Biomea Fusion (NASDAQ:BMEA) Price Target Lowered to $45.00 at Citigroup

Biomea Fusion (NASDAQ:BMEAFree Report) had its price target cut by Citigroup from $90.00 to $45.00 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on BMEA. Oppenheimer cut their price target on Biomea Fusion from $70.00 to $60.00 and set an outperform rating for the company in a research note on Thursday, May 30th. Barclays cut Biomea Fusion from an overweight rating to an equal weight rating and cut their price target for the stock from $30.00 to $5.00 in a research note on Friday. JPMorgan Chase & Co. upped their price objective on Biomea Fusion from $14.00 to $15.00 and gave the stock a neutral rating in a report on Friday, May 3rd. Scotiabank dropped their price objective on Biomea Fusion from $41.00 to $21.00 and set a sector outperform rating on the stock in a report on Friday. Finally, Piper Sandler dropped their price objective on Biomea Fusion from $45.00 to $10.00 and set an overweight rating on the stock in a report on Friday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $28.25.

Read Our Latest Analysis on Biomea Fusion

Biomea Fusion Price Performance

Biomea Fusion stock opened at $4.14 on Friday. Biomea Fusion has a 12 month low of $3.61 and a 12 month high of $43.69. The business has a 50 day simple moving average of $11.64 and a 200-day simple moving average of $14.28. The stock has a market capitalization of $148.79 million, a PE ratio of -1.16 and a beta of -0.35.

Biomea Fusion (NASDAQ:BMEAGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.07). As a group, equities research analysts anticipate that Biomea Fusion will post -4.12 EPS for the current year.

Institutional Trading of Biomea Fusion

Large investors have recently bought and sold shares of the company. Signaturefd LLC acquired a new stake in Biomea Fusion in the fourth quarter valued at $36,000. Grove Bank & Trust acquired a new stake in Biomea Fusion in the fourth quarter valued at $56,000. China Universal Asset Management Co. Ltd. grew its holdings in Biomea Fusion by 348.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,131 shares of the company’s stock valued at $60,000 after purchasing an additional 3,210 shares during the last quarter. Quest Partners LLC acquired a new stake in Biomea Fusion in the fourth quarter valued at $79,000. Finally, Centaurus Financial Inc. acquired a new stake in Biomea Fusion in the fourth quarter valued at $102,000. Institutional investors and hedge funds own 96.72% of the company’s stock.

Biomea Fusion Company Profile

(Get Free Report)

Biomea Fusion, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of covalent small molecule drugs to treat patients with genetically defined cancers and metabolic diseases. Its lead product candidate is BMF-219, a covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.

Read More

Analyst Recommendations for Biomea Fusion (NASDAQ:BMEA)

Receive News & Ratings for Biomea Fusion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biomea Fusion and related companies with MarketBeat.com's FREE daily email newsletter.