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On Monday, H.C. Wainwright analyst Yi Chen adjusted the price target for Orchestra BioMed Inc. (NASDAQ:OBIO) shares, reducing it to $12.00 from the previous $14.00. The stock, currently trading at $3.11, has declined 29% in the past week. Despite the decrease, the firm maintains a Buy rating on the company’s stock. The revision follows Orchestra BioMed’s announcement of its financial outcomes for the year 2024, which included a net loss of $61.0M, or ($1.66) per share, aligning closely with the estimated loss of $60.7M projected by the analyst. The company reported generating total revenue of $2.6M during the same period, maintaining impressive gross margins of 92.27%.
Orchestra BioMed has made headlines earlier in the week with its progress on the BACKBEAT pivotal study of AVIM therapy, which is anticipated to complete patient enrollment in the first half of 2026. According to InvestingPro analysis, while the company holds more cash than debt on its balance sheet, it’s quickly burning through cash reserves. This global, multi-center, randomized, double-blind trial is testing AVIM therapy in roughly 500 patients across the United States and Europe. These patients have previously received a Medtronic (NYSE:MDT) dual-chamber cardiac pacemaker and are battling uncontrolled hypertension despite taking antihypertensive medications.
The study design includes a treatment group receiving AVIM therapy alongside anti-hypertension drug therapy, and a control group receiving non-activated AVIM therapy with ongoing anti-hypertension drug therapy. The primary efficacy endpoint being measured is the change in daily average blood pressure at three months post-randomization. Furthermore, Orchestra BioMed has shared echocardiographic data analysis from the MODERATO II study, indicating a positive effect of AVIM therapy on patients with diastolic dysfunction.
With a current market capitalization of $119.15M and analyst price targets ranging from $12 to $20, H.C. Wainwright reaffirms its Buy rating. InvestingPro offers 11 additional investment insights and detailed financial metrics for Orchestra BioMed, helping investors make informed decisions. The analyst’s revised 12-month price target reflects the current valuation while accounting for the latest financial data and clinical study developments.
In other recent news, Orchestra BioMed Inc. reported fourth-quarter revenue of $253,000, which did not meet the consensus estimate of $839,000, as noted by BTIG analyst Marie Thibault. Despite this shortfall, the company ended the year with $66.8 million in cash, equivalents, and marketable securities. BTIG maintains a Buy rating on the stock with a price target of $12, highlighting the ongoing progress in the BACKBEAT pivotal trial and the potential resolution of partnership restructuring with Terumo Corporation in 2025 as significant future events.
Additionally, H.C. Wainwright reaffirmed their Buy rating on Orchestra BioMed, setting a higher price target of $14. This endorsement follows the company’s updates on their BACKBEAT study, which is expected to complete patient enrollment by the first half of 2026. The study is a global trial involving approximately 500 patients to evaluate the effectiveness of AVIM therapy for hypertension. Orchestra BioMed’s strategic collaborations and unique business model continue to draw analyst attention, with BTIG emphasizing the potential high margins from their innovative product lines.
The company’s first commercial launches for its BackBeat CNT and Virtue SAB are anticipated in 2028, which aligns with BTIG’s positive outlook on the stock. These recent developments underscore the ongoing analyst interest in Orchestra BioMed’s strategic direction and future prospects.
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