Orchestra BioMed (OBIO) Projected to Post Earnings on Wednesday

Orchestra BioMed (NASDAQ:OBIO) is expected to be posting its quarterly earnings results before the market opens on Wednesday, March 26th. Analysts expect Orchestra BioMed to post earnings of ($0.43) per share for the quarter.

Orchestra BioMed Trading Up 1.3 %

Shares of OBIO stock opened at $4.57 on Tuesday. The company has a market capitalization of $173.72 million, a P/E ratio of -2.84 and a beta of 0.59. Orchestra BioMed has a 12 month low of $3.75 and a 12 month high of $8.87. The stock has a 50 day moving average of $4.97 and a two-hundred day moving average of $5.20.

Wall Street Analyst Weigh In

OBIO has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Orchestra BioMed in a research note on Monday, March 10th. BTIG Research assumed coverage on shares of Orchestra BioMed in a research report on Thursday, March 20th. They set a “buy” rating and a $12.00 target price on the stock. Finally, Barclays started coverage on shares of Orchestra BioMed in a research report on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $15.40.

Institutional Investors Weigh In On Orchestra BioMed

An institutional investor recently raised its position in Orchestra BioMed stock. Bank of America Corp DE raised its position in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 42.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,780 shares of the company’s stock after buying an additional 7,036 shares during the period. Bank of America Corp DE owned 0.06% of Orchestra BioMed worth $95,000 as of its most recent SEC filing. Institutional investors and hedge funds own 53.55% 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.