Braveheart Bio (NASDAQ:BRVE) Trading Up 5.9% – Should You Buy?

Braveheart Bio, Inc. (NASDAQ:BRVEGet Free Report)’s stock price traded up 5.9% on Wednesday . The stock traded as high as $27.99 and last traded at $28.29. Approximately 42,524 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 339,641 shares. The stock had previously closed at $26.71.

Wall Street Analyst Weigh In

BRVE has been the topic of a number of research reports. Stifel Nicolaus assumed coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They set a “buy” rating and a $45.00 target price on the stock. The Goldman Sachs Group started coverage on shares of Braveheart Bio in a report on Monday, August 31st. They issued a “buy” rating and a $48.00 price target for the company. TD Cowen began coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They issued a “buy” rating for the company. Cantor Fitzgerald started coverage on shares of Braveheart Bio in a report on Monday, August 31st. They set an “overweight” rating and a $40.00 price objective on the stock. Finally, Jefferies Financial Group began coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They set a “buy” rating and a $48.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.25.

Read Our Latest Stock Report on BRVE

Braveheart Bio Stock Up 0.9%

Braveheart Bio (NASDAQ:BRVEGet Free Report) last announced its earnings results on Tuesday, September 8th. The company reported ($2.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($2.26). As a group, research analysts anticipate that Braveheart Bio, Inc. will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Braveheart Bio

In other Braveheart Bio news, Director Orbimed Advisors Llc acquired 1,940,000 shares of Braveheart Bio stock in a transaction on Friday, August 7th. The stock was purchased at an average price of $18.00 per share, for a total transaction of $34,920,000.00. Following the purchase, the director directly owned 11,901,826 shares of the company’s stock, valued at $214,232,868. This trade represents a 19.47% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Bio Fund Iv L.P. Ah bought 1,100,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were acquired at an average cost 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 in the company, valued at approximately $184,183,560. The trade was a 12.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 8,751,942 shares of company stock valued at $157,534,956 in the last ninety days.

About Braveheart Bio

(Get Free Report)

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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