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

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

Other analysts have also issued reports about the stock. 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 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of Orchestra BioMed in a report on Monday, March 10th. Finally, 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. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $15.40.

Orchestra BioMed Price Performance

OBIO opened at $3.52 on Tuesday. The stock’s 50 day simple moving average is $4.81 and its 200 day simple moving average is $5.13. The firm has a market cap of $133.81 million, a price-to-earnings ratio of -2.19 and a beta of 0.59. Orchestra BioMed has a 1 year low of $3.07 and a 1 year high of $8.87.

Orchestra BioMed (NASDAQ:OBIO) last issued its earnings results on Monday, March 31st. The company reported ($0.43) EPS for the quarter, hitting the consensus estimate of ($0.43). 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 $0.25 million for the quarter, compared to the consensus estimate of $0.79 million. As a group, sell-side analysts anticipate that Orchestra BioMed will post -1.66 EPS for the current year.

Institutional Trading of Orchestra BioMed

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in shares of Orchestra BioMed by 26.0% during the fourth quarter. SG Americas Securities LLC now owns 12,785 shares of the company’s stock valued at $51,000 after purchasing an additional 2,642 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Orchestra BioMed by 43.6% during the 4th quarter. Wells Fargo & Company MN now owns 13,156 shares of the company’s stock valued at $53,000 after buying an additional 3,992 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Orchestra BioMed in the 4th quarter worth about $86,000. Bank of America Corp DE increased its stake in shares of Orchestra BioMed by 42.0% in the 4th quarter. Bank of America Corp DE now owns 23,780 shares of the company’s stock worth $95,000 after acquiring an additional 7,036 shares in the last quarter. Finally, 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 acquiring an additional 23,448 shares during the period. 53.55% of the stock is owned by institutional investors.

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.