HC Wainwright Has Optimistic Outlook of OBIO FY2024 Earnings

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) – Research analysts at HC Wainwright upped their FY2024 earnings estimates for shares of Orchestra BioMed in a report issued on Thursday, November 14th. HC Wainwright analyst Y. Chen now anticipates that the company will post earnings per share of ($1.65) for the year, up from their prior forecast of ($1.71). HC Wainwright currently has a “Buy” rating and a $14.00 target price on the stock. The consensus estimate for Orchestra BioMed’s current full-year earnings is ($1.67) per share. HC Wainwright also issued estimates for Orchestra BioMed’s Q4 2024 earnings at ($0.42) EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.43) EPS, Q3 2025 earnings at ($0.43) EPS, Q4 2025 earnings at ($0.44) EPS and FY2025 earnings at ($1.72) EPS.

Several other brokerages also recently issued reports on OBIO. Chardan Capital reaffirmed a “buy” rating and issued a $20.00 price target on shares of Orchestra BioMed in a report on Wednesday, November 13th. B. Riley assumed coverage on shares of Orchestra BioMed in a research note on Thursday, July 25th. They issued a “buy” rating and a $15.00 target price for the company.

Orchestra BioMed Stock Down 6.0 %

Shares of NASDAQ:OBIO opened at $5.84 on Monday. The company has a market cap of $221.98 million, a price-to-earnings ratio of -3.63 and a beta of 0.42. The firm’s 50-day simple moving average is $5.42 and its 200-day simple moving average is $6.27. Orchestra BioMed has a fifty-two week low of $4.22 and a fifty-two week high of $11.69.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.41) EPS 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 firm had revenue of $0.99 million for the quarter, compared to analyst estimates of $0.81 million.

Institutional Investors Weigh In On Orchestra BioMed

Several institutional investors and hedge funds have recently made changes to their positions in OBIO. SG Americas Securities LLC bought a new position in shares of Orchestra BioMed in the third 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 lifted its position 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. Institutional investors and hedge funds own 53.55% of the company’s stock.

Insider Activity

In other Orchestra BioMed news, insider Darren Sherman sold 6,804 shares of Orchestra BioMed stock in a transaction on Monday, September 9th. The shares were sold at an average price of $5.48, for a total transaction of $37,285.92. Following the sale, the insider now owns 772,691 shares in the company, valued at $4,234,346.68. The trade was a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 24,260 shares of company stock valued at $138,573 over the last 90 days. 6.70% of the stock is currently owned by company insiders.

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.