HC Wainwright Has Positive Forecast for OBIO FY2024 Earnings

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) – Analysts at HC Wainwright lifted their FY2024 EPS estimates for shares of Orchestra BioMed in a report released on Thursday, November 14th. HC Wainwright analyst Y. Chen now expects that the company will post earnings per share of ($1.65) for the year, up from their prior estimate 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.

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

Several other brokerages have also recently issued reports on OBIO. Chardan Capital restated a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a report on Wednesday, November 13th. B. Riley initiated coverage on Orchestra BioMed in a report on Thursday, July 25th. They set a “buy” rating and a $15.00 price objective on the stock.

Orchestra BioMed Stock Down 11.3 %

Shares of Orchestra BioMed stock opened at $5.17 on Monday. Orchestra BioMed has a 52 week low of $4.22 and a 52 week high of $11.69. The firm’s 50 day moving average is $5.41 and its two-hundred day moving average is $6.27. The firm has a market capitalization of $196.53 million, a P/E ratio of -3.21 and a beta of 0.42.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of OBIO. RTW Investments LP raised its position in Orchestra BioMed by 46.0% during the 3rd 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 last quarter. State Street Corp lifted 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 buying an additional 47,308 shares during the period. Bank of New York Mellon Corp grew its holdings in Orchestra BioMed by 115.7% during the second 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 period. Barclays PLC raised its position in Orchestra BioMed by 281.3% in the third quarter. Barclays PLC now owns 31,785 shares of the company’s stock worth $163,000 after acquiring an additional 23,448 shares in the last quarter. Finally, Catalytic Wealth RIA LLC purchased a new position in shares of Orchestra BioMed in the 1st quarter valued at about $117,000. 53.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Orchestra BioMed

In other news, insider Darren Sherman sold 6,804 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $5.48, for a total transaction of $37,285.92. Following the completion of the sale, the insider now owns 772,691 shares in the company, valued at approximately $4,234,346.68. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 24,260 shares of company stock worth $138,573. 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.