Yi Chen, an analyst from H.C. Wainwright, reiterated the Buy rating on Orchestra BioMed Holdings (OBIO – Research Report). The associated price target remains the same with $12.00.
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Yi Chen has given his Buy rating due to a combination of factors surrounding Orchestra BioMed Holdings. The company recently received Breakthrough Device designation from the FDA for its atrioventricular interval modulation (AVIM) therapy, which is designed to help patients with certain cardiovascular conditions. This designation not only highlights the innovative nature of the AVIM technology but also addresses a significant unmet medical need, potentially impacting 7.7 million patients in the U.S. The designation is expected to facilitate faster FDA engagement and review processes and may lead to favorable reimbursement pathways.
Additionally, the ongoing BACKBEAT global pivotal study is a critical component of Orchestra BioMed’s strategic plan. This study, which is expected to complete enrollment in the first half of 2026, involves a comprehensive trial of AVIM therapy in patients with uncontrolled hypertension. The promising preliminary results, including favorable echocardiographic data, further support the potential efficacy of the therapy. These developments, along with the company’s upcoming presentations at major medical conferences, reinforce the positive outlook and justify the Buy rating and the $12 price target.
According to TipRanks, Chen is an analyst with an average return of -17.8% and a 27.78% success rate. Chen covers the Healthcare sector, focusing on stocks such as Vivani Medical, Opko Health, and Harrow Health.