Orchestra BioMed (NASDAQ:OBIO) Given New $12.00 Price Target at HC Wainwright

Orchestra BioMed (NASDAQ:OBIO) had its target price reduced by HC Wainwright from $14.00 to $12.00 in a report published on Friday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on OBIO. Chardan Capital reissued a “buy” rating and issued a $20.00 price target on shares of Orchestra BioMed in a research note on Tuesday. BTIG Research assumed coverage on shares of Orchestra BioMed in a report on Thursday, March 20th. They set a “buy” rating and a $12.00 price target for the company. Finally, Barclays started coverage on shares of Orchestra BioMed in a research report on Thursday, January 2nd. They set an “overweight” rating and a $16.00 price objective for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $15.00.

Orchestra BioMed Price Performance

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

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings results on Monday, March 31st. The company reported ($0.43) earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $0.25 million during the quarter, compared to the consensus estimate of $0.79 million. As a group, research analysts anticipate that Orchestra BioMed will post -1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of OBIO. SG Americas Securities LLC grew its stake in shares of Orchestra BioMed by 26.0% in the 4th quarter. SG Americas Securities LLC now owns 12,785 shares of the company’s stock valued at $51,000 after buying an additional 2,642 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Orchestra BioMed by 43.6% during the fourth quarter. Wells Fargo & Company MN now owns 13,156 shares of the company’s stock valued at $53,000 after acquiring an additional 3,992 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Orchestra BioMed during the fourth quarter worth approximately $86,000. Bank of America Corp DE increased its stake in 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 purchasing an additional 7,036 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Orchestra BioMed by 11.1% during the fourth 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 during the last quarter. Institutional investors and hedge funds 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.