FY2024 EPS Estimates for Orchestra BioMed Raised by B. Riley

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) – Research analysts at B. Riley increased their FY2024 earnings estimates for shares of Orchestra BioMed in a note issued to investors on Wednesday, November 13th. B. Riley analyst K. Bauser now expects that the company will earn ($1.67) per share for the year, up from their prior estimate of ($1.70). B. Riley has a “Buy” rating and a $15.00 price objective 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.

Other research analysts also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and set a $14.00 target price on shares of Orchestra BioMed in a research report on Friday. Chardan Capital reissued a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a research report on Wednesday, November 13th.

Orchestra BioMed Stock Down 6.0 %

Orchestra BioMed stock opened at $5.84 on Monday. Orchestra BioMed has a twelve month low of $4.22 and a twelve month high of $11.69. The firm has a 50 day moving average price of $5.42 and a 200-day moving average price of $6.27. The company has a market capitalization of $221.98 million, a P/E ratio of -3.63 and a beta of 0.42.

Orchestra BioMed (NASDAQ:OBIO) last released its earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, beating 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 firm had revenue of $0.99 million during the quarter, compared to the consensus estimate of $0.81 million.

Insider Buying and Selling

In other Orchestra BioMed news, insider Darren Sherman sold 6,819 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $5.65, for a total value of $38,527.35. Following the sale, the insider now directly owns 779,495 shares in the company, valued at $4,404,146.75. This represents a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 24,260 shares of company stock valued at $138,573. Company insiders own 6.70% of the company’s stock.

Institutional Trading of Orchestra BioMed

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in Orchestra BioMed by 2.0% in the 3rd 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 in the last quarter. Barclays PLC lifted its stake in Orchestra BioMed by 281.3% in the 3rd quarter. Barclays PLC now owns 31,785 shares of the company’s stock worth $163,000 after purchasing an additional 23,448 shares in the last quarter. State Street Corp lifted its stake in Orchestra BioMed by 12.4% in the 3rd quarter. State Street Corp now owns 429,613 shares of the company’s stock worth $2,208,000 after purchasing an additional 47,308 shares in the last quarter. RTW Investments LP lifted its stake in Orchestra BioMed by 46.0% in the 3rd quarter. RTW Investments LP now owns 8,206,159 shares of the company’s stock worth $42,180,000 after purchasing an additional 2,585,519 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Orchestra BioMed by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 217,008 shares of the company’s stock worth $1,115,000 after purchasing an additional 8,107 shares in the last quarter. 53.55% of the stock is currently 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.