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

Braveheart Bio (NASDAQ:BRVE) announced its earnings results on Tuesday. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.91) by $0.40, Zacks reports.

Braveheart Bio Stock Performance

Shares of BRVE traded up $0.16 during midday 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 stock has a market cap of $1.77 billion and a price-to-earnings ratio of -7.82. The company’s 50 day simple moving average is $22.56. Braveheart Bio has a one year low of $16.70 and a one year high of $32.00.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. The Goldman Sachs Group initiated coverage on Braveheart Bio in a research report on Monday, August 31st. They issued a “buy” rating and a $48.00 target price on the stock. Zacks Research upgraded Braveheart Bio to a “hold” rating in a research note on Tuesday, September 1st. Weiss Ratings assumed coverage on Braveheart Bio in a research report on Monday, November 2nd. They set a “sell (d-)” rating on the stock. Wall Street Zen raised Braveheart Bio to a “hold” rating in a research report on Saturday, August 15th. Finally, Jefferies Financial Group began coverage on Braveheart Bio in a research note on Monday, August 31st. They set a “buy” rating and a $48.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.