Braveheart Bio (NASDAQ:BRVE) Posts Quarterly Earnings Results, Beats Expectations By $0.40 EPS

Braveheart Bio (NASDAQ:BRVE) released its quarterly earnings results on Tuesday. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.40, Zacks reports.

Braveheart Bio Stock Performance

BRVE stock traded down $0.42 during mid-day trading on Thursday, hitting $20.48. The company had a trading volume of 20,878 shares, compared to its average volume of 447,548. The stock has a market cap of $1.84 billion and a price-to-earnings ratio of -8.16. Braveheart Bio has a 12 month low of $16.70 and a 12 month high of $32.00. The firm’s fifty day moving average is $22.34.

Analysts Set New Price Targets

A number of brokerages have issued reports on BRVE. TD Cowen assumed coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They issued a “buy” rating for the company. Stifel Nicolaus assumed coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They set a “buy” rating and a $45.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 target price on shares of Braveheart Bio in a research note on Tuesday, October 20th. The Goldman Sachs Group assumed coverage on Braveheart Bio in a report on Monday, August 31st. They issued a “buy” rating and a $48.00 target price for the company. Finally, Wall Street Zen raised Braveheart Bio to a “hold” rating in a research report on Saturday, August 15th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.25.

Braveheart Bio Company Profile

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.