Orchestra BioMed initiated with a Buy at BTIG

BTIG analyst Marie Thibault initiated coverage of Orchestra BioMed (OBIO) with a Buy rating and $12 price target Orchestra is a medical technology company with a “unique business model maximizing its expertise in research and development while partnering with large companies to bring new devices to market, the analyst tells investors in a research note. The firm says the company’s first two products are focused on the large, underserved markets of hypertension and coronary artery disease. While Orchestra is still proving out its business model, there is “plenty to like with the approach,” contends BTIG.