HC Wainwright Lifts Earnings Estimates for Orchestra BioMed

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) – Research analysts at HC Wainwright lifted their FY2024 earnings estimates for shares of Orchestra BioMed in a research note issued to investors on Thursday, November 14th. HC Wainwright analyst Y. Chen now expects that the company will post earnings per share of ($1.65) for the year, up from their prior forecast of ($1.71). HC Wainwright has a “Buy” rating and a $14.00 price target on the stock. The consensus estimate for Orchestra BioMed’s current full-year earnings is ($1.67) per share. HC Wainwright also issued estimates for Orchestra BioMed’s Q4 2024 earnings at ($0.42) EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.43) EPS, Q3 2025 earnings at ($0.43) EPS, Q4 2025 earnings at ($0.44) EPS and FY2025 earnings at ($1.72) EPS.

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

Several other analysts also recently weighed in on OBIO. B. Riley began coverage on Orchestra BioMed in a report on Thursday, July 25th. They issued a “buy” rating and a $15.00 price objective for the company. Chardan Capital restated a “buy” rating and issued a $20.00 price target on shares of Orchestra BioMed in a report on Wednesday, November 13th.

Orchestra BioMed Trading Down 0.2 %

Shares of OBIO stock opened at $5.83 on Monday. Orchestra BioMed has a twelve month low of $4.22 and a twelve month high of $11.69. The stock has a fifty day simple moving average of $5.42 and a two-hundred day simple moving average of $6.27. The stock has a market capitalization of $221.60 million, a price-to-earnings ratio of -3.62 and a beta of 0.42.

Institutional Investors Weigh In On Orchestra BioMed

Several institutional investors have recently bought and sold shares of OBIO. SG Americas Securities LLC acquired a new stake in Orchestra BioMed in the 3rd quarter worth approximately $52,000. ABLE Financial Group LLC purchased a new position in Orchestra BioMed in the 3rd quarter valued at about $69,000. Catalytic Wealth RIA LLC purchased a new stake in shares of Orchestra BioMed during the first quarter worth approximately $117,000. Barclays PLC raised its position in shares of Orchestra BioMed by 281.3% in the third quarter. Barclays PLC now owns 31,785 shares of the company’s stock valued at $163,000 after buying an additional 23,448 shares during the last quarter. Finally, SkyView Investment Advisors LLC purchased a new stake in shares of Orchestra BioMed in the second quarter valued at approximately $163,000. 53.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Darren Sherman sold 6,804 shares of Orchestra BioMed stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $5.48, for a total value of $37,285.92. Following the transaction, the insider now owns 772,691 shares of the company’s stock, valued at $4,234,346.68. The trade was a 0.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 24,260 shares of company stock worth $138,573 in the last three months. 6.70% of the stock is owned by 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.