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

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

Other analysts have also recently issued research reports about the company. Chardan Capital reiterated a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a research report on Tuesday. BTIG Research assumed coverage on Orchestra BioMed in a research note on Thursday, March 20th. They issued a “buy” rating and a $12.00 price objective for the company. HC Wainwright lowered their target price on shares of Orchestra BioMed from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Barclays started coverage on shares of Orchestra BioMed in a report on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 target price on the stock. 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, Orchestra BioMed presently has a consensus rating of “Buy” and a consensus target price of $15.00.

Orchestra BioMed Stock Down 11.3 %

OBIO stock opened at $2.76 on Thursday. The business has a 50 day moving average price of $4.71 and a 200 day moving average price of $5.10. The stock has a market cap of $104.92 million, a price-to-earnings ratio of -1.71 and a beta of 0.62. Orchestra BioMed has a fifty-two week low of $2.65 and a fifty-two week high of $8.87.

Orchestra BioMed (NASDAQ:OBIO) last issued its quarterly earnings data on Monday, March 31st. The company reported ($0.43) earnings per share for the quarter, hitting the consensus estimate of ($0.43). The business had revenue of $0.25 million during the quarter, compared to the consensus estimate of $0.79 million. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. As a group, sell-side analysts anticipate that Orchestra BioMed will post -1.66 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Orchestra BioMed by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 572,441 shares of the company’s stock worth $2,290,000 after purchasing an additional 5,222 shares during the period. State Street Corp lifted its stake 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 worth $2,208,000 after acquiring an additional 47,308 shares during the period. Boxer Capital Management LLC purchased a new stake in shares of Orchestra BioMed in the fourth quarter valued at about $953,000. Northern Trust Corp increased its stake in shares of Orchestra BioMed by 2.5% during the fourth 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. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Orchestra BioMed by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 217,008 shares of the company’s stock worth $1,115,000 after acquiring an additional 8,107 shares during the period. 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.