B. Riley Upgrades Orchestra BioMed (NASDAQ:OBIO) to Strong-Buy

Orchestra BioMed (NASDAQ:OBIO) was upgraded by B. Riley to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. BTIG Research initiated coverage on shares of Orchestra BioMed in a report on Thursday, March 20th. They issued a “buy” rating and a $12.00 price objective for the company. Barclays assumed coverage on shares of Orchestra BioMed in a report on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 price target for the company. HC Wainwright dropped their price objective on shares of Orchestra BioMed from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Chardan Capital restated a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a research note on Tuesday. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $15.00.

Orchestra BioMed Stock Performance

Shares of Orchestra BioMed stock opened at $2.76 on Thursday. Orchestra BioMed has a 1 year low of $2.65 and a 1 year high of $8.87. The firm’s 50-day simple moving average is $4.71 and its 200-day simple moving average is $5.10. The firm has a market cap of $104.92 million, a PE ratio of -1.71 and a beta of 0.62.

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

Hedge Funds Weigh In On Orchestra BioMed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OBIO. SG Americas Securities LLC boosted its position in Orchestra BioMed by 26.0% during the 4th quarter. SG Americas Securities LLC now owns 12,785 shares of the company’s stock worth $51,000 after acquiring an additional 2,642 shares during the period. The Manufacturers Life Insurance Company grew its position in Orchestra BioMed by 11.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 37,009 shares of the company’s stock valued at $148,000 after buying an additional 3,704 shares in the last quarter. Wells Fargo & Company MN increased its stake in 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 during the period. Geode Capital Management LLC increased its stake in Orchestra BioMed by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 572,441 shares of the company’s stock valued at $2,290,000 after buying an additional 5,222 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Orchestra BioMed by 2.5% in the 4th quarter. Northern Trust Corp now owns 236,761 shares of the company’s stock worth $947,000 after acquiring an additional 5,725 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.