Biomea Fusion, Inc. (NASDAQ:BMEA) Given Consensus Rating of “Buy” by Brokerages

Biomea Fusion, Inc. (NASDAQ:BMEA) has received a consensus recommendation of “Buy” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $21.40.

Several analysts recently issued reports on the company. Barclays reduced their price target on Biomea Fusion from $11.00 to $3.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 2nd. Piper Sandler began coverage on shares of Biomea Fusion in a research report on Tuesday, June 3rd. They set an “overweight” rating and a $7.00 price target on the stock. Oppenheimer set a $10.00 target price on shares of Biomea Fusion in a report on Monday, March 24th. HC Wainwright cut their price target on Biomea Fusion from $40.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Finally, D. Boral Capital restated a “buy” rating and set a $16.00 price objective on shares of Biomea Fusion in a research note on Thursday, May 15th.

Institutional Trading of Biomea Fusion

Institutional investors and hedge funds have recently modified their holdings of the business. Bayesian Capital Management LP bought a new position in shares of Biomea Fusion in the fourth quarter worth about $42,000. Wells Fargo & Company MN boosted its position in Biomea Fusion by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,914 shares of the company’s stock valued at $50,000 after buying an additional 4,399 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Biomea Fusion during the fourth quarter worth $54,000. Maia Wealth LLC acquired a new position in shares of Biomea Fusion during the fourth quarter worth $62,000. Finally, SG Americas Securities LLC bought a new position in shares of Biomea Fusion in the 4th quarter valued at $58,000. 96.72% of the stock is currently owned by institutional investors.

Biomea Fusion Price Performance

BMEA stock opened at $2.63 on Tuesday. Biomea Fusion has a one year low of $1.29 and a one year high of $13.07. The stock has a market cap of $98.81 million, a price-to-earnings ratio of -0.66 and a beta of -0.23. The company has a fifty day moving average price of $1.83 and a two-hundred day moving average price of $3.24.

Biomea Fusion (NASDAQ:BMEA) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.80) EPS for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.04. Research analysts anticipate that Biomea Fusion will post -3.93 EPS for the current fiscal year.

Biomea Fusion Company Profile

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.