HC Wainwright Cuts Orchestra BioMed (NASDAQ:OBIO) Price Target to $12.00

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

A number of other analysts also recently commented on OBIO. Chardan Capital restated a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a research note on Tuesday, April 1st. BTIG Research began coverage on shares of Orchestra BioMed in a research report on Thursday, March 20th. They set a “buy” rating and a $12.00 price target on the stock. Finally, Barclays assumed coverage on shares of Orchestra BioMed in a research note on Thursday, January 2nd. They set an “overweight” rating and a $16.00 target price on the stock. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Orchestra BioMed currently has an average rating of “Buy” and a consensus target price of $15.00.

Orchestra BioMed Price Performance

Shares of OBIO opened at $2.76 on Friday. The firm has a market capitalization of $104.92 million, a PE ratio of -1.71 and a beta of 0.62. The company’s fifty day moving average price is $4.71 and its 200-day moving average price is $5.10. Orchestra BioMed has a 1-year low of $2.65 and a 1-year high of $8.87.

Orchestra BioMed (NASDAQ:OBIO) last issued its earnings results on Monday, March 31st. The company reported ($0.43) EPS for the quarter, meeting analysts’ consensus estimates of ($0.43). The firm had revenue of $0.25 million for the quarter, compared to analyst estimates of $0.79 million. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. As a group, research analysts anticipate that Orchestra BioMed will post -1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Orchestra BioMed

Several hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp boosted its holdings in shares of Orchestra BioMed by 12.4% during the 3rd quarter. State Street Corp now owns 429,613 shares of the company’s stock worth $2,208,000 after purchasing an additional 47,308 shares during the last quarter. Barclays PLC increased its stake in shares of 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 acquiring an additional 23,448 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Orchestra BioMed by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 567,219 shares of the company’s stock valued at $2,916,000 after acquiring an additional 11,002 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Orchestra BioMed by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 217,008 shares of the company’s stock valued at $1,115,000 after purchasing an additional 8,107 shares during the period. Finally, SG Americas Securities LLC raised its stake in Orchestra BioMed by 26.0% during the fourth quarter. SG Americas Securities LLC now owns 12,785 shares of the company’s stock worth $51,000 after purchasing an additional 2,642 shares during the period. 53.55% of the stock is owned by hedge funds and other institutional investors.

About Orchestra BioMed

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.