Zacks Research Upgrades Braveheart Bio (NASDAQ:BRVE) to Hold

Braveheart Bio (NASDAQ:BRVE) was upgraded by equities researchers at Zacks Research to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Several other equities analysts have also weighed in on BRVE. Wall Street Zen upgraded shares of Braveheart Bio to a “hold” rating in a report on Saturday, August 15th. Stifel Nicolaus began coverage on shares of Braveheart Bio in a report on Monday. They set a “buy” rating and a $45.00 target price for the company. TD Cowen began coverage on Braveheart Bio in a research note on Monday. They issued a “buy” rating on the stock. Cantor Fitzgerald started coverage on Braveheart Bio in a research report on Monday. They issued an “overweight” rating and a $40.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on Braveheart Bio in a report on Monday. They issued a “buy” rating and a $48.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.25.

Braveheart Bio Stock Performance

Shares of NASDAQ BRVE opened at $26.95 on Tuesday. Braveheart Bio has a 1 year low of $24.31 and a 1 year high of $32.00.

Insider Buying and Selling

In other news, major shareholder Bio Fund Iv L.P. Ah purchased 1,100,000 shares of Braveheart Bio stock in a transaction dated Friday, August 7th. The shares were bought at an average cost of $18.00 per share, with a total value of $19,800,000.00. Following the completion of the transaction, the insider directly owned 10,232,420 shares in the company, valued at $184,183,560. This trade represents a 12.05% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Erez Chimovits purchased 1,940,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was purchased at an average cost of $18.00 per share, with a total value of $34,920,000.00. Following the acquisition, the director directly owned 11,901,826 shares in the company, valued at $214,232,868. This trade represents a 19.47% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 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.