Braveheart Bio (NASDAQ:BRVE) Releases Quarterly Earnings Results, Misses Expectations By $2.26 EPS

Braveheart Bio (NASDAQ:BRVE) issued its quarterly earnings data on Tuesday. The company reported ($2.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($2.26), Zacks reports.

Braveheart Bio Stock Up 10.0%

NASDAQ BRVE traded up $2.67 during midday trading on Tuesday, hitting $29.41. The company had a trading volume of 613,229 shares, compared to its average volume of 367,419. Braveheart Bio has a twelve month low of $24.31 and a twelve month high of $32.00.

Analyst Ratings Changes

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

Insider Activity at Braveheart Bio

In other news, Director David Lubner acquired 55,555 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average price of $18.00 per share, with a total value of $999,990.00. Following the completion of the transaction, the director directly owned 55,555 shares of the company’s stock, valued at $999,990. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Orbimed Advisors Llc purchased 1,940,000 shares of Braveheart Bio 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 transaction, the director directly owned 11,901,826 shares in the company, valued at $214,232,868. This represents a 19.47% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 8,751,942 shares of company stock worth $157,534,956 in the last quarter.

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.