Braveheart Bio (NASDAQ:BRVE – Get Free Report) issued its quarterly earnings data on Tuesday. The company reported ($2.51) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($2.26), Zacks reports.
Braveheart Bio Stock Up 10.0%
NASDAQ:BRVE opened at $29.41 on Wednesday. Braveheart Bio has a 1-year low of $24.31 and a 1-year high of $32.00.
Wall Street Analysts Forecast Growth
BRVE has been the topic of several recent analyst reports. Cantor Fitzgerald initiated coverage on Braveheart Bio in a research note on Monday, August 31st. They set an “overweight” rating and a $40.00 target price on the stock. Zacks Research raised shares of Braveheart Bio to a “hold” rating in a report on Tuesday, September 1st. Stifel Nicolaus started coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They set a “buy” rating and a $45.00 price objective for the company. Wall Street Zen upgraded Braveheart Bio to a “hold” rating in a report on Saturday, August 15th. Finally, The Goldman Sachs Group initiated coverage on shares of Braveheart Bio in a report on Monday, August 31st. They set 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.25.
Insider Buying and Selling at Braveheart Bio
In other news, major shareholder Growth Opportunities F. Forbion acquired 1,680,000 shares of the business’s stock in a transaction on Friday, August 7th. The stock was bought at an average price of $18.00 per share, with a total value of $30,240,000.00. Following the completion of the acquisition, the insider owned 10,185,478 shares of the company’s stock, valued at approximately $183,338,604. This represents a 19.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Orbimed Advisors Llc acquired 1,940,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was acquired at an average cost 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 $214,232,868. This trade represents a 19.47% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 8,751,942 shares of company stock worth $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.
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