Braveheart Bio (NASDAQ:BRVE) Stock Keeps Overweight Rating at Cantor Fitzgerald

Braveheart Bio (NASDAQ:BRVE)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a research note issued on Tuesday, Benzinga reports. They presently have a $40.00 price target on the stock. Cantor Fitzgerald‘s price objective would suggest a potential upside of 86.22% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group assumed coverage on Braveheart Bio in a research note on Monday, August 31st. They set a “buy” rating and a $48.00 target price for the company. TD Cowen assumed coverage on Braveheart Bio in a research note on Monday, August 31st. They set a “buy” rating for the company. The Goldman Sachs Group assumed coverage on Braveheart Bio in a research note on Monday, August 31st. They set a “buy” rating and a $48.00 target price for the company. Zacks Research raised Braveheart Bio to a “hold” rating in a research note on Tuesday, September 1st. Finally, Wall Street Zen raised Braveheart Bio to a “hold” rating in a research note on Saturday, August 15th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Braveheart Bio currently has a consensus rating of “Moderate Buy” and an average target price of $45.25.

Braveheart Bio Stock Up 2.1%

Shares of BRVE stock traded up $0.44 during trading on Tuesday, reaching $21.48. The company’s stock had a trading volume of 156,496 shares, compared to its average volume of 455,172. The firm has a market cap of $1.93 billion and a P/E ratio of -8.56. The company has a 50-day simple moving average of $24.22. Braveheart Bio has a 1-year low of $17.86 and a 1-year high of $32.00.

Braveheart Bio (NASDAQ:BRVE) last announced its quarterly earnings data 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). Sell-side analysts anticipate that Braveheart Bio will post -1.48 EPS for the current fiscal year.

Insider Activity

In related news, Director Orbimed Advisors Llc bought 1,940,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average cost of $18.00 per share, with a total value 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Christopher Viehbacher bought 83,333 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were 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 in the company, valued at $10,971,342. This represents a 15.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 8,751,942 shares of company stock worth $157,534,956 over the last three months.

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.