Braveheart Bio (NASDAQ:BRVE) Stock Price Up 8.1% – Still a Buy?

Braveheart Bio, Inc. (NASDAQ:BRVE)’s stock price was up 8.1% during trading on Thursday. The stock traded as high as $22.47 and last traded at $23.1990. 194,514 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 462,762 shares. The stock had previously closed at $21.46.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of Braveheart Bio to a “hold” rating in a research note on Saturday, August 15th. Cantor Fitzgerald started coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They set an “overweight” rating and a $40.00 target price for the company. TD Cowen started coverage on shares of Braveheart Bio in a report on Monday, August 31st. They set a “buy” rating for the company. Jefferies Financial Group initiated coverage on Braveheart Bio in a research note on Monday, August 31st. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, The Goldman Sachs Group started coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They issued a “buy” rating and a $48.00 price target 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’s stock. Based on data from MarketBeat, Braveheart Bio presently has a consensus rating of “Moderate Buy” and an average price target of $45.25.

Braveheart Bio Stock Performance

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

Insider Transactions at Braveheart Bio

In other Braveheart Bio news, Director Orbimed Advisors Llc purchased 1,940,000 shares of the stock in a transaction on Friday, August 7th. The shares were bought at an average cost of $18.00 per share, with a total value of $34,920,000.00. Following the completion of the acquisition, the director owned 11,901,826 shares in the company, valued at $214,232,868. This trade represents a 19.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Bio Fund Iv L.P. Ah purchased 1,100,000 shares of Braveheart Bio stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average price of $18.00 per share, with a total value of $19,800,000.00. Following the completion of the transaction, the insider owned 10,232,420 shares of the company’s stock, valued at $184,183,560. This represents a 12.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 8,751,942 shares of company stock valued at $157,534,956.

About Braveheart Bio

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.