In a report released yesterday, Marie Thibault from BTIG maintained a Buy rating on Orchestra BioMed Holdings, with a price target of $12.00.
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Marie Thibault’s rating is based on Orchestra BioMed Holdings’ recent strategic partnerships and financial maneuvers, which are expected to bolster the company’s growth and financial stability. The new collaboration with Ligand Pharmaceuticals is particularly noteworthy, as it provides Orchestra BioMed with significant funding and potential milestone payments, alongside a royalty agreement that could enhance future revenue streams.
Additionally, the strengthened partnership with Medtronic, including a substantial loan and stock purchase agreement, underscores confidence in Orchestra BioMed’s AVIM therapy. These strategic moves, coupled with the amended loan agreements that offer more favorable terms, position Orchestra BioMed for potential success in its therapeutic endeavors, justifying the Buy rating.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of OBIO in relation to earlier this year.