Barclays Begins Coverage on Orchestra BioMed (NASDAQ:OBIO)

Investment analysts at Barclays assumed coverage on shares of Orchestra BioMed (NASDAQ:OBIO) in a report issued on Thursday, Marketbeat.com reports. The firm set an “overweight” rating and a $16.00 price target on the stock. Barclays‘s target price indicates a potential upside of 176.34% from the company’s current price.

OBIO has been the subject of several other research reports. HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of Orchestra BioMed in a research note on Friday, November 15th. Chardan Capital restated a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a research report on Wednesday, November 13th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $15.80.

Orchestra BioMed Price Performance

Shares of NASDAQ OBIO opened at $5.79 on Thursday. The company has a market cap of $220.10 million, a price-to-earnings ratio of -3.60 and a beta of 0.44. The stock’s 50-day moving average is $5.38 and its two-hundred day moving average is $6.03. Orchestra BioMed has a 1-year low of $3.96 and a 1-year high of $10.06.

Orchestra BioMed (NASDAQ:OBIO) last issued its earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $0.81 million. Equities research analysts anticipate that Orchestra BioMed will post -1.66 earnings per share for the current fiscal year.

Institutional Trading of Orchestra BioMed

A number of large investors have recently bought and sold shares of the business. RTW Investments LP increased its holdings in shares of Orchestra BioMed by 46.0% in the third quarter. RTW Investments LP now owns 8,206,159 shares of the company’s stock valued at $42,180,000 after purchasing an additional 2,585,519 shares during the period. State Street Corp increased 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 valued at $2,208,000 after buying an additional 47,308 shares during the period. Bank of New York Mellon Corp increased its stake in Orchestra BioMed by 115.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock valued at $576,000 after buying an additional 37,906 shares during the period. Barclays PLC raised its position in Orchestra BioMed by 281.3% during the 3rd quarter. Barclays PLC now owns 31,785 shares of the company’s stock worth $163,000 after buying an additional 23,448 shares during the last quarter. Finally, SkyView Investment Advisors LLC acquired a new stake in shares of Orchestra BioMed in the 2nd quarter worth $163,000. Institutional investors and hedge funds 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.