Braveheart Bio (NASDAQ:BRVE) Stock Rating Reaffirmed as Overweight by Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reaffirmed an “overweight” rating on Braveheart Bio with a $40 price target, implying 108.22% potential upside from the stock’s $19.21 price. The analyst consensus is “Moderate Buy,” with a $45.25 average target.
• Braveheart Bio reported a quarterly loss of $2.51 per share, missing estimates by $2.26, and analysts expect a full-year loss of approximately $1.48 per share.
• Insiders made substantial purchases recently, including a director’s $1 million buy and a major shareholder’s $19.8 million acquisition; insiders bought 8.75 million shares worth $157.5 million during the last quarter.

Braveheart Bio (NASDAQ:BRVE - Get Free Report)'s stock had its "overweight" rating restated by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $40.00 price objective on the stock. Cantor Fitzgerald's price objective suggests a potential upside of 108.22% from the stock's current price.

Other research analysts have also issued research reports about the stock. TD Cowen began coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They set a "buy" rating on the stock. Wall Street Zen raised shares of Braveheart Bio to a "hold" rating in a research note on Saturday, August 15th. Stifel Nicolaus began coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They issued a "buy" rating and a $45.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of Braveheart Bio in a report on Monday, August 31st. They issued a "buy" rating and a $48.00 price objective for the company. Finally, The Goldman Sachs Group started coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They set a "buy" rating and a $48.00 target price 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.25.

Braveheart Bio Stock Performance

Braveheart Bio stock opened at $19.21 on Tuesday. The firm's fifty day moving average is $24.50. Braveheart Bio has a 12 month low of $17.86 and a 12 month high of $32.00. The stock has a market cap of $1.73 billion and a PE ratio of -7.65.

Braveheart Bio (NASDAQ:BRVE - Get Free Report) last issued its earnings results on Tuesday, September 8th. The company reported ($2.51) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($2.26). On average, research analysts anticipate that Braveheart Bio will post -1.48 earnings per share for the current year.

Insider Transactions at Braveheart Bio

In other news, Director David Lubner purchased 55,555 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 $999,990.00. Following the completion of the transaction, the director directly owned 55,555 shares in the company, valued at $999,990. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Bio Fund Iv L.P. Ah acquired 1,100,000 shares of Braveheart Bio 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 $19,800,000.00. Following the completion of the purchase, the insider directly owned 10,232,420 shares of the company's stock, valued at $184,183,560. The trade was a 12.05% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 8,751,942 shares of company stock worth $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.