Orchestra BioMed’s (OBIO) Buy Rating Reiterated at Chardan Capital

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating reiterated by analysts at Chardan Capital in a note issued to investors on Tuesday,Benzinga reports. They currently have a $20.00 price target on the stock.

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

Orchestra BioMed Stock Down 24.3 %

Shares of OBIO opened at $3.24 on Tuesday. The business’s 50-day moving average price is $4.84 and its 200-day moving average price is $5.14. Orchestra BioMed has a twelve month low of $3.17 and a twelve month high of $8.87. The stock has a market cap of $123.17 million, a PE ratio of -2.01 and a beta of 0.59.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. RTW Investments LP increased its stake in shares of Orchestra BioMed by 46.0% in the third quarter. RTW Investments LP now owns 8,206,159 shares of the company’s stock worth $42,180,000 after buying an additional 2,585,519 shares during the period. Boxer Capital Management LLC purchased a new stake in shares of Orchestra BioMed during the fourth quarter worth about $953,000. State Street Corp grew its stake in shares of Orchestra BioMed by 12.4% in the third quarter. State Street Corp now owns 429,613 shares of the company’s stock worth $2,208,000 after purchasing an additional 47,308 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Orchestra BioMed by 354.5% during the 4th quarter. JPMorgan Chase & Co. now owns 49,405 shares of the company’s stock valued at $198,000 after purchasing an additional 38,535 shares during the period. Finally, Barclays PLC lifted its holdings in 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 buying an additional 23,448 shares during the period. Hedge funds and other institutional investors own 53.55% 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.