and a twelve month high of $11.69. The stock has a market cap of $221.98 million, a price-to-earnings ratio of -3.63 and a beta of 0.42. The company’s fifty day moving average is $5.42 and its 200 day moving average is $6.27.

Orchestra BioMed (NASDAQ:OBIO) last issued 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. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. The company had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $0.81 million.

Institutional Investors Weigh In On Orchestra BioMed

A number of institutional investors and hedge funds have recently made changes to their positions in OBIO. RTW Investments LP raised its holdings in shares of Orchestra BioMed by 46.0% in the 3rd quarter. RTW Investments LP now owns 8,206,159 shares of the company’s stock worth $42,180,000 after acquiring an additional 2,585,519 shares during the last quarter. 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 worth $2,208,000 after acquiring an additional 47,308 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Orchestra BioMed by 115.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock worth $576,000 after acquiring an additional 37,906 shares during the last quarter. Barclays PLC raised its holdings in shares of Orchestra BioMed by 281.3% in the 3rd quarter. Barclays PLC now owns 31,785 shares of the company’s stock worth $163,000 after acquiring an additional 23,448 shares during the last quarter. Finally, Catalytic Wealth RIA LLC acquired a new stake in shares of Orchestra BioMed in the 1st quarter worth about $117,000. Institutional investors and hedge funds own 53.55% of the company’s stock.

Insider Activity

In related news, insider Darren Sherman sold 6,819 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $5.65, for a total value of $38,527.35. Following the sale, the insider now owns 779,495 shares in the company, valued at $4,404,146.75. This represents a 0.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 24,260 shares of company stock worth $138,573. Company insiders own 6.70% 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.