H.C. Wainwright Reiterates Buy Rating on Orchestra BioMed Inc. (OBIO)

H.C. Wainwright analyst Yi Chen reiterated a Buy rating and $10.00 price target on Orchestra BioMed Inc. (NASDAQ: OBIO).

The analyst commented: "Yesterday, Orchestra Biomed announced that the BACKBEAT global pivotal trial of the atrioventricular interval modulation (AVIM) therapy in pacemaker-indicated patients with uncontrolled hypertension has surpassed full enrollment target of 316 randomized patients. As of September 30, 2026, 330 patients have been randomized at 81 sites across 13 countries. Approved by the FDA, the trial protocol specifies 284 evaluable randomized subjects for the primary endpoint analysis with a total enrollment target of 316 patients to account for potential loss to follow-up. Of note, the BACKBEAT trial is conducted with Medtronic (MDT; not rated), which is a strategic collaborator and potential commercial partner if AVIM therapy is approved. The company’s current focus is three-month follow-up, database lock, and the delivery of a rigorous, well-powered data set. Orchestra and Medtronic plan to submit the primary endpoint results for consideration as a late-breaking clinical trial presentation at a major cardiovascular conference in 2Q27, followed by regulatory submission to the FDA and global regulatory agencies, assuming primary endpoints are met. Orchestra plans to host an R&D Day on November 12, 2026 in New York City to provide in-depth reviews of both the AVIM therapy and Virtue SAB programs. We reiterate our Buy rating and $10 price target."

For an analyst ratings summary and ratings history on Orchestra BioMed Inc. click here. For more ratings news on Orchestra BioMed Inc. click here.

Shares of Orchestra BioMed Inc. closed at $5.95 yesterday.

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