Barclays Initiates Coverage on Orchestra BioMed (NASDAQ:OBIO)

Barclays started coverage on shares of Orchestra BioMed (NASDAQ:OBIO) in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $16.00 price target on the stock. Barclays‘s price target would indicate a potential upside of 176.34% from the stock’s current price.

A number of other analysts have also issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of Orchestra BioMed in a research note on Friday, November 15th. Chardan Capital reaffirmed a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a report on Wednesday, November 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $15.80.

Orchestra BioMed Stock Performance

Shares of NASDAQ OBIO opened at $5.79 on Thursday. The firm has a fifty day moving average of $5.38 and a 200 day moving average of $6.03. The firm has a market cap of $220.10 million, a PE ratio of -3.60 and a beta of 0.44. Orchestra BioMed has a one year low of $3.96 and a one year high of $10.06.

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 during the quarter, compared to analysts’ expectations of $0.81 million. On average, equities analysts predict that Orchestra BioMed will post -1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Orchestra BioMed

A number of institutional investors have recently bought and sold shares of OBIO. SG Americas Securities LLC acquired a new stake in shares of Orchestra BioMed during the 3rd quarter worth approximately $52,000. ABLE Financial Group LLC purchased a new position in Orchestra BioMed in the third quarter worth approximately $69,000. SkyView Investment Advisors LLC acquired a new stake in Orchestra BioMed during the second quarter worth $163,000. Rhumbline Advisers raised its position in Orchestra BioMed by 192.7% in the second quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock valued at $215,000 after purchasing an additional 17,405 shares during the period. Finally, Barclays PLC lifted 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 valued at $163,000 after purchasing an additional 23,448 shares during the last quarter. 53.55% of the stock is owned by hedge funds and other institutional investors.

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.