Braveheart Bio’s (BRVE) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Braveheart Bio (NASDAQ:BRVE)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a report issued on Tuesday, Benzinga reports. They currently have a $40.00 price objective on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 95.44% from the company’s previous close.

Other analysts also recently issued research reports about the company. The Goldman Sachs Group began coverage on Braveheart Bio in a research report on Monday, August 31st. They issued a “buy” rating and a $48.00 price objective for the company. TD Cowen started coverage on shares of Braveheart Bio in a report on Monday, August 31st. They issued a “buy” rating on the stock. Stifel Nicolaus initiated coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They issued a “buy” rating and a $45.00 target price on the stock. Jefferies Financial Group started coverage on shares of Braveheart Bio in a report on Monday, August 31st. They set a “buy” rating and a $48.00 price target for the company. Finally, Zacks Research raised shares of Braveheart Bio to a “hold” rating in a research report on Tuesday, September 1st. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.25.

Braveheart Bio Stock Performance

NASDAQ BRVE traded up $1.26 during trading on Tuesday, hitting $20.47. 166,088 shares of the company’s stock traded hands, compared to its average volume of 462,192. The business’s fifty day moving average price is $24.50. Braveheart Bio has a 12-month low of $17.86 and a 12-month high of $32.00. The firm has a market cap of $1.84 billion and a price-to-earnings ratio of -8.15.

Braveheart Bio (NASDAQ:BRVE) last released 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). On average, sell-side analysts anticipate that Braveheart Bio will post -1.48 earnings per share for the current year.

Insider Activity at Braveheart Bio

In related news, Director Christopher Viehbacher bought 83,333 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was purchased at an average cost of $18.00 per share, with a total value of $1,499,994.00. Following the transaction, the director owned 609,519 shares in the company, valued at approximately $10,971,342. This trade represents a 15.84% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Bio Fund Iv L.P. Ah bought 1,100,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $19,800,000.00. Following the purchase, the insider directly owned 10,232,420 shares in the company, valued at approximately $184,183,560. This represents a 12.05% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 8,751,942 shares of company stock valued at $157,534,956 over the last 90 days.

Braveheart Bio Company Profile

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.