Orchestra BioMed (NASDAQ:OBIO) Posts Earnings Results, Beats Expectations By $0.10 EPS

Orchestra BioMed (NASDAQ:OBIO) issued its quarterly earnings data on Tuesday. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10, FiscalAI reports. Orchestra BioMed had a negative return on equity of 149.76% and a negative net margin of 182.50%. The business had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.13 million.

Orchestra BioMed Price Performance

NASDAQ:OBIO opened at $6.01 on Thursday. The firm has a market capitalization of $369.33 million, a price-to-earnings ratio of -8.01 and a beta of 0.56. Orchestra BioMed has a 52-week low of $3.46 and a 52-week high of $6.50. The stock has a fifty day moving average of $5.79 and a 200 day moving average of $4.60. The company has a debt-to-equity ratio of 1.80, a quick ratio of 8.24 and a current ratio of 8.26.

Insiders Place Their Bets

In other Orchestra BioMed news, insider Darren Sherman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $4.94, for a total value of $74,100.00. Following the sale, the insider owned 1,134,402 shares of the company’s stock, valued at $5,603,945.88. This trade represents a 1.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Pacitti purchased 20,000 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were acquired at an average price of $5.00 per share, with a total value of $100,000.00. Following the transaction, the director owned 74,750 shares in the company, valued at approximately $373,750. The trade was a 36.53% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 58,000 shares of company stock valued at $288,560 and have sold 45,000 shares valued at $255,600. 7.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Piper Sandler reaffirmed an “overweight” rating on shares of Orchestra BioMed in a report on Thursday, October 15th. Chardan Capital restated a “buy” rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research report on Friday, October 23rd. Weiss Ratings upgraded shares of Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 10th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Orchestra BioMed in a research note on Monday, October 5th. Finally, B. Riley Financial upped their target price on shares of Orchestra BioMed from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, September 15th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.17.

About Orchestra BioMed

Orchestra BioMed is a medical technology company that develops therapies for cardiovascular and other diseases, often in collaboration with established medical-device companies. Its work focuses on technologies intended to integrate with existing treatment approaches and devices. The company’s lead program, AVIM therapy, is designed to lower blood pressure in people with pacemakers by adjusting the timing of cardiac pacing. Orchestra BioMed is also developing Virtue SAB, a drug-delivery balloon intended to treat coronary artery disease by delivering sirolimus to blood vessels.