Braveheart Bio (NASDAQ:BRVE) Releases Quarterly Earnings Results, Misses Estimates By $2.26 EPS

Key Points

• Braveheart Bio reported a quarterly EPS loss of $2.51, missing the consensus estimate of a $0.25 loss by $2.26.
• The stock rose $2.67 to $29.41 in Tuesday trading. Analysts remain broadly positive, with a “Moderate Buy” consensus rating and an average price target of $45.25.
• Insiders have made substantial purchases, acquiring 8.75 million shares worth approximately $157.5 million over the past three months, including major buying by Orbimed Advisors and Director Christopher Viehbacher.

Braveheart Bio (NASDAQ:BRVE - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($2.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($2.26), Zacks reports.

Braveheart Bio Price Performance

NASDAQ BRVE traded up $2.67 during trading hours on Tuesday, hitting $29.41. 613,229 shares of the company traded hands, compared to its average volume of 367,419. Braveheart Bio has a twelve month low of $24.31 and a twelve month high of $32.00.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BRVE. Stifel Nicolaus started coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They issued a "buy" rating and a $45.00 target price for the company. Cantor Fitzgerald began coverage on Braveheart Bio in a research report on Monday, August 31st. They set an "overweight" rating and a $40.00 price objective for the company. Jefferies Financial Group initiated coverage on Braveheart Bio in a report on Monday, August 31st. They set a "buy" rating and a $48.00 price objective for the company. Wall Street Zen raised Braveheart Bio to a "hold" rating in a research report on Saturday, August 15th. Finally, The Goldman Sachs Group began coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They set a "buy" rating and a $48.00 price target for the company. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $45.25.

Insider Activity

In related news, Director Orbimed Advisors Llc acquired 1,940,000 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, for a total transaction of $34,920,000.00. Following the purchase, the director directly owned 11,901,826 shares in the company, valued at approximately $214,232,868. This trade represents a 19.47% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher Viehbacher acquired 83,333 shares of the business's stock in a transaction dated Friday, August 7th. The stock was bought at an average cost of $18.00 per share, with a total value of $1,499,994.00. Following the acquisition, the director owned 609,519 shares in the company, valued at $10,971,342. The trade was a 15.84% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have 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.

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