Orchestra BioMed (NASDAQ:OBIO) Now Covered by Analysts at TD Cowen

TD Cowen started coverage on shares of Orchestra BioMed (NASDAQ:OBIO) in a research note released on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $15.00 price target on the stock.

Several other equities research analysts also recently commented on OBIO. Cowen began coverage on shares of Orchestra BioMed in a research report on Wednesday. They set a “buy” rating on the stock. Barclays decreased their price target on shares of Orchestra BioMed from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Wednesday, November 12th. BTIG Research reiterated a “neutral” rating on shares of Orchestra BioMed in a report on Wednesday, August 20th. HC Wainwright reduced their price objective on shares of Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, September 4th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Orchestra BioMed in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $13.60.

Orchestra BioMed Trading Up 11.2%

NASDAQ OBIO opened at $4.67 on Wednesday. The company has a market cap of $263.71 million, a price-to-earnings ratio of -2.57 and a beta of 0.62. Orchestra BioMed has a twelve month low of $2.20 and a twelve month high of $6.30. The company has a quick ratio of 4.72, a current ratio of 4.73 and a debt-to-equity ratio of 0.32. The business’s fifty day moving average is $4.00 and its 200 day moving average is $3.25.

Orchestra BioMed (NASDAQ:OBIO) last posted its earnings results on Monday, November 10th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Orchestra BioMed had a negative net margin of 2,665.05% and a negative return on equity of 320.09%. The firm had revenue of $0.86 million during the quarter, compared to the consensus estimate of $0.74 million. As a group, sell-side analysts expect that Orchestra BioMed will post -1.66 EPS for the current fiscal year.

Institutional Trading of Orchestra BioMed

A number of large investors have recently bought and sold shares of OBIO. Citadel Advisors LLC lifted its stake in shares of Orchestra BioMed by 9.2% in the 3rd quarter. Citadel Advisors LLC now owns 54,002 shares of the company’s stock valued at $134,000 after purchasing an additional 4,561 shares during the period. Bank of America Corp DE lifted its stake in Orchestra BioMed by 35.7% in the second quarter. Bank of America Corp DE now owns 21,577 shares of the company’s stock valued at $58,000 after buying an additional 5,678 shares during the period. Deutsche Bank AG boosted its holdings 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 worth $87,000 after buying an additional 8,134 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Orchestra BioMed during the 2nd quarter worth approximately $31,000. Finally, Creative Planning bought a new stake in shares of Orchestra BioMed in the 2nd quarter valued at $40,000. 53.20% of the stock is currently owned by institutional investors and hedge funds.

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.