Stifel Nicolaus Begins Coverage on Braveheart Bio (NASDAQ:BRVE)

Key Points

• Stifel Nicolaus initiated coverage of Braveheart Bio with a “buy” rating and a $45 price target, implying approximately 64% upside from the stock’s $27.44 opening price. The analyst consensus is also “Buy,” with a $45.25 target.
• Several firms have recently begun coverage, including Goldman Sachs and Jefferies with $48 targets and Cantor Fitzgerald with a $40 target, while five analysts currently rate the stock Buy.
• Insiders have made substantial purchases, including Bio Fund IV’s $19.8 million acquisition of 1.1 million shares; insiders bought 8.75 million shares worth roughly $157.5 million over the past 90 days.

Investment analysts at Stifel Nicolaus started coverage on shares of Braveheart Bio (NASDAQ:BRVE - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set a "buy" rating and a $45.00 price target on the stock. Stifel Nicolaus' price target would indicate a potential upside of 63.99% from the stock's current price.

BRVE has been the subject of a number of other research reports. Wall Street Zen raised shares of Braveheart Bio to a "hold" rating in a report on Saturday, August 15th. The Goldman Sachs Group assumed coverage on shares of Braveheart Bio in a research note on Monday. They set a "buy" rating and a $48.00 target price on the stock. Cantor Fitzgerald began coverage on Braveheart Bio in a research note on Monday. They issued an "overweight" rating and a $40.00 price target for the company. TD Cowen began coverage on Braveheart Bio in a report on Monday. They issued a "buy" rating for the company. Finally, Jefferies Financial Group started coverage on Braveheart Bio in a research report on Monday. They set a "buy" rating and a $48.00 price target on the stock. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $45.25.

Braveheart Bio Stock Performance

NASDAQ:BRVE opened at $27.44 on Monday. Braveheart Bio has a 1-year low of $24.61 and a 1-year high of $32.00.

Insider Buying and Selling at Braveheart Bio

In related news, major shareholder Bio Fund Iv L.P. Ah purchased 1,100,000 shares of Braveheart Bio stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average price of $18.00 per share, for a total transaction of $19,800,000.00. Following the transaction, the insider directly owned 10,232,420 shares in the company, valued at approximately $184,183,560. This trade represents a 12.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Charles Lubner purchased 55,555 shares of the firm's stock in a transaction that occurred on 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 completion of the purchase, the director directly owned 55,555 shares in the company, valued at $999,990. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 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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