Braveheart Bio (NASDAQ:BRVE) Rating Increased to Strong-Buy at The Goldman Sachs Group

Key Points

• Goldman Sachs upgraded Braveheart Bio to “strong buy,” joining several recent bullish initiations. Analysts have a consensus “buy” rating and an average price target of $45.25, well above the reported $25.50 opening price.
• Shares fell 7.1% on Monday, opening at $25.50 versus a 52-week range of $24.31 to $32.00.
• Insiders have made substantial purchases, including acquisitions by Orbimed Advisors and Bio Fund IV at $18 per share; insiders bought 8.75 million shares worth approximately $157.5 million over the past quarter.

Braveheart Bio (NASDAQ:BRVE - Get Free Report) was upgraded by The Goldman Sachs Group to a "strong-buy" rating in a research note issued on Monday, Zacks reports.

BRVE has been the topic of a number of other reports. TD Cowen began coverage on shares of Braveheart Bio in a research note on Monday. They issued a "buy" rating on the stock. Stifel Nicolaus began coverage on shares of Braveheart Bio in a report on Monday. They issued a "buy" rating and a $45.00 price target on the stock. Cantor Fitzgerald initiated coverage on Braveheart Bio in a research note on Monday. They issued an "overweight" rating and a $40.00 price objective on the stock. Wall Street Zen raised Braveheart Bio to a "hold" rating in a report on Saturday, August 15th. Finally, Jefferies Financial Group began coverage on Braveheart Bio in a research report on Monday. They issued a "buy" rating and a $48.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $45.25.

Braveheart Bio Trading Down 7.1%

BRVE opened at $25.50 on Monday. Braveheart Bio has a fifty-two week low of $24.31 and a fifty-two week high of $32.00.

Insider Buying and Selling

In other Braveheart Bio news, Director Orbimed Advisors Llc acquired 1,940,000 shares of Braveheart Bio stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average cost of $18.00 per share, for a total transaction of $34,920,000.00. Following the purchase, the director owned 11,901,826 shares of the company's stock, valued at approximately $214,232,868. This represents a 19.47% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bio Fund Iv L.P. Ah acquired 1,100,000 shares of Braveheart Bio stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average price of $18.00 per share, with a total value of $19,800,000.00. Following the completion of the purchase, the insider directly owned 10,232,420 shares in the company, valued at $184,183,560. This represents a 12.05% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 8,751,942 shares of company stock valued at $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.

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