Research Analysts Offer Predictions for OBIO FY2024 Earnings

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) – Analysts at Chardan Capital dropped their FY2024 EPS estimates for shares of Orchestra BioMed in a report released on Wednesday, November 13th. Chardan Capital analyst K. Nakae now expects that the company will post earnings of ($1.67) per share for the year, down from their prior estimate of ($1.60). Chardan Capital currently has a “Buy” rating and a $20.00 price objective on the stock. The consensus estimate for Orchestra BioMed’s current full-year earnings is ($1.67) per share. Chardan Capital also issued estimates for Orchestra BioMed’s FY2025 earnings at ($1.99) EPS.

A number of other research firms have also issued reports on OBIO. HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Orchestra BioMed in a report on Friday. B. Riley started coverage on shares of Orchestra BioMed in a report on Thursday, July 25th. They set a “buy” rating and a $15.00 price target on the stock.

Orchestra BioMed Price Performance

NASDAQ OBIO opened at $5.84 on Monday. The company’s 50 day simple moving average is $5.42 and its 200 day simple moving average is $6.27. Orchestra BioMed has a 12 month low of $4.22 and a 12 month high of $11.69. The company has a market capitalization of $221.98 million, a P/E ratio of -3.63 and a beta of 0.42.

Orchestra BioMed (NASDAQ:OBIO) last released its earnings results on Tuesday, November 12th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.03. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. The business had revenue of $0.99 million for the quarter, compared to the consensus estimate of $0.81 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in Orchestra BioMed during the third quarter valued at approximately $52,000. ABLE Financial Group LLC purchased a new position in Orchestra BioMed during the third quarter valued at approximately $69,000. Catalytic Wealth RIA LLC bought a new stake in Orchestra BioMed in the first quarter worth approximately $117,000. Barclays PLC grew its position in Orchestra BioMed by 281.3% in the third quarter. Barclays PLC now owns 31,785 shares of the company’s stock worth $163,000 after acquiring an additional 23,448 shares in the last quarter. Finally, SkyView Investment Advisors LLC bought a new stake in Orchestra BioMed in the second quarter worth approximately $163,000. 53.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Darren Sherman sold 6,819 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $5.65, for a total transaction of $38,527.35. Following the transaction, the insider now directly owns 779,495 shares of the company’s stock, valued at approximately $4,404,146.75. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 24,260 shares of company stock worth $138,573 over the last 90 days. 6.70% of the stock is owned by company insiders.

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.