Braveheart Bio (NASDAQ:BRVE) Stock Price Up 7.9% – Time to Buy?

Shares of Braveheart Bio, Inc. (NASDAQ:BRVE) shot up 7.9% on Tuesday. The stock traded as high as $20.32 and last traded at $20.73. Approximately 52,851 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 459,622 shares. The stock had previously closed at $19.21.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Zacks Research upgraded shares of Braveheart Bio to a “hold” rating in a research report on Tuesday, September 1st. Cantor Fitzgerald restated an “overweight” rating and set a $40.00 price objective on shares of Braveheart Bio in a research report on Tuesday. The Goldman Sachs Group assumed coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They issued a “buy” rating and a $48.00 price target for the company. Stifel Nicolaus started coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They set a “buy” rating and a $45.00 price target for the company. Finally, TD Cowen began coverage on Braveheart Bio in a report on Monday, August 31st. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $45.25.

Braveheart Bio Stock Up 7.0%

The firm has a 50-day moving average of $24.50. The company has a market cap of $1.85 billion and a PE ratio of -8.20.

Braveheart Bio (NASDAQ:BRVE) last posted its quarterly earnings results on Tuesday, September 8th. The company reported ($2.51) EPS for the quarter, missing the consensus estimate of ($0.25) by ($2.26). On average, equities research analysts anticipate that Braveheart Bio, Inc. will post -1.48 earnings per share for the current year.

Insider Activity at Braveheart Bio

In other news, Director Erez Chimovits acquired 1,940,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $34,920,000.00. Following the completion of the acquisition, the director owned 11,901,826 shares of the company’s stock, valued at approximately $214,232,868. This represents a 19.47% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christopher Viehbacher bought 83,333 shares of the business’s stock in a transaction on Friday, August 7th. The shares were purchased at an average cost of $18.00 per share, with a total value of $1,499,994.00. Following the transaction, the director owned 609,519 shares in the company, valued at approximately $10,971,342. The trade was a 15.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 8,751,942 shares of company stock worth $157,534,956.

Braveheart Bio Company Profile

We are a clinical‑stage biopharmaceutical company focused on developing therapies for patients with hypertrophic cardiomyopathy (“HCM”) and other serious cardiovascular diseases. Our lead product candidate, BHB‑1893, is a next-generation oral small‑molecule cardiac myosin inhibitor (“CMI”), that we are developing for the treatment of obstructive HCM (“oHCM”) and non‑obstructive HCM (“nHCM”). Our goal is to improve the treatment options for these patients by enhancing speed of onset, depth of gradient response, systolic safety, and reversibility, and reducing prescribing complexity.