Orchestra BioMed (NASDAQ:OBIO) Upgraded at B. Riley

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) was upgraded by stock analysts at B. Riley to a "strong-buy" rating in a research report issued on Thursday, April 3rd,Zacks.com reports.

Several other research firms have also commented on OBIO. BTIG Research assumed coverage on Orchestra BioMed in a research report on Thursday, March 20th. They issued a "buy" rating and a $12.00 price target for the company. Chardan Capital reiterated a "buy" rating and issued a $20.00 target price on shares of Orchestra BioMed in a research note on Tuesday, April 1st. HC Wainwright decreased their price target on shares of Orchestra BioMed from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Finally, Barclays began coverage on shares of Orchestra BioMed in a research report on Thursday, January 2nd. They issued an "overweight" rating and a $16.00 price objective on the stock. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Orchestra BioMed has an average rating of "Buy" and a consensus target price of $15.00.

Orchestra BioMed Trading Down 7.2 %

Shares of Orchestra BioMed stock traded down $0.21 during trading on Thursday, hitting $2.72. 17,606 shares of the stock traded hands, compared to its average volume of 85,382. Orchestra BioMed has a 52-week low of $2.49 and a 52-week high of $8.87. The stock's fifty day simple moving average is $4.45 and its 200 day simple moving average is $5.03. The firm has a market cap of $104.17 million, a P/E ratio of -1.69 and a beta of 0.62.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last announced its quarterly earnings results on Monday, March 31st. The company reported ($0.43) earnings per share for the quarter, hitting the consensus estimate of ($0.43). The firm had revenue of $0.25 million during the quarter, compared to analysts' expectations of $0.79 million. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. As a group, equities analysts expect that Orchestra BioMed will post -1.66 EPS for the current year.

Hedge Funds Weigh In On Orchestra BioMed

Several hedge funds and other institutional investors have recently modified their holdings of OBIO. Charles Schwab Investment Management Inc. increased its stake in 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 purchasing an additional 8,107 shares in the last quarter. State Street Corp grew its stake in Orchestra BioMed by 12.4% during the 3rd quarter. State Street Corp now owns 429,613 shares of the company's stock valued at $2,208,000 after purchasing an additional 47,308 shares during the last quarter. Barclays PLC increased its holdings 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 purchasing an additional 23,448 shares during the period. Geode Capital Management LLC raised its stake in shares of Orchestra BioMed by 2.0% in the third quarter. Geode Capital Management LLC now owns 567,219 shares of the company's stock worth $2,916,000 after purchasing an additional 11,002 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Orchestra BioMed by 26.0% during the fourth quarter. SG Americas Securities LLC now owns 12,785 shares of the company's stock worth $51,000 after purchasing an additional 2,642 shares during the period. 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.