Orchestra BioMed (NASDAQ:OBIO) Earns Buy Rating from Chardan Capital

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

A number of other research analysts also recently issued reports on OBIO. B. Riley upgraded shares of Orchestra BioMed to a “strong-buy” rating in a research report on Thursday, April 3rd. Barclays dropped their price target on shares of Orchestra BioMed from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. HC Wainwright restated a “buy” rating on shares of Orchestra BioMed in a research report on Wednesday, April 23rd. Finally, BTIG Research started coverage on shares of Orchestra BioMed in a research report on Thursday, March 20th. They issued a “buy” rating and a $12.00 price target on the stock. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Orchestra BioMed presently has a consensus rating of “Buy” and an average price target of $14.20.

Orchestra BioMed Price Performance

NASDAQ:OBIO opened at $2.82 on Tuesday. The firm’s 50 day simple moving average is $3.27 and its 200 day simple moving average is $4.61. Orchestra BioMed has a one year low of $2.37 and a one year high of $8.87. The company has a market cap of $108.04 million, a PE ratio of -1.75 and a beta of 0.67.

Orchestra BioMed (NASDAQ:OBIO) last posted its earnings results on Monday, May 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.03). The business had revenue of $0.87 million for the quarter, compared to analyst estimates of $0.39 million. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. Equities research analysts expect that Orchestra BioMed will post -1.66 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Nuveen LLC acquired a new position in shares of Orchestra BioMed during the 1st quarter valued at $179,000. Deutsche Bank AG lifted its position in shares of Orchestra BioMed by 67.3% during the 1st quarter. Deutsche Bank AG now owns 20,219 shares of the company’s stock valued at $87,000 after acquiring an additional 8,134 shares during the period. IFP Advisors Inc lifted its position in shares of Orchestra BioMed by 106.4% during the 1st quarter. IFP Advisors Inc now owns 161,921 shares of the company’s stock valued at $693,000 after acquiring an additional 83,481 shares during the period. Millennium Management LLC acquired a new position in shares of Orchestra BioMed during the 4th quarter valued at $86,000. Finally, Bank of America Corp DE lifted its position in shares of Orchestra BioMed by 42.0% during the 4th quarter. Bank of America Corp DE now owns 23,780 shares of the company’s stock valued at $95,000 after acquiring an additional 7,036 shares during the period. Institutional investors and hedge funds own 53.55% 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.