Braveheart Bio (NASDAQ:BRVE) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Braveheart Bio to a “hold” rating, while the broader analyst consensus remains “Moderate Buy,” with five Buy ratings and one Hold rating and an average price target of $45.25.
• Braveheart Bio shares rose 2.5% to open at $26.95, compared with a 52-week range of $24.31 to $32.00.
• Major shareholders made substantial insider purchases, acquiring 2.78 million shares for $50.04 million on August 7; insiders have bought 8.75 million shares worth $157.5 million over the past 90 days.

Braveheart Bio (NASDAQ:BRVE - Get Free Report) was upgraded by research analysts at Zacks Research to a "hold" rating in a note issued to investors on Tuesday, Zacks reports.

BRVE has been the topic of several other reports. Jefferies Financial Group initiated coverage on shares of Braveheart Bio in a report on Monday. They set a "buy" rating and a $48.00 price objective on the stock. Cantor Fitzgerald assumed coverage on shares of Braveheart Bio in a research report on Monday. They set an "overweight" rating and a $40.00 price target on the stock. The Goldman Sachs Group initiated coverage on shares of Braveheart Bio in a research note on Monday. They issued a "buy" rating and a $48.00 price target for the company. Stifel Nicolaus began coverage on Braveheart Bio in a report on Monday. They set a "buy" rating and a $45.00 price target for the company. Finally, Wall Street Zen raised shares of Braveheart Bio to a "hold" rating in a report on Saturday, August 15th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Braveheart Bio presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.25.

Braveheart Bio Trading Up 2.5%

Braveheart Bio stock opened at $26.95 on Tuesday. Braveheart Bio has a 52 week low of $24.31 and a 52 week high of $32.00.

Insider Transactions at Braveheart Bio

In other Braveheart Bio news, major shareholder Growth Opportunities F. Forbion acquired 1,680,000 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was bought at an average price of $18.00 per share, for a total transaction of $30,240,000.00. Following the acquisition, the insider directly owned 10,185,478 shares in the company, valued at $183,338,604. The trade was a 19.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bio Fund Iv L.P. Ah acquired 1,100,000 shares of the firm's stock in a transaction that occurred on 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 acquisition, the insider directly owned 10,232,420 shares in the company, valued at $184,183,560. This represents a 12.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 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.

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