Braveheart Bio, Inc. (NASDAQ:BRVE) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Braveheart Bio, Inc. (NASDAQ:BRVE) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $45.25.

A number of analysts have recently weighed in on BRVE shares. Zacks Research upgraded shares of Braveheart Bio to a “hold” rating in a report on Tuesday, September 1st. Jefferies Financial Group initiated 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. Cantor Fitzgerald assumed coverage on Braveheart Bio in a research report on Monday, August 31st. They issued an “overweight” rating and a $40.00 price target for the company. Wall Street Zen raised Braveheart Bio to a “hold” rating in a research note on Saturday, August 15th. Finally, TD Cowen initiated coverage on Braveheart Bio in a research report on Monday, August 31st. They set a “buy” rating on the stock.

Braveheart Bio Trading Up 8.9%

Shares of BRVE opened at $23.37 on Friday. Braveheart Bio has a 1 year low of $20.69 and a 1 year high of $32.00.

Braveheart Bio (NASDAQ:BRVE) last posted 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, sell-side analysts expect that Braveheart Bio will post -1.48 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Christopher Viehbacher acquired 83,333 shares of the company’s stock in a transaction on Friday, August 7th. The stock was bought at an average cost of $18.00 per share, with a total value of $1,499,994.00. Following the completion of the purchase, the director directly owned 609,519 shares of the company’s stock, valued at $10,971,342. This represents a 15.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Erez Chimovits acquired 1,940,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $214,232,868. The trade was a 19.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 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.