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

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

Braveheart Bio Stock Up 0.8%

Shares of Braveheart Bio stock traded up $0.16 during trading on Tuesday, reaching $19.62. The stock had a trading volume of 211,467 shares, compared to its average volume of 453,476. The company has a market cap of $1.77 billion and a P/E ratio of -7.82. The business’s fifty day simple moving average is $22.56. Braveheart Bio has a 52 week low of $16.70 and a 52 week high of $32.00.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BRVE. Stifel Nicolaus started coverage on Braveheart Bio in a research note on Monday, August 31st. They set a “buy” rating and a $45.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $40.00 target price on shares of Braveheart Bio in a research note on Tuesday, October 20th. TD Cowen initiated coverage on Braveheart Bio in a report on Monday, August 31st. They issued a “buy” rating for the company. Wall Street Zen raised Braveheart Bio to a “hold” rating in a research report on Saturday, August 15th. Finally, Zacks Research raised Braveheart Bio to a “hold” rating in a research report on Tuesday, September 1st. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Braveheart Bio presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.25.

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.