Equities Analysts Offer Predictions for OBIO FY2024 Earnings

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) – Investment analysts at HC Wainwright raised their FY2024 earnings per share estimates for shares of Orchestra BioMed in a research note issued to investors on Thursday, November 14th. HC Wainwright analyst Y. Chen now forecasts that the company will post earnings of ($1.65) per share 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.

Several other brokerages also recently weighed in on OBIO. B. Riley assumed coverage on Orchestra BioMed in a report on Thursday, July 25th. They issued 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 report on Wednesday, November 13th.

Orchestra BioMed Trading Down 11.3 %

NASDAQ:OBIO opened at $5.17 on Monday. The firm has a market cap of $196.53 million, a price-to-earnings ratio of -3.21 and a beta of 0.42. The company’s 50-day moving average is $5.41 and its two-hundred day moving average is $6.27. Orchestra BioMed has a 12-month low of $4.22 and a 12-month high of $11.69.

Orchestra BioMed (NASDAQ:OBIO) last posted its earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03. The firm had revenue of $0.99 million for the quarter, compared to analyst estimates of $0.81 million. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%.

Institutional Investors Weigh In On Orchestra BioMed

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in shares of Orchestra BioMed in the 3rd quarter valued at $52,000. ABLE Financial Group LLC acquired a new position in Orchestra BioMed during the 3rd quarter worth approximately $69,000. Catalytic Wealth RIA LLC purchased a new position in Orchestra BioMed in the 1st quarter worth approximately $117,000. Barclays PLC grew its position in 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 acquiring an additional 23,448 shares in the last quarter. Finally, SkyView Investment Advisors LLC purchased a new stake in shares of Orchestra BioMed during the second quarter valued at approximately $163,000. 53.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Orchestra BioMed

In related news, insider Darren Sherman sold 6,804 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $5.48, for a total transaction of $37,285.92. Following the completion of the sale, the insider now owns 772,691 shares of the company’s stock, valued at approximately $4,234,346.68. This represents a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 24,260 shares of company stock worth $138,573. 6.70% of the stock is owned by insiders.

About Orchestra BioMed

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.