B. Riley Lifts Earnings Estimates for Orchestra BioMed

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Free Report) - Research analysts at B. Riley upped their FY2024 earnings per share estimates for shares of Orchestra BioMed in a research note issued on Wednesday, November 13th. B. Riley analyst K. Bauser now forecasts that the company will earn ($1.67) per share for the year, up from their previous estimate of ($1.70). B. Riley currently has a "Buy" rating and a $15.00 target price on the stock. The consensus estimate for Orchestra BioMed's current full-year earnings is ($1.67) per share. B. Riley also issued estimates for Orchestra BioMed's Q1 2025 earnings at ($0.47) EPS, Q2 2025 earnings at ($0.50) EPS, Q3 2025 earnings at ($0.54) EPS, Q4 2025 earnings at ($0.57) EPS and FY2025 earnings at ($2.08) EPS.

Several other research firms have also recently weighed in on OBIO. Chardan Capital reiterated a "buy" rating and set a $20.00 price objective on shares of Orchestra BioMed in a research report on Wednesday, November 13th. HC Wainwright reiterated a "buy" rating and set a $14.00 price target on shares of Orchestra BioMed in a report on Friday.

Orchestra BioMed Price Performance

Orchestra BioMed stock traded down $0.04 during mid-day trading on Monday, hitting $5.80. 9,996 shares of the company's stock traded hands, compared to its average volume of 75,889. The firm has a 50 day simple moving average of $5.42 and a two-hundred day simple moving average of $6.27. Orchestra BioMed has a fifty-two week low of $4.22 and a fifty-two week high of $11.69. The stock has a market cap of $220.46 million, a price-to-earnings ratio of -3.63 and a beta of 0.42.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its position in Orchestra BioMed by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company's stock worth $343,000 after purchasing an additional 3,245 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Orchestra BioMed by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 217,008 shares of the company's stock valued at $1,115,000 after buying an additional 8,107 shares in the last quarter. SG Americas Securities LLC purchased a new position in Orchestra BioMed in the 3rd quarter worth approximately $52,000. Geode Capital Management LLC boosted its position in shares of Orchestra BioMed by 2.0% during the third quarter. Geode Capital Management LLC now owns 567,219 shares of the company's stock valued at $2,916,000 after purchasing an additional 11,002 shares in the last quarter. Finally, ABLE Financial Group LLC bought a new stake in shares of Orchestra BioMed during the third quarter valued at approximately $69,000. Hedge funds and other institutional investors own 53.55% of the company's stock.

Insiders Place Their Bets

In other Orchestra BioMed news, insider Darren Sherman sold 6,819 shares of the business's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $5.65, for a total value of $38,527.35. Following the transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 24,260 shares of company stock valued at $138,573. Insiders own 6.70% of the company's stock.

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.