Braveheart Bio (NASDAQ:BRVE) Stock Jumps 8.1% - Still a Buy?

Key Points

• Braveheart Bio shares rose 8.1% to $21.84, although trading volume was about 83% below the average session volume.
• Analyst sentiment is broadly positive: five analysts rate the stock Buy and one rates it Hold, with a consensus price target of $45.25 versus the recent share price.
• The company reported a quarterly loss of $2.51 per share, substantially missing the $0.25 consensus estimate, while insiders bought 8.75 million shares worth $157.5 million over the past 90 days.

Shares of Braveheart Bio, Inc. (NASDAQ:BRVE - Get Free Report) traded up 8.1% on Thursday. The stock traded as high as $21.44 and last traded at $21.84. Approximately 80,989 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 475,182 shares. The stock had previously closed at $20.20.

Wall Street Analysts Forecast Growth

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

Braveheart Bio Trading Up 6.7%

Braveheart Bio (NASDAQ:BRVE - Get Free Report) last issued its quarterly 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). As a group, analysts expect that Braveheart Bio, Inc. will post -1.48 EPS for the current year.

Insider Buying and Selling at Braveheart Bio

In other news, Director Erez Chimovits purchased 1,940,000 shares of the business's stock in a transaction dated Friday, August 7th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $34,920,000.00. Following the completion of the acquisition, the director directly owned 11,901,826 shares in the company, valued at $214,232,868. This represents a 19.47% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Growth Opportunities F. Forbion purchased 1,680,000 shares of Braveheart Bio stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average cost of $18.00 per share, with a total value of $30,240,000.00. Following the transaction, the insider directly owned 10,185,478 shares of the company's stock, valued at $183,338,604. This represents a 19.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 8,751,942 shares of company stock worth $157,534,956 in the last 90 days.

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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