Braveheart Bio (NASDAQ:BRVE) Issues Earnings Results, Misses Estimates By $2.26 EPS

Braveheart Bio (NASDAQ:BRVE) posted its earnings results on Tuesday. The company reported ($2.51) EPS for the quarter, missing the consensus estimate of ($0.25) by ($2.26), Zacks reports.

Braveheart Bio Price Performance

BRVE opened at $28.91 on Thursday. Braveheart Bio has a 1-year low of $24.31 and a 1-year high of $32.00.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BRVE shares. Cantor Fitzgerald initiated coverage on Braveheart Bio in a research report on Monday, August 31st. They set an “overweight” rating and a $40.00 price target for the company. Wall Street Zen raised Braveheart Bio to a “hold” rating in a report on Saturday, August 15th. The Goldman Sachs Group started coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They set a “buy” rating and a $48.00 price objective on the stock. Stifel Nicolaus began coverage on shares of Braveheart Bio in a report on Monday, August 31st. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Zacks Research raised shares of Braveheart Bio to a “hold” rating in a research note on Tuesday, September 1st. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.25.

Insider Activity at Braveheart Bio

In other news, major shareholder Bio Fund Iv L.P. Ah acquired 1,100,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were bought at an average price of $18.00 per share, with a total value of $19,800,000.00. Following the purchase, the insider owned 10,232,420 shares of the company’s stock, valued at approximately $184,183,560. This represents a 12.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Orbimed Advisors Llc acquired 1,940,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was purchased at an average price of $18.00 per share, with a total value of $34,920,000.00. Following the acquisition, the director owned 11,901,826 shares of the company’s stock, valued at approximately $214,232,868. This trade represents a 19.47% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 8,751,942 shares of company stock worth $157,534,956 in the last quarter.

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.