Orchestra BioMed (NASDAQ:OBIO) Given New $11.00 Price Target at Barclays

Orchestra BioMed (NASDAQ:OBIO) had its target price cut by Barclays from $12.00 to $11.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

OBIO has been the subject of several other reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Orchestra BioMed in a report on Wednesday, October 8th. BTIG Research reissued a “neutral” rating on shares of Orchestra BioMed in a report on Wednesday, August 20th. Chardan Capital restated a “buy” rating and set a $20.00 price target on shares of Orchestra BioMed in a research report on Wednesday, August 13th. Finally, HC Wainwright cut their price objective on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.25.

Orchestra BioMed Price Performance

Shares of Orchestra BioMed stock traded down $0.24 during trading on Wednesday, hitting $4.18. 656,763 shares of the company’s stock traded hands, compared to its average volume of 298,536. The company has a market cap of $236.02 million, a PE ratio of -2.30 and a beta of 0.65. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.73 and a quick ratio of 2.09. Orchestra BioMed has a twelve month low of $2.20 and a twelve month high of $6.50. The firm’s fifty day moving average price is $3.16 and its 200 day moving average price is $2.98.

Orchestra BioMed (NASDAQ:OBIO) last issued its earnings results on Monday, November 10th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). The company had revenue of $0.86 million during the quarter, compared to analyst estimates of $0.74 million. Orchestra BioMed had a negative return on equity of 320.09% and a negative net margin of 2,665.05%. Analysts forecast that Orchestra BioMed will post -1.66 earnings per share for the current year.

Institutional Investors Weigh In On Orchestra BioMed

Several institutional investors have recently modified their holdings of OBIO. IFP Advisors Inc boosted its stake in Orchestra BioMed by 106.4% in the first quarter. IFP Advisors Inc now owns 161,921 shares of the company’s stock valued at $693,000 after acquiring an additional 83,481 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Orchestra BioMed by 67.3% in the 1st quarter. Deutsche Bank AG now owns 20,219 shares of the company’s stock valued at $87,000 after purchasing an additional 8,134 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Orchestra BioMed in the 2nd quarter worth $122,000. Nuveen LLC acquired a new stake in shares of Orchestra BioMed during the first quarter worth $179,000. Finally, Tower Research Capital LLC TRC increased its holdings in Orchestra BioMed by 1,137.7% in the second quarter. Tower Research Capital LLC TRC now owns 27,922 shares of the company’s stock valued at $75,000 after purchasing an additional 25,666 shares during the last quarter. Institutional investors and hedge funds own 53.20% of the company’s stock.

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.