Braveheart Bio (NASDAQ:BRVE) Shares Gap Up – Should You Buy?

Shares of Braveheart Bio, Inc. (NASDAQ:BRVE) gapped up before the market opened on Thursday. The stock had previously closed at $20.27, but opened at $21.14. Braveheart Bio shares last traded at $21.2250, with a volume of 5,506 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BRVE shares. The Goldman Sachs Group assumed coverage on Braveheart Bio in a research note on Monday, August 31st. They issued a “buy” rating and a $48.00 price objective for the company. Stifel Nicolaus assumed coverage on Braveheart Bio in a report on Monday, August 31st. They issued a “buy” rating and a $45.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 price target on shares of Braveheart Bio in a research report on Tuesday. Jefferies Financial Group assumed coverage on Braveheart Bio in a report on Monday, August 31st. They set a “buy” rating and a $48.00 price target for the company. Finally, Wall Street Zen upgraded Braveheart Bio to a “hold” rating in a research report on Saturday, August 15th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $45.25.

Braveheart Bio Price Performance

The stock has a fifty day simple moving average of $24.11. The stock has a market capitalization of $1.93 billion and a PE ratio of -8.54.

Braveheart Bio (NASDAQ:BRVE) last released its earnings results on Tuesday, September 8th. The company reported ($2.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($2.26). On average, equities analysts anticipate that Braveheart Bio, Inc. will post -1.99 EPS for the current year.

Insiders Place Their Bets

In other Braveheart Bio news, major shareholder Bio Fund Iv L.P. Ah acquired 1,100,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was bought at an average cost of $18.00 per share, with a total value of $19,800,000.00. Following the acquisition, the insider owned 10,232,420 shares in the company, valued at approximately $184,183,560. This represents a 12.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Erez Chimovits purchased 1,940,000 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 $34,920,000.00. Following the completion of the acquisition, the director directly owned 11,901,826 shares of the company’s stock, valued at approximately $214,232,868. This trade represents a 19.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 8,751,942 shares of company stock valued at $157,534,956.

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.