Orchestra BioMed (NASDAQ:OBIO) Posts Quarterly Earnings Results, Beats Expectations By $0.64 EPS

by · The Markets Daily

Orchestra BioMed (NASDAQ:OBIO – Get Free Report) released its earnings results on Thursday. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.64, FiscalAI reports. The company had revenue of $30.92 million for the quarter, compared to analysts’ expectations of $0.93 million. Orchestra BioMed had a negative return on equity of 259.65% and a negative net margin of 157.40%.

Orchestra BioMed Stock Performance

OBIO traded down $0.18 on Friday, hitting $4.20. The company’s stock had a trading volume of 278,584 shares, compared to its average volume of 200,990. Orchestra BioMed has a 12 month low of $2.20 and a 12 month high of $5.42. The firm has a market cap of $237.17 million, a P/E ratio of -3.72 and a beta of 0.56. The company has a quick ratio of 4.72, a current ratio of 4.73 and a debt-to-equity ratio of 0.32. The company’s 50 day simple moving average is $4.19 and its 200-day simple moving average is $3.84.

Hedge Funds Weigh In On Orchestra BioMed

Large investors have recently made changes to their positions in the stock. Alyeska Investment Group L.P. bought a new stake in shares of Orchestra BioMed during the 3rd quarter valued at $3,386,000. Pathstone Holdings LLC purchased a new position in Orchestra BioMed during the 3rd quarter valued at about $2,495,000. Vanguard Group Inc. increased its position in shares of Orchestra BioMed by 28.0% during the third quarter. Vanguard Group Inc. now owns 1,481,875 shares of the company’s stock valued at $3,675,000 after buying an additional 324,558 shares during the period. 683 Capital Management LLC bought a new stake in shares of Orchestra BioMed during the fourth quarter valued at about $847,000. Finally, Marshall Wace LLP purchased a new stake in shares of Orchestra BioMed in the fourth quarter worth about $712,000. 53.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OBIO has been the topic of several research reports. Wall Street Zen raised shares of Orchestra BioMed from a “strong sell” rating to a “hold” rating in a research report on Saturday. Chardan Capital restated a “buy” rating and set a $20.00 price target on shares of Orchestra BioMed in a research note on Thursday. TD Cowen began coverage on shares of Orchestra BioMed in a report on Wednesday, December 10th. They issued a “buy” rating on the stock. Finally, Barclays upped their price objective on Orchestra BioMed from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Orchestra BioMed currently has an average rating of “Moderate Buy” and an average target price of $13.80.

Read Our Latest Stock Report on OBIO

Orchestra BioMed Company Profile

(Get Free Report)

Orchestra BioMed, Inc (NASDAQ: OBIO) is a clinical‐stage biopharmaceutical company dedicated to developing targeted therapies for inflammatory, fibrotic and oncologic diseases. The company’s research focuses on novel small-molecule programs designed to address high‐unmet-need conditions by leveraging proprietary prodrug and targeted inhibitor platforms. Orchestra BioMed’s pipeline includes lead candidates such as OBI-3424, a prodrug activated by AKR1C3 for the treatment of select solid tumors, and next-generation modulators aimed at suppressing pathological inflammation and fibrosis.

Orchestra BioMed conducts early‐ and mid-stage clinical studies in North America, working closely with key opinion leaders and academic centers to advance its programs.

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