Braveheart Bio (NASDAQ:BRVE) Stock Price Up 5.9% – Here’s Why

Braveheart Bio, Inc. (NASDAQ:BRVE) was up 5.9% on Wednesday . The stock traded as high as $27.99 and last traded at $28.29. 42,524 shares changed hands 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.

Analyst Ratings Changes

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

Braveheart Bio Trading Up 3.9%

Braveheart Bio (NASDAQ:BRVE) last released its quarterly earnings results on Tuesday, September 8th. The company reported ($2.51) EPS for the quarter, missing the consensus estimate of ($0.25) by ($2.26). Analysts forecast that Braveheart Bio, Inc. will post -1.48 EPS for the current year.

Insider Activity at Braveheart Bio

In other Braveheart Bio news, Director David Lubner bought 55,555 shares of Braveheart Bio stock in a transaction dated Friday, August 7th. The stock was bought at an average cost of $18.00 per share, for a total transaction of $999,990.00. Following the purchase, the director owned 55,555 shares in the company, valued at $999,990. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Erez Chimovits purchased 1,940,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were bought at an average cost of $18.00 per share, with a total value 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. This represents a 19.47% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 8,751,942 shares of company stock worth $157,534,956 over the last ninety days.

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.