FY2024 EPS Estimates for Orchestra BioMed Raised by B. Riley

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) – Equities researchers at B. Riley raised their FY2024 EPS estimates for shares of Orchestra BioMed in a research note issued on Wednesday, November 13th. B. Riley analyst K. Bauser now forecasts that the company will post earnings per share of ($1.67) for the year, up from their prior estimate of ($1.70). B. Riley has a “Buy” rating and a $15.00 price target 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 analysts also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of Orchestra BioMed in a research report on Friday. Chardan Capital reaffirmed a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a research report on Wednesday, November 13th.

Orchestra BioMed Stock Down 0.2 %

OBIO stock opened at $5.83 on Monday. Orchestra BioMed has a twelve month low of $4.22 and a twelve month high of $11.69. The company has a market cap of $221.60 million, a PE ratio of -3.62 and a beta of 0.42. The business’s 50-day simple moving average is $5.42 and its 200 day simple moving average is $6.27.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.03. The business had revenue of $0.99 million for the quarter, compared to the consensus estimate of $0.81 million. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%.

Insiders Place Their Bets

In other news, insider Darren Sherman sold 6,837 shares of the 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 completion of the transaction, the insider now directly owns 793,275 shares of the company’s stock, valued at approximately $4,838,977.50. This represents a 0.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 24,260 shares of company stock worth $138,573 over the last quarter. Company insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in shares of Orchestra BioMed in the 3rd quarter valued at $52,000. ABLE Financial Group LLC bought a new position in Orchestra BioMed during the 3rd quarter valued at about $69,000. SkyView Investment Advisors LLC acquired a new position in Orchestra BioMed in the second quarter valued at about $163,000. Catalytic Wealth RIA LLC acquired a new stake in shares of Orchestra BioMed during the first quarter worth approximately $117,000. Finally, Rhumbline Advisers raised its stake in shares of Orchestra BioMed by 192.7% in the second quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock valued at $215,000 after acquiring an additional 17,405 shares during the last quarter. 53.55% of the stock is currently owned by institutional investors and hedge funds.

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.