FY2024 EPS Forecast for Orchestra BioMed Lifted by Analyst

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) – Research analysts at B. Riley upped their FY2024 EPS estimates for shares of Orchestra BioMed in a research note issued to investors on Wednesday, November 13th. B. Riley analyst K. Bauser now anticipates that the company will earn ($1.67) per share for the year, up from their previous 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 equities analysts have also issued research reports about the stock. Chardan Capital restated a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Orchestra BioMed in a research note on Friday, November 15th.

Orchestra BioMed Price Performance

Shares of OBIO stock opened at $5.17 on Monday. The stock has a market capitalization of $196.53 million, a PE ratio of -3.21 and a beta of 0.42. The business’s 50 day simple moving average is $5.41 and its 200 day simple moving average 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) last announced its earnings results on Tuesday, November 12th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.03. The firm had revenue of $0.99 million for the quarter, compared to the consensus estimate of $0.81 million. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%.

Hedge Funds Weigh In On Orchestra BioMed

Hedge funds have recently added to or reduced their stakes in the stock. RTW Investments LP raised its stake 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 worth $42,180,000 after purchasing an additional 2,585,519 shares during the last quarter. Geode Capital Management LLC raised its position in Orchestra BioMed by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 567,219 shares of the company’s stock valued at $2,916,000 after buying an additional 11,002 shares during the last quarter. State Street Corp raised its position 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 last quarter. Charles Schwab Investment Management Inc. lifted 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 acquiring an additional 8,107 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of 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 worth $576,000 after acquiring an additional 37,906 shares in the last quarter. Institutional investors and hedge funds own 53.55% of the company’s stock.

Insider Activity

In related news, insider Darren Sherman sold 6,837 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $6.10, for a total value of $41,705.70. Following the transaction, the insider now directly owns 793,275 shares in the company, valued at $4,838,977.50. This trade represents a 0.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 24,260 shares of company stock worth $138,573 in the last three months. Company insiders own 6.70% 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.