What is HC Wainwright’s Estimate for OBIO FY2024 Earnings?

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) – Stock analysts at HC Wainwright raised their FY2024 EPS estimates for Orchestra BioMed in a research report issued on Thursday, November 14th. HC Wainwright analyst Y. Chen now forecasts that the company will post earnings per share of ($1.65) for the year, up from their previous estimate of ($1.71). HC Wainwright currently has a “Buy” rating and a $14.00 price target 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.

Orchestra BioMed (NASDAQ:OBIO) last released 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. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. The firm had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $0.81 million.

Several other brokerages have also recently commented on OBIO. Chardan Capital reiterated a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a report on Wednesday, November 13th. B. Riley started coverage on Orchestra BioMed in a report on Thursday, July 25th. They issued a “buy” rating and a $15.00 target price on the stock.

Orchestra BioMed Trading Down 6.0 %

NASDAQ:OBIO opened at $5.84 on Monday. The stock has a market cap of $221.98 million, a P/E ratio of -3.63 and a beta of 0.42. The stock’s 50-day moving average is $5.42 and its 200-day moving average is $6.27. Orchestra BioMed has a 1-year low of $4.22 and a 1-year high of $11.69.

Insider Buying and Selling at Orchestra BioMed

In other Orchestra BioMed news, insider Darren Sherman sold 6,837 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,838,977.50. The trade was a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 24,260 shares of company stock valued at $138,573. 6.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Orchestra BioMed

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Orchestra BioMed in the 3rd quarter valued at $52,000. ABLE Financial Group LLC bought a new position in shares of Orchestra BioMed during the 3rd quarter worth $69,000. SkyView Investment Advisors LLC bought a new position in shares of Orchestra BioMed during the 2nd quarter worth $163,000. Catalytic Wealth RIA LLC bought a new position in shares of Orchestra BioMed during the 1st quarter worth $117,000. Finally, Rhumbline Advisers grew its stake in shares of Orchestra BioMed by 192.7% during the 2nd quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock worth $215,000 after acquiring an additional 17,405 shares during the period. 53.55% of the stock is owned by institutional investors and hedge funds.

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.