HC Wainwright Has Positive Estimate for OBIO FY2024 Earnings

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Free Report) - Equities research analysts at HC Wainwright raised their FY2024 earnings per share (EPS) estimates for Orchestra BioMed in a report issued on Thursday, November 14th. HC Wainwright analyst Y. Chen now forecasts that the company will post earnings per share of ($1.65) for the year, up from their previous forecast of ($1.71). HC Wainwright currently has a "Buy" rating and a $14.00 target price 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.

A number of other analysts have also recently commented on OBIO. B. Riley assumed coverage on Orchestra BioMed in a research report on Thursday, July 25th. They set a "buy" rating and a $15.00 price target for the company. Chardan Capital reiterated a "buy" rating and set a $20.00 price objective on shares of Orchestra BioMed in a research note on Wednesday, November 13th.

Orchestra BioMed Trading Down 0.7 %

Shares of OBIO traded down $0.04 during trading hours on Monday, hitting $5.80. The company had a trading volume of 9,996 shares, compared to its average volume of 75,889. The company has a market capitalization of $220.46 million, a PE ratio of -3.63 and a beta of 0.42. The company's fifty day moving average price is $5.42 and its two-hundred day moving average price is $6.27. Orchestra BioMed has a one year low of $4.22 and a one year high of $11.69.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $0.99 million during the quarter, compared to the consensus estimate of $0.81 million.

Insider Buying and Selling

In other news, insider Darren Sherman sold 6,837 shares of the company's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $6.10, for a total value of $41,705.70. Following the completion of the transaction, the insider now owns 793,275 shares in the company, valued at approximately $4,838,977.50. This represents a 0.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 24,260 shares of company stock valued at $138,573 in the last ninety days. Company insiders own 6.70% of the company's stock.

Hedge Funds Weigh In On Orchestra BioMed

A number of large investors have recently bought and sold shares of OBIO. SG Americas Securities LLC purchased a new position in Orchestra BioMed during the 3rd quarter worth $52,000. ABLE Financial Group LLC purchased a new position in shares of Orchestra BioMed in the 3rd quarter valued at about $69,000. Catalytic Wealth RIA LLC purchased a new position in shares of Orchestra BioMed in the 1st quarter valued at about $117,000. Barclays PLC increased its holdings 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 in the last quarter. Finally, SkyView Investment Advisors LLC purchased a new position in shares of Orchestra BioMed in the 2nd quarter valued at about $163,000. Hedge funds and other institutional investors own 53.55% 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.