Biomea Fusion (NASDAQ:BMEA) Receives “Buy” Rating from D. Boral Capital

D. Boral Capital reiterated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research note published on Friday morning,Benzinga reports. D. Boral Capital currently has a $16.00 price objective on the stock.

A number of other brokerages have also issued reports on BMEA. Jefferies Financial Group initiated coverage on shares of Biomea Fusion in a research note on Thursday, August 28th. They set a “buy” rating and a $5.00 target price for the company. Oppenheimer reaffirmed an “outperform” rating on shares of Biomea Fusion in a research report on Tuesday, August 5th. Scotiabank decreased their price target on shares of Biomea Fusion from $30.00 to $10.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, August 6th. Finally, Citigroup cut their price objective on Biomea Fusion from $9.00 to $7.00 and set a “buy” rating for the company in a report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Biomea Fusion Price Performance

BMEA stock opened at $2.15 on Friday. The firm has a 50 day simple moving average of $1.85 and a 200 day simple moving average of $1.92. The firm has a market cap of $127.95 million, a PE ratio of -0.71 and a beta of -0.12. Biomea Fusion has a 12 month low of $1.29 and a 12 month high of $13.07.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.08. As a group, sell-side analysts expect that Biomea Fusion will post -3.93 earnings per share for the current year.

Institutional Trading of Biomea Fusion

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Marex Group plc acquired a new position in Biomea Fusion during the second quarter worth $81,000. Engineers Gate Manager LP acquired a new position in shares of Biomea Fusion in the 2nd quarter valued at approximately $26,000. Bridgeway Capital Management LLC increased its stake in shares of Biomea Fusion by 99.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 70,300 shares of the company’s stock valued at $127,000 after purchasing an additional 35,000 shares during the last quarter. Aisling Capital Management LP increased its position in Biomea Fusion by 156.5% during the 2nd quarter. Aisling Capital Management LP now owns 2,048,757 shares of the company’s stock worth $3,688,000 after purchasing an additional 1,250,000 shares in the last quarter. Finally, Scotia Capital Inc. bought a new position in shares of Biomea Fusion in the 2nd quarter valued at $459,000. Institutional investors own 96.72% of the company’s stock.

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.