Orchestra BioMed (NASDAQ:OBIO) Price Target Lowered to $12.00 at Barclays

Orchestra BioMed (NASDAQ:OBIO) had its target price reduced by Barclays from $16.00 to $12.00 in a research note published on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

OBIO has been the topic of several other reports. B. Riley raised Orchestra BioMed to a “strong-buy” rating in a research note on Thursday, April 3rd. Chardan Capital restated a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a research note on Tuesday, April 22nd. BTIG Research assumed coverage on Orchestra BioMed in a research note on Thursday, March 20th. They issued a “buy” rating and a $12.00 target price for the company. Finally, HC Wainwright reissued a “buy” rating on shares of Orchestra BioMed in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $14.20.

Orchestra BioMed Price Performance

Orchestra BioMed stock opened at $2.56 on Monday. The stock has a market capitalization of $98.08 million, a P/E ratio of -1.59 and a beta of 0.67. The firm’s 50-day moving average is $3.50 and its two-hundred day moving average is $4.74. Orchestra BioMed has a 12-month low of $2.43 and a 12-month high of $8.87.

Orchestra BioMed (NASDAQ:OBIO) last released its earnings results on Monday, March 31st. The company reported ($0.43) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.43). The business had revenue of $0.25 million for the quarter, compared to analysts’ expectations 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, analysts forecast that Orchestra BioMed will post -1.66 EPS for the current year.

Hedge Funds Weigh In On Orchestra BioMed

Several large investors have recently added to or reduced their stakes in OBIO. Geode Capital Management LLC grew 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 worth $2,290,000 after buying an additional 5,222 shares during the last quarter. Barclays PLC grew its position in Orchestra BioMed by 281.3% in the 3rd quarter. Barclays PLC now owns 31,785 shares of the company’s stock worth $163,000 after purchasing an additional 23,448 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Orchestra BioMed by 26.0% in 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 during the period. HighTower Advisors LLC raised its holdings in shares of Orchestra BioMed by 34.3% during the fourth quarter. HighTower Advisors LLC now owns 68,500 shares of the company’s stock valued at $274,000 after buying an additional 17,500 shares during the last quarter. Finally, Boxer Capital Management LLC acquired a new position in shares of Orchestra BioMed during the fourth quarter worth approximately $953,000. 53.55% of the stock is currently 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.